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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


Deadline to file FBAR Form 114 is June 30.

Don’t Miss Filing Deadlines Related to Foreign Income and Assets

Issue Number: IRS Special Edition Tax Tip 2015-1

Publication 54

All U.S. citizens and residents must report worldwide income on their federal income tax return. 44 more words

Tax Talk