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Podcast: Offshore Tax with HTJ.tax
Episode: How Advisors Protect Themselves by Informing Clients
Description: When does technical advice cross into criminal risk—and how can advisors protect themselves?If an advisor tells a U.S. client:“Yes, Svalbard’s unique status means a financial institution there may not report to the IRS under FATCA. But this does not eliminate your personal obligations. You must still report on FBAR, Form 8938, and Forms 3520/3520-A—and failure to file carries severe penalties.”That advice is accurate, complete, and defensible. The advisor is informing, not concealing. The key element of willfulness—intent to defraud—is missing.But...