How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lev Your Own Question
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28084
Experience:  Taxes, Immigration, Labor Relations
870116
Type Your Tax Question Here...
Lev is online now
A new question is answered every 9 seconds

Probably a silly question but here goes.I never sent in the

This answer was rated:

Probably a silly question but here goes.I never sent in the fbars before and this year I sent them in for the last 6 years,all the info I had.I also did both of my daughters 6 years each as we didn't know we had to do them.
Does the IRS send anything back, I know we can be fined,penelized etc for not sending them in,to let us know if anything has to be done or do we have to wait for the next 7 years for them to come up and say,Oh!! by the way you owe __________.Just wondering as I want to live normal and if need be use my saving when I need to and not save the money just in case.
Do they usually fine people like us or are they going after the rich folks.

Thanks

Bernie McKenna

LEV :

Hi and welcome to Just Answer!
Generally - the IRS may assess additional penalties within three years aftre your filing.
For FBAR reporting - the IRS doesn't send any confirmation - but you may always contact the IRS and verify if your forms were accepted.

LEV :

In most situations - there should not be any penalties if you just missed reporting and was not aware. But as soon as you became aware - you filed for past years.
While penalties are possible - the IRS rare use this option.
The issue would be if you had unreported income and owe income taxes on that income.

Customer:
Lev and 2 other Tax Specialists are ready to help you

Related Tax Questions