MsTabbyKats Posted November 20, 2014 Report Share Posted November 20, 2014 I had previously written about a personal tax issue that I an having with foreign banks. To all those who were able to empathize....my sincere thanks. To the few who were "holier than thou"......I guess you think throwing your husband to the dogs is OK. Anyway, one of the banks made contact with our attorney and will ultimately cooperate. DH had to produce his passport from 1977. Good thing he never throws anything out...including the little piece of paper I wrote my phone number on in 1984. So...I don't have to worry about how to avoid Part III in Schedule B....or even do MFS. I don't care about ever seeing a penny. I just want it to be over and done with. 2 Quote Link to comment Share on other sites More sharing options...
Richcpaman Posted November 20, 2014 Report Share Posted November 20, 2014 Cool! Rich Quote Link to comment Share on other sites More sharing options...
SaraEA Posted November 20, 2014 Report Share Posted November 20, 2014 Do look into the Streamlined Offshore Voluntary Disclosure Program. Seems like Husb is eligible (omission not willful, he thought the money was gone for good). Penalty is only 5%. 2 Quote Link to comment Share on other sites More sharing options...
RitaB Posted November 20, 2014 Report Share Posted November 20, 2014 I don't care about ever seeing a penny. I just want it to be over and done with. Try to hang in there. You work awfully hard for your money, and I think you would look back and regret not trying to keep what belongs to you. Just my gut feeling. Quote Link to comment Share on other sites More sharing options...
MsTabbyKats Posted November 20, 2014 Author Report Share Posted November 20, 2014 Thanks Rita. I just want to be in compliance. This is one bank out five. After penalties/tax/lawyer's fees.....the money left will be just a fraction of the total amount I originally posted. A very small fraction......assuming we never hear from the other banks. DH learned a very costly lesson. I think he wants to give whatever is left over to family members. 1 Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted November 20, 2014 Report Share Posted November 20, 2014 We are currently waiting for the FBAR penalties to be assessed for a client, I really hope you have a good reasonable cause in case they give you a chance to explain yourself. IDK or IDKS won't cut it. Quote Link to comment Share on other sites More sharing options...
michaelmars Posted November 20, 2014 Report Share Posted November 20, 2014 an attorney at a recent seminar said if you show good faith attempts to get info from bank and still cant, you can avoid some penalties Quote Link to comment Share on other sites More sharing options...
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