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Video instructions and help with filling out and completing When Form 2220 Filing

Instructions and Help about When Form 2220 Filing

Filing an f bar can be annoying and a necessary breach of privacy and believe it or not what are more complicated than a one would at first imagine so the question becomes do you really have to file an f bar can you get away without filing an f bar can you cheat the IRS by not filing an f bar watch this video and we'll give you some insight hi i'm anthony parent of parent & parent LLP IRS medic and i'm here to talk about what happens when you don't file an f bar and if you can get away without doing it and before you laugh there was actually a time when you could get away without filing an f waar and have zero consequences and it's important to understand the history behind it and then it kind of makes sense the f bar filing requirement began with the Bank Secrecy Act of 1970 yet for decades nobody really filed an F bar or if you did the the importance of it was never really seen the reason why was because F bars weren't enforced why well because the f bar is not an IRS form it's a financial crimes enforcement network form FinCEN fraud for sure FinCEN was in charge of administering f bar penalties well they didn't look at f bars as enough of a issue to bother administering him so no one ever really did anything that changed is the IRS the authority of this sf bar penalties switched to the IRS and now the IRS looks at the f bar penalties as a way to penalize people for tax non-compliance as well so in the last 10 years it's all changed f bar penalties went from something the IRS didn't even care...

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