# Fbar



## vulture

I have been an overseas taxpayer for 30 years and have filed my taxes for every year and on my schedule B form I have always declared that I had a foreign bank account. However I have only recently filed an FBAR and I filed six FBARs last Dec. 2012 with an explanation of why I hadn't previously filed. I have confirmed that the Treasury Department has recieved my FBARs. So far I haven't heard anything from them, so I don't know if I will be penalized or not. My income is under $30,000 per year and I have around $50,000 in my foreign bank account. Some people have told me that I am a small fish so the IRS won't bother me. I've also heard that the Treasury Department only wants people to get caught up on their FBARs and not penalize them. And I've also heard that the IRS is backed up with paper work so they may not get around to me for some time to come. I guess I'm just wondering how much I need to worry about this. It's like a 10 ton weight hanging over my head by a string and never knowing when it's going to fall.


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## BBCWatcher

You should not worry, for the reasons you cite plus the fact there's absolutely nothing else you can do except to continue complying with the rules. There's no point in worrying about issues beyond your control.


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## Bevdeforges

The fact of hearing nothing from the Treasury Dept. is its own reward. They will NOT acknowledge your filing. Just keep them coming and all will be well. (And yes, they really are mainly concerned with the "big fish" openly flaunting the law.)
Cheers,
Bev


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