Wednesday, April 8, 2015

FBAR audit success story ????

After I read this blog post yesterday about a so called ``FBAR audit success story`` from a well-known FBAR ambulance chaser law firm I was thinking ......yes even 4/2015 these things happen. Where is Caroline C. Ciraolo when you need her !? I know it is a free market and buyers be aware.
http://www.irsmedic.com/2015/0...
The story does not make much sense and seems kind of invented or altered for promotion purposes because German income taxes are much higher than US income taxes. Reginald has the FEIE and FTC plus annual carry-overs. Reginald never had an income tax liability to the US.
He committed a “Form Crime“ by not filing 1040s, 8938 etc. and FBARs.
No big deal – typically the Service does not assess FBAR penalties when there is no tax due and Reginald has on top of everything else strong RC arguments. Another easy target and $25,000 income for IRSmedic.

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