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 ...

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 ...

If you had foreign accounts in 2015 that in the aggregate topped $10,000 at any time during the year, you should file an FBAR–also called Form 114. June 30, 2016 is the filing deadline, and FinCEN now ...

The Internal Revenue Service has temporarily suspended the requirement to file a Report of Foreign Bank and Financial Accounts for the 2009 and earlier calendar years, for people who are not U.S.

The Internal Revenue Service is reminding all taxpayers with a filing requirement for a foreign bank account report to report their foreign assets by the June 30 deadline. FBAR filings have risen ...

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 ...

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 ...

Tax practitioners and taxpayers alike have long grappled with whether virtual currency, aka cryptocurrency, is reportable for purposes of FinCEN Form 114, Report of Foreign Bank and Financial Accounts ...

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 ...

In such scenarios, a dual-licensed Criminal Tax Defense Attorney & CPA, such as those at the Tax Law Offices of David W. Klasing, can offer vital attorney-client privilege (in stark contrast to ...