Foreign bank accounts aren’t necessarily for mustache-twirling villains and the superwealthy, but they do trip up plenty of people when it’s time to file their
Read MoreTag: FATCA
FBAR, FATCA Filings Top 1 Million
More than 1 million Report of Foreign Bank and Financial Accounts (more commonly, FBARs) were filed in 2015, a record high. Under the Banking Secrecy Act (BSA) and Foreign Account Tax Compliance Act (FATCA), US taxpayers with foreign accounts are under more scrutiny than ever.
Read MoreIRS Issues Reminder As Taxpayers Near Deadline To Report Foreign Accounts, Assets
Two weeks. That’s all the time that you have left to comply with the mandatory reporting accounts for foreign accounts for the calendar year 2014.
Read MoreAt Sentencing, Credit Suisse Ordered To Pay $1.8 Billion To U.S. By Next Week
Credit Suisse was ordered today to pay up for its role in helping U.S. taxpayers evade taxes. The banking giant must pay $1.8 billion to the U.S. by next week. What else does the sentencing mean?
Read MoreGuest Post: Giving Up Citizenship Because Of Taxes
It’s time for guest posts! Today, Tisha talks about the hard choices when it comes to citizenship and taxes.
Read MoreGuest Post: The Accidental Tax Invasion
It’s time for guest posts! Today, Dominic Ferzst, tackles tax, FATCA and the “accidental invasion.”
Read MoreTax Deadline Fast Approaching For Taxpayers Living Abroad
Not all taxpayers had to file for extension if they weren’t ready on April 15: taxpayers who live abroad qualified for an automatic two-month extension
Read MoreHolder Warns On Offshore Accounts, Says No Bank Is ‘Too Big To Jail’
Attorney General Eric Holder has announced that no bank is “too big to jail” after Credit Suisse reached a plea deal on conspiracy charges. How will this latest move affect taxpayers?
Read MoreIRS Releases List Of Americans Hoping To Expatriate, Number Tops 1,000
The IRS has released the most recent list of citizens wishing to renounce their citizenship – and it’s a long one.
Read MoreSnowden Finds New Home, Fields Job Offers – But Will He Pay His Taxes?
Former NSA whistleblower Edward Snowden has received formal papers from the Russian government to live and work in the country as a “temporary refugee.” Despite having his U.S. passport revoked, he remains a citizen. And being a citizen means paying his taxes.
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