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IRS Penalties

Home » IRS Penalties

Alarmed woman reading an official letter at a desk at night, a red alarm clock and warning sign beside her
Posted inNRI Tax Guides

Forgot Form 8938? The Penalty and the Way Out

$10,000. That's the failure-to-file penalty for Form 8938, and it's a flat amount rather than a percentage of anything. It can also be $0. The instructions carry a reasonable cause…
Posted by Aradhana Sharma September 11, 2026
Worried man at a kitchen table late at night looking at a laptop, bank statements spread in front of him
Posted inNRI Tax Guides

Forgot to File an FBAR? What Actually Happens Next

You file it late, right now, through the same system you'd have used on time. The IRS says so directly: if it hasn't contacted you and you're not under investigation,…
Posted by Aradhana Sharma September 11, 2026

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