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 ...

U.S. persons are required to file an FBAR if they have a financial interest (see Q ) in foreign bank accounts with an aggregate value exceeding $10,000 at any time during the calendar year (the ...

The Report of Foreign Bank and Financial Account, or FBAR, is an annual informational tax report that must be filed by certain U.S. individuals and legal entities to report their foreign bank accounts ...

The Supreme Court is set to decide how penalties are determined for non-willful failure to comply with FBAR filing requirements. On June 21, 2022, the Supreme Court of the United States (SCOTUS) ...

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 ...

The IRS announced Friday in Notice 2009-62 that it is extending for certain taxpayers the due date for filing calendar year 2008 Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR) ...

When it comes to the FBAR filing requirements, if a taxpayer's nondisclosure is found to be willful, they may be subject to draconian penalties of up to 50% of the amount of the highest annual ...

IRVINE, Calif., March 10, 2022 /PRNewswire/ -- Under federal tax law, U.S. citizens with a financial interest in or signature authority over a foreign bank account with a combined highest one time ...