Legal Immigrants next in line for their #FATCA Whoopin’ from the #IRS

Not only is the problem the draconian penalties associated with the FBAR form, which could reach as high as 300% of a person’s assets, a problem exists in the OVDP (Offshore Voluntary Disclosure Program) plea bargain program, where innocent persons are herded into accepting “only” a 27.5% penalty upon all of their financial assets located in their home country, simply for not having known that they should have filled out a form upon them.

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