IRS Targets Foreign Bank Accounts
With limited exceptions, every American citizen and resident … with a direct or indirect ownership or control over a foreign financial account at any time during 2009 … could be subject to late filing penalty of $10,000 … or if the IRS recommends criminal prosecution … additional penalties up to $500,000 and 10 years in prison. There are few exceptions! Ouch! (more…)
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Miami Accountant Online 