penalties for not filing an fbar

What Are the Penalties for Not Filing an FBAR?

Latest Facts & News FBAR penalties are at an all-time high: As of 2025, non-willful penalties have risen to $16,536 per violation, and Willful FBAR penalty is the greater of 50% of the account balance at the time of violation or…
Offer in Compromise Approved

How to Get an Offer in Compromise Approved: Ultimate 2025 Guide

Latest Facts & News Hook The current acceptance rate for OICs is 36.55%, indicating that slightly over one-third of submissions are approved. New digital submission options via IRS Online Account Enhanced financial documentation…
Offer in Compromise Approved

ALL IRS AGENTS ARE NOT CREATED EQUALLY

  BY: ANTHONY N. VERNI, ATTORNEY AT LAW, CPA FEBRUARY 23, 2025 © 2025 ALL IRS AGENTS ARE NOT CREATED EQUALLY THE IMPACT OF MENTAL ILLNESS, ALCOHOLISM AND ADDICTION The Internal Revenue Service would have you believe that every…
Offer in Compromise Approved

Eleventh Circuit Sustains Willful FBAR Penalty, But throws the Taxpayer a Bone

By: Anthony N. Verni Attorney at Law, CPA September 5, 2024 ©2024   Eleventh Circuit Sustains Willful FBAR Penalty, But throws the Taxpayer a Bone On September 4, 2024, the United States Court of Appeals for the 11th Circuit in…
Offer in Compromise Approved
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EMPLOYMENT TAX AUDITS ON THE RISE SECTION 6672 PENALTY AND CRIMINAL PROSECUTION

By: Anthony N. Verni, Attorney at Law, CPA August 13, 2024 ®2024 EMPLOYMENT TAX AUDITS ON THE RISE SECTION 6672 PENALTY AND CRIMINAL PROSECUTION Employment tax audits are on the rise and so too is the exposure to those individuals …
Offer in Compromise Approved
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TAXPAYER’S PERSONAL CRISIS NO DEFENSE TO WILLFUL FBAR PENALTY

By: Anthony N. Verni, Attorney at Law, CPA August 13, 2024 ©2024   TAXPAYER’S ADHD DIAGNOSIS, STRESS, DEPRESSION AND STAGE 3 PROSTRATE CANCER NO DEFENSE TO WILLFUL FBAR PENALTY   On August 6, 2024 the U.S. District Court for…
Offer in Compromise Approved

PERMANENT LAWFUL RESIDENT PROCEDURES FOR U.S. TAX EXPATRIATION

By: Anthony N. Verni, Attorney of Law, CPA Date: August 6, 2024 ©2024   PERMANENT LAWFUL RESIDENT PROCEDURES FOR U.S. TAX EXPATRIATION Any decision regarding expatriation from the United States for tax purposes should include consultation…
Offer in Compromise Approved
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THAI RESIDENTS MUST NOW PAY THAI INCOME TAX ON FOREIGN SOURCE INCOME

The Thai Revenue Department recently issued Order No. 16/2023 (the “Order”), which marks a significant shift in Thai tax policy as it relates to Thai Residents, who derive income from foreign sources or own offshore assets. The Order, which…