Guya wrote:No.
The prior paper form is obsolete. All FBARs are delivered by the client online.
Is the client going to quietly file these, use the OVDP or the onshore streamlined procedures?
Are you working under a Kovel letter?
Guya wrote:Who was ignorant? Was it the client or the client's adviser?
supdat wrote:See if your client qualifies for the Delinquent FBAR Submission Procedures to file without a penalty.
http://www.irs.gov/Individuals/Internat ... Procedures
Guya wrote:100% of our clients file FBARs. We only prepare perhaps 5% of them for risk reasons. If your engagement letter and insurance cover the risk then you could choose to prepare FinCEN 114 and 114A. The explanation box is clearly visible on the FBAR form.
kathyt wrote:So my question - can he just file the amended returns & file the FBAR's & avoid the huge penalties?
Does he need to file 6 years of FBAR's and 3 years of amended returns?
EADave wrote:Sorry, I was responding to this, "100% of our clients file FBARs. We only prepare perhaps 5% of them for risk reasons."
Users browsing this forum: Google [Bot], Google Adsense [Bot], JoJoCPA, kyle242gt, Nilodop, Permanently-Diff, rbynaker, SumwunLost, taxp2345, Terry Oraha, TexasTaxCPA and 133 guests