Bank Data Exchanges Between the Swiss and U.S. Governments: It Could Soon Be Done Automatically
Offshore Account UpdatePosted in on January 20, 2017
If you have offshore funds at a Swiss bank account, the United States government wants to know about your account and about the money within it. You must file an annual Report of Foreign Bank and Financial Accounts (FBAR) and could face serious penalties if you don't, especially if the IRS believes you willfully failed to disclose your offshore account.
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