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Capital Gains Tax - FBAR filing for offshore accounts

I publish illustrative scenarios prepared by my practice. All participants and conversations are fictional. The fictional posts are not posts by real users, accounts of client experiences, or reports of actual results.

Illustrative scenario prepared by my practice.

For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.

Hypothetical question

Using a throwaway bc my boss knows my main. Looking for advice on a legal issue. Here's what happened.

FBAR filing for offshore accounts. I've been dealing with this for about 11 months now and the situation isn't improving.

I have already done some research online but got conflicting advice.

Should I hire a lawyer for this or try to handle it myself?

Illustrative response

This is exactly why I started documenting everything from day one.

Illustrative response

Keep records for at least 7 years. The IRS can audit further back in some cases.

Illustrative response

Have you consulted with a CPA yet? This is complex enough to warrant professional advice.

Capital Gains Tax - FBAR filing for offshore accounts

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