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Mel Whitney
Articles
Foreign tax credit for US expats: Rules, limits, and how to claim it
The US foreign tax credit is a nonrefundable credit that reduces your US tax bill by the amount of qualifying income tax you paid or accrued to a foreign government on foreign-source income also subject to US tax. It is calculated on ...
Delinquent FBAR Submission Procedures removed in 2026: how to file late FBARs now
The Delinquent FBAR filing procedures historically covered an FBAR-only probl...
FinCEN Form 114: FBAR form filing instructions, who must file, and what to report
FBAR (FinCEN Form 114) is the Report of Foreign Bank and Financial Accounts – a disclosure filed separately from your federal income tax return through FinCEN’s BSA E-Filing system, not with the IRS. If the a...
FBAR quiet disclosure: IRS risks, penalties, and safer options
FBAR quiet disclosure is not an official IRS compliance program. It usually ...
FBAR penalties in 2026: amounts, violations, and when they are reduced
In 2026 a non-willful FBAR violation can cost up to $16,536 per annual report, and a willful violation up to the greater of $165,353 or 50% of the account balance. Criminal penalties apply only in the most serious cases....
Amending an FBAR: How to correct FBAR mistakes and file an amended return
You can amend an FBAR at any time by filing a corrected ...