Today, FinCEN moved to again clarify questions surrounding the due date for filing Reports of Foreign Bank and Financial Accounts (FBARs). The FBAR requirements (31
Read MoreTag: foreign assets
Don’t Overlook Foreign Assets At Tax Time
You may think you know what a taxpayer with foreign assets looks like. It’s easy to paint a picture of the super-rich jetting off to
Read MoreIRS Ends Offshore Voluntary Disclosure Program
The Internal Revenue Service (IRS) has announced that Offshore Voluntary Disclosure Program (OVDP) is coming to a close. The program, which has been around in its current form since 2014, will officially end on September 28, 2018.
Read MoreFBAR, 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 MoreAsk The Taxgirl: Foreign Accounts & FBARs
Taxpayer asks: Hi Kelly, With all the publicity about UBS and foreign bank accounts, I have some concerns that a lot of parents may be
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