Investing and Taxes

What happens with my taxes if I fail to report foreign financial assets?

The IRS will impose a 40% penalty, in addition to any taxes owed, for any abusive tax shelters or unreported investments held in foreign countries.


This is a web preview of the "The Handy Investing Answer Book" app. Many features only work on your mobile device. If you like what you see, we hope you will consider buying. Get the App