Hello I have a savings account in a bank in France. I am reporting the interest annualy on my income tax, my son's name is also in the account. Will it matter that he has not reported anything on his yearly income tax? When I opened the account his was a minor, but they have his passport number. What do we do?
Asked on 9/07/09, 4:04 pm
1 Answer from Attorneys
John DeLancett
Law Offices of John DeLancett, PL.
It may depend on how the account is structured. Did you check yes on schedule B to the question about offshore accounts or interests? Did you file a foreign bank account report in June of each year? More facts are needed to determine whether you have complied with the tax laws or whether you need to consider making a voluntary disclosure by September 23.
Answered on 9/07/09, 7:09 pm
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