FBAR Case

To be honest, commuting to the city around four times a week can be exhausting. However, I feel more adult like when I walk around the city dressed up properly and interning at a reputable law firm. Lately, I started to help out on a new FBAR case where the client had not filed their foreign assets when the client immigrated into the United States. The job was to reduce the penalty for not filing the FBAR as much as possible. After my boss summarized the case for me, I started to research about different types of programs that the client can go through to reduce his penalty. The two main methods were the streamline and OVDP (Offshore Voluntary Disclosure Program). I will summarize each of the alternatives and hand in the report to my boss to see which program will be the most effective for the client.

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