HiAny one has real settlement on FBAR Penalty ? Really appitcraee if some one share their experience.I am in almost same position as KS and SS above, i.e. expat on H1B, filed in first tax return in 2008 (1040) through CPA, never came to know abt FBAR. 2009 I did myself, by turbotax but followed same way as earlier year. Now I heard and felt lot of noise pain about FBAR. I have my savings of 15 years worked at Hong Kong with HSBC though very negligible amount of income on it. I feel regret coming here when I think I have to pay penalty of balance of my life time savings.I am taking extension for 2010 to assess current last two year situation. KS, SS, can you please share your decision, how you are going to pursue this matter ? thanks
HiAny one has real settlement on FBAR Penalty ? Really appitcraee if some one share their experience.I am in almost same position as KS and SS above, i.e. expat on H1B, filed in first tax return in 2008 (1040) through CPA, never came to know abt FBAR. 2009 I did myself, by turbotax but followed same way as earlier year. Now I heard and felt lot of noise pain about FBAR. I have my savings of 15 years worked at Hong Kong with HSBC though very negligible amount of income on it. I feel regret coming here when I think I have to pay penalty of balance of my life time savings.I am taking extension for 2010 to assess current last two year situation. KS, SS, can you please share your decision, how you are going to pursue this matter ? thanks