Tags » FBAR

#FATCA Hearings (4/26/2017) - a very brief introduction

The Foreign Account Tax Compliance Act (#FATCA) is a law requiring all foreign financial institutions (FFI) to provide the United States’ Internal Revenue Service (IRS) with financial account details of any American Persons who has accounts with it. 926 more words

Politics

Foreign Account Reporting in a Nutshell

When I first started preparing tax returns in the late 90’s, foreign account reporting was not really a concern. Rarely was there a need to check yes to the question on Schedule B (Interest and Dividend Income) of Form 1040, to indicate the taxpayer had an interest in or signature authority over a foreign account. 1,362 more words

Income Taxes

Citizenship-based Taxation is Absurd

A Stupid Story

Larry worked for a great company, Universal Solution Associates. He worked on the highest end projects, led his industry in quality and quantity of projects completed. 862 more words

Literary

Green Light for those that need to File their Taxes - FBAR Reminder, Tax D Day Reminder

We now have the third corrected 1099’s and we are happy to say it looks like the coast is clear.

If you have a refund or are in need of filing quickly, this is your “Green light” to file ! 169 more words

Investing/Financial Planning

For All of You US Citizens Living Abroad - It's FBAR Time Again

Who Must File an FBAR

United States persons are required to file an FBAR if:

  1. The United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and…
  2. 65 more words

December 16, 2016: FinCEN extends FBAR deadline for some

Two notices from FinCEN – one a general change in FBAR (Reports of Foreign Bank and Financial Accounts), the other an extensions for certain people covered under a rulemaking change which is not yet finalized. 554 more words

Anti-Money Laundering

Foreign Bank Reporting

If you have an interest in a foreign bank accounts, it must be disclosed; failure to do so carries stiff penalties. You must file a Report of Foreign Bank and Financial Accounts (FBAR) if: (1) you are a U.S. 112 more words

Personal Finance