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What Are the Costs Associated With Filing FBAR Compared to Form 8938

Compare FBAR and Form 8938 filing costs and thresholds. Edward Parsons, CPA explains separate obligations, penalties, and compliance requirements for foreign.

FBAR vs Form 8938: FATCA Compliance Requirements for Expats

Understand FBAR and Form 8938 filing requirements, thresholds, and penalties. Edward Parsons, CPA explains which forms expatriates must file.

Which Filing is More Relevant to My International Financial Situation, FBAR or Form 8938

Understand FBAR and Form 8938 requirements, thresholds, and filing differences. Edward Parsons, CPA clarifies which forms apply to your international financial.

IRS Penalty Relief for Unfiled FBAR Options

Unfiled FBAR penalties range from $16,536 to $165,353 depending on willfulness. Edward Parsons, CPA explains relief options and compliance procedures to

FBAR Filing Requirements for U.S. Citizens in United States

U.S. citizens with foreign accounts over $10,000 must file FinCEN Form 114 by April 15. Edward Parsons, CPA guides compliant FBAR

How Does Hiring a Professional Compare to Filing FBAR on My Own

Compare hiring a CPA for FBAR filing versus handling it yourself. Edward Parsons, CPA explains penalties, Form 8938 overlaps, and catch-up

Risks of Non Willful FBAR Violations

Non-willful FBAR penalties reach $16,536/year. Edward Parsons, CPA explains IRS violation risks, reasonable cause defenses, and delinquent filing relief.

What Are the Key Differences in Costs Between DIY Filing and Your Professional Service

Compare DIY tax software costs against CPA fees for complex returns. Edward Parsons, CPA reveals why professional service protects against costly

IRS Risks for Delayed Tax Compliance on Foreign Assets

Understand IRS penalties for late FBAR and FATCA filing. Edward Parsons, CPA explains non-willful vs. willful violations and compliance relief options.

Non-Willful FBAR Treatment: What Steps Should I Take if I Believe I Qualify for Non-Willful FBAR Treatment

Learn non-willful FBAR treatment steps, penalty caps, and how Edward Parsons, CPA helps clients file delinquent reports and qualify for reasonable

How Can I Determine If I Qualify for Streamlined Filing Options

Determine if you qualify for IRS streamlined filing compliance procedures. Edward Parsons, CPA explains non-willful conduct requirements and filing steps.

FBAR Non-Willful Penalty Options Explained

Understand non-willful FBAR penalties up to $16,536/year and relief options including abatement, streamlined filing, and reasonable cause arguments from Edward.

Meals Tax vs Sales Tax in Massachusetts: Mixed Businesses, Markets and Food Trucks

A business selling both groceries and prepared food runs two tax regimes at once: exempt food products on one side, meals

Opening a Restaurant in Massachusetts: The Complete Tax Registration Checklist

Massachusetts requires a restaurant to register with the Department of Revenue to collect meals tax before the business opens, not after

Tips, Service Charges and Massachusetts Meals Tax: What Gets Taxed on the Bill

A voluntary tip is never part of the taxable meal price. A mandatory service charge can also escape Massachusetts meals tax,

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Your Colombian Company and Form 5471: A CPA Review for U.S. Owners

If you already own a Colombian company and you have been filing Form 5471, the real question

Starting a Colombian S.A.S. as a U.S. Citizen: Form 5471 and CFC Rules

If you are a U.S. citizen and you open a Colombian S.A.S., the IRS almost always treats

Buying Property in Colombia: U.S. Tax Issues for Citizens and Residents

Buying a home or apartment in Colombia is not, by itself, a U.S. taxable event, and real

Colombian Gifts and Inheritances: Form 3520 Reporting for U.S. Persons

If you are a U.S. person and you inherit money or receive a large gift from family

Colombian Investment Funds and PFIC Reporting for U.S. Citizens

If you are a U.S. citizen holding a Colombian investment fund, the IRS almost certainly treats it

Colombian Pension and Cesantias Accounts: U.S. Tax Reporting

Colombian cesantias and private pension accounts are usually foreign financial accounts in the eyes of the IRS,

Opening Bank Accounts in Colombia: FBAR and Form 8938 for U.S. Citizens

A U.S. citizen with a Colombian bank account usually has two separate reporting duties. The FBAR (FinCEN

Living in Colombia and Behind on U.S. Taxes? Streamlined Filing Explained

If you live in Colombia and have fallen behind on U.S. taxes, the IRS Streamlined Filing Compliance

Remote Work From Colombia: The U.S. Tax Issues Nomads Miss

Yes, Americans working remotely from Colombia still owe U.S. taxes. U.S. citizens and green card holders are

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