foreign account reporting due today - question

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The penalties are huge for not filing, up to half a million and 10 years in jail. It is much better to file, perhaps the huge increase in FBAR filings will reduce the audit rate.

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They may also focus on those who have not filed, since they have the Neteller records. If we are lucky they will check off most of those who have filed, and dig through the records for those who have not.