Hello
For 2015 filing my auditor suggested not to show any foreign accounts or interest (Schedule B and FBAR). But I have been filing all the previous years. I am yet to file my 2016 tax returns and I think I am in a dilemma. Following are my questions:
1. For 2016 if I file Schedule B showing interests from overseas bank and file FBAR, would there be a problem since I did not file for the year 2015?
2. Would there be a problem if I file amendment and FBAR for year 2015 without going through the Streamline or the OVDI?
In 2015 my bank a/c may be in the amount of around $85000 and interest earned may be around $5500.
Please provide recommendations on what to do. Thank you
For 2015 filing my auditor suggested not to show any foreign accounts or interest (Schedule B and FBAR). But I have been filing all the previous years. I am yet to file my 2016 tax returns and I think I am in a dilemma. Following are my questions:
1. For 2016 if I file Schedule B showing interests from overseas bank and file FBAR, would there be a problem since I did not file for the year 2015?
2. Would there be a problem if I file amendment and FBAR for year 2015 without going through the Streamline or the OVDI?
In 2015 my bank a/c may be in the amount of around $85000 and interest earned may be around $5500.
Please provide recommendations on what to do. Thank you