Category: Foreign Bank Account Reporting (FBAR – FinCen Form 114)
7 Answers to FAQs About IRS Form 8938
Jan 03, 2022
The IRS Form 8938 is one of the most important forms you must complete as an expat. If you're unsure what IRS Form 8938 is or how to file it, don't worry; this…
Foreign Account Tax Compliance – You See What Interesting Facts Here
Nov 23, 2021
The Skinny On The Foreign Account Tax Compliance Act (FATCA) How Is It Impacting You? It’s what Swiss bank executives yelled out when they received fines for aiding American citizens in hiding assets…
FBAR Deadline – Know How To Avoid Harsh Penalties
Nov 19, 2021
There a number of unique and different due dates that apply to U.S. overseas taxpayers, but some are extremely critical to avoiding harsh penalties if missed. Avoid Disastrous Results – Don’t Miss The…
This Is Foreign Bank Account Reporting | See How To Handle
Nov 19, 2021
U.S. citizens, resident aliens and certain nonresident aliens are required to report worldwide income from all sources including foreign bank account reporting and pay taxes on income from those accounts. There are many…
Foreign Accounts – Know The Important Info To The Non Disclosure
Oct 22, 2021
Disclosing Foreign Bank Accounts Unless you have complied with the FBAR reporting requirements to report your foreign accounts or entered into the Offshore Voluntary Disclosure Program (OVDP) , you risk being criminally prosecuted…
FBAR Willfulness – Reliable Info You Need To Know
Oct 13, 2021
FBAR Willfulness A key determination in whether a taxpayer is subject to criminal and/or civil penalties for the failure to disclose foreign bank accounts on an FBAR is whether the failure to file…
FBAR Late Filing – Informative Options To Make You Compliant
Oct 13, 2021
FBAR Late Filing Options The implementation of FATCA and ongoing efforts to uncover FBAR late filing by the IRS, Treasury Department and U.S. government in general to ensure compliance with U.S. tax reporting…
FBAR Filing | Best Helpful Tips When You File FBAR
Oct 08, 2021
FBAR Filing Overview FBAR filing on the FinCEN Form 114, Report of Foreign Bank and Financial Accounts is required when a U.S. person has a financial interest in or signature authority over one…
International Data Exchange – Important Truth About Unreported Foreign Accounts You Need To Know
Sep 29, 2021
International Data Exchange On January 12, 2015, the IRS announced the opening of the International Data Exchange Service (IDES) for enrollment. Financial institutions and host country tax authorities will use IDES to securely…
Unreported Offshore Accounts – See Advice To Stop Hiding Money
Sep 22, 2021
Hiding Money or Income Offshore Among the “Dirty Dozen” List of Tax Scams for the 2015 Filing Season The Internal Revenue Service recently announced on January 28, 2015 that avoiding taxes by hiding…