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 ...

BEWARE - If you had any interest in a foreign financial account at any time during calendar year 2012, you may have an obligation to file an FBAR by June 30, 2013! U.S. persons having a financial ...

June 30 is the deadline for filing the current year Report of Foreign Bank and Financial Accounts, Treasury Form TD F 90-22.1 (FBAR). “United States persons” having a financial interest in or ...

As reported in our prior client alerts,[1] the Report of Foreign Bank and Financial Accounts, FinCEN Form 114 (FBAR), must be filed by a U.S. person that holds a financial interest in, or signature or ...

On December 16, 2016, FinCEN issued Notice 2016-1, extending the filing deadline for the Report of Foreign Bank and Financial Accounts, FinCEN Form 114 (FBAR), for certain individuals with signature ...

In 1970, Congress passed the Bank Secrecy Act, or BSA, widely considered to be the first law on the books to require banks and other financial institutions to assist law enforcement agencies in the ...

On Feb. 28, 2023, the U.S. Supreme Court issued its opinion in Bittner v. United States, which focused on the correct penalty amount for non-willful violations of the foreign bank and financial ...

For Americans holding digital assets on foreign platforms without reporting them, understanding the potential FBAR ...

If you or your business has $10,000 in foreign accounts, it's important that you pay attention to this year's FBAR reporting regulations. The deadline for filing this year's FBAR (Report of Foreign ...

TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR), must be filed by U.S. persons having a financial interest in or signature authority or other authority over any financial account in ...

U.S. taxpayers with foreign bank or financial accounts totaling more than $10,000 at any point during the year are required to file the FBAR - and the penalty schedule for failures has been adjusted ...

Many tax professionals are experiencing clients coming out of the woodwork this year to discuss foreign bank accounts and what they should do about them. The clients have become concerned about ...