When it comes to reporting your various accounts on forms like the FBAR, 8938, and 3520, don’t assume that just because an account is small, that the IRS isn’t interested in it. Be aware of your small accounts, and please share the details with us.

Risk of audits or penalties from the IRS unfortunately aren’t based on normal ideas of right and wrong. Clients will often say “I haven’t done anything wrong”. Our recommendation is to remain open and be realistic about IRS risks we identify.