Megan L. Brackney presented "The Latest In FATCA And FBAR Enforcement" at AICPA Engage 2018

The IRS is continuing to focus its resources and attention on unreported foreign assets. Foreign financial institutions are implementing and executing procedures to identify US taxpayers and report them to the IRS. 

At the same time, the IRS is getting more aggressive about imposing penalties for failure to report foreign assets, including FBAR penalties and other foreign asset reporting penalties.