Tags » Form 8938

Should I Report My Bitcoins?

Digital currency, such as Bitcoin, Ethereum, or even the DAO, has been rising in popularity. I personally do not hold any virtual currency. I will talk about why in another post. 1,180 more words


Escaping the Quandary Posed by Unreported Foreign Accounts

 Many U.S. taxpayers have at least one financial account located in a foreign country. Failure to report an offshore account carries with it possible civil and criminal penalties. 2,578 more words


Americans Renounce Citizenship And Leaving

It seems crazy to call it the ‘New Normal’, but once again, record numbers of Americans are renouncing citizenship. Every three months, the Treasury Department publicly names individuals who renounced. 149 more words

01. Fyi

FBAR Form 8938 filings increase

FBAR, Form 8938 filings increase as taxpayers become more aware of reporting requirements

Six years ago, Congress passed the Foreign Account Tax Compliance Act (FATCA), which set in motion a wave of new reporting and disclosure requirements by individuals, foreign financial institutions, and others. 593 more words


Back to Basics Part XXXIV - Form 8938 - Statement of Specified Foreign Financial Assets

Originally published in the Cedar Street Times

March 4, 2016

For those of you living in the US (not just US citizens) with foreign bank accounts, foreign securities accounts, ownership interests in foreign corporations, partnerships, or other foreign potentially income generating assets, you may have a reporting requirement on Form 8938 – Statement of Specified Foreign Financial Assets.   736 more words

Back To Basics

Three More Swiss Banks Have Secured Non-Prosecution Agreements with the DOJ

Since our last update, three more Swiss banks have reached resolutions with the Justice Department under its Swiss Bank Program –Valiant Bank AG, Schroder & Co. 1,594 more words

Criminal Tax

Forcing #Americansabroad to renounce US citizenship is like #Civilforfeiture - Now "ain't that America"

Introduction – The general principles of Civil Forfeiture Reexamined

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Civil forfeiture is becoming increasingly prevalent in the United States and in Western democracies. 2,520 more words