When is a US Taxpayer required to disclose offshore accounts on an FBAR and IRS Form 8938? While many US taxpayers and expatriates have come to understand the requirements of the FinCEN Form 114 or ...

In a notice posted to its website on Wednesday, Treasury’s Financial Crimes Enforcement Network (FinCEN) announced that this year’s deadline to e-file FinCEN Form 114, Report of Foreign Bank and ...

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 ...

I file Form 8938, Foreign Financial Assets, with my 1040 to the IRS. My tax attorney says I also must file FBAR (foreign bank account) Form 114, at a different U.S. Treasury, non-IRS address, with a ...

For investors overwhelmed by the recent changes to foreign reporting, consider the following as a basic guide to FBAR requirements. FBAR is an information return that must be filed if any U.S. person ...

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, ...

The form for reporting foreign bank and financial accounts, or FBAR, must be filed by June 30 through the BSA E-Filing System, the IRS is reminding taxpayers. For 2014, FBARs must be e-filed using the ...

The United States Department of Treasury is again sharpening its sword upon crypto. In January 2021, the Department of Treasury’s Financial Crimes Enforcement Network issued Notice 2020-2. The Notice ...

The penalty for nonwillful failure to file a Financial Crimes Enforcement Network (FinCEN) Form 114, Report of Foreign Bank and Financial Accounts (FBAR), is assessed per FBAR not timely or properly ...

The Bank Secrecy Act of 1970 requires U.S. citizens, residents and others to “keep records, or file reports, when the resident, citizen or person makes a transaction or maintains a relation for any ...