Posts tagged as:

FBAR

IRS Offers Taxpayers ‘One More Chance!’

10 January 2012

My seven year old has a penchant for getting herself into trouble. She’s that kind of kid who pushes boundaries to see exactly how far she can get. Lucky for her, she also has a pretty quick wit and a couple of looks up her sleeve. When she gets into trouble, she peers up at [...]

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IRS Extends OVDI Deadline Due to Hurricane Irene

27 August 2011

Hurricane Irene is huge. As of last night, 29 million people were under a hurricane warning. The effects of the hurricane are expected to be felt this weekend by nearly 55 million people, or just under the total population of the United Kingdom. Even as the storm is downgraded to a Category 1, power outages [...]

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FBAR Deadline Looming

21 June 2011

Donna (not her real name, of course) has been breaking the law for years. The funny thing is she doesn’t look like your stereotypical criminal: she’s well dressed, well spoken and well travelled. She hasn’t physically harmed anyone. She hasn’t stolen anything. I’m not sure she has so much as a traffic violation. Her crime? [...]

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Taxes from A to Z: F is for FBAR

8 March 2011

In 1970, Congress passed the Bank Secrecy Act which was pretty much the first law on the books in the US to require banks and other financial institutions to reveal personal financial information to the government. Yep, this was long before the Patriot Act, and was originally meant to assist law enforcement agencies in the [...]

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I Told You So.

7 July 2010

So, I don’t say that on the blog very often (though my brothers would likely tell a different story from our years at home). But I’m sooo saying it now. When the IRS won its prominent battle with UBS, I said (as did many tax and finance bloggers) that a win would only lead to [...]

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Tax Trivia: FBAR

26 January 2010

Update: We have a winner! It’s Chad! For the answer, see the comments! Our next tax trivia question for the giveaway is: This year, thanks to UBS, the Bank Secrecy Act has gotten a lot of press. Under the Act, each US person must file a Report of Foreign Bank and Financial Accounts (FBAR) if [...]

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Tax Update Blog: ‘Cheat’? I don’t think the word means what they think it means.

19 November 2009

Great piece by Joe Kristan at Roth & Company PC about FBAR reporting… Tax Update Blog: ‘Cheat’? I don’t think the word means what they think it means.: “”

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Ask the taxgirl: Oh Canada!

25 August 2009

Taxpayer asks: I have what may be a stupid question. I read your answer about FBAR and I was wondering whether you have to report bank accounts in Canada or does this just apply overseas? Taxgirl says: Oh Canada. Land of moose, maple syrup and an occasionally decent hockey team… Actually, Canada has a pretty [...]

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Ask the taxgirl: FBAR and Power of Attorney

25 August 2009

Taxpayer asks: I was just reading about the rules for FBAR, and noticed that the IRS says that people who have Power of Attorney (POA) for elderly relatives with foreign bank accounts must submit FBAR reports if those accounts total over $10,000 at any point during the year. As it happens, I have a POA [...]

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Fix the Tax Code Friday: Foreign Accounts

21 August 2009

The IRS crackdown on foreign accounts has been generating a lot of discussion in the blogosphere. Some folks argue that it’s a waste of resources, others argue that it’s been a long time coming. Today’s Fix the Tax Code Friday question is: Is the targeting of offshore accounts a fair use of IRS resources? Or [...]

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