The Foreign Account Tax Compliance Act is fundamental as it affects how you report your finances, especially as an expat abroad. FATCA is why you may need to file a Report of Foreign Bank and ...

On December 16, 2016, FinCEN issued Notice 2016-1, extending the filing deadline for the Report of Foreign Bank and Financial Accounts, FinCEN Form 114 (FBAR), for certain individuals with signature ...

What are your FBAR requirements as a U.S. person or taxpayer for an offshore account, group of accounts, property, or investment? The penalties for non-compliance with reporting offshore accounts, ...

U.S. persons having a financial interest in or signature authority over one or more foreign financial accounts - including a bank account, brokerage account, mutual fund, trust, estate, pension, ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

IRVINE, Calif., Jan. 4, 2023 /PRNewswire/ -- A Report of Foreign Bank and Financial Accounts (FBAR) is a yearly report submitted to the Financial Crimes Enforcement Network (FinCEN), according to ...

Tax practitioners and taxpayers alike have long grappled with whether virtual currency, aka cryptocurrency, is reportable for purposes of FinCEN Form 114, Report of Foreign Bank and Financial Accounts ...

In September 2008, the IRS website posted revisions to the Report of Foreign Bank and Financial Accounts (Form TD F 90-22.1) that surprised many practitioners. This article discusses new traps for the ...

Many tax professionals are experiencing clients coming out of the woodwork this year to discuss foreign bank accounts and what they should do about them. The clients have become concerned about ...

If you or your business has $10,000 in foreign accounts, it's important that you pay attention to this year's FBAR reporting regulations. The deadline for filing this year's FBAR (Report of Foreign ...