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 ...

Victims of these recent natural disasters are granted an FBAR filing extension for the 2023 calendar year. Your rule of thumb: FinCEN deadlines for FBAR filings will be the same as the IRS deadlines.

The maximum civil penalty for non-willful failure to comply with FBAR reporting requirements is $10,000. 1 However, additional penalties may apply for willful violations. Penalties for a willful ...

FBAR and Form 8938 are two of the foreign tax filing forms that clients most commonly have to deal with. The two forms are similar in that both require taxpayers with certain foreign assets and ...

From sunny Caribbean beaches to charming European villages, the expatriate lifestyle offers numerous settings for relaxation, adventure and a refreshing switch from typical American living. However, ...

Under the Bank Secrecy Act, U.S. taxpayers must file an FBAR (FinCEN Form 114) if their foreign financial account balances exceed $10,000 in aggregate at any point during a calendar year. A failure to ...

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Under the Bank Secrecy Act, U.S. taxpayers must file an FBAR (FinCEN Form 114) if their foreign financial account balances exceed $10,000 in aggregate at any point during a calendar year. A failure to ...