File FBAR Online - Report of Foreign Bank Account Reporting

Why 1 in 4 expats

2022-07-14 11:33:09 by Eli Shevpool

The notion of American Dream often evokes images of opportunities, freedom, and a life filled with possibilities. However, for a growing number of American expatriates, this dream has started to lose its luster. A recent survey startled many when it revea ...

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The 5 Tax Consequences of Your Client Moving to Canada

2022-07-13 19:34:54 by John Spencerfield

It's not unusual for Americans to relocate to Canada or for Canadians who have lived in the U.S. for a while to do the same. Knowing how the tax laws in Canada and the United States differ from one another can assist you guide your client through the relo ...

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The Supreme Court will decide the FBAR penalty case.

2022-07-07 09:50:33 by Yaffa Swinkenheimer

The case of Romanian-American businessman Alexandru Bittner, who was fined $2.72 million for failing to file Financial Crimes Enforcement Network (FinCEN) Forms 114, Report of Foreign Bank and Financial Accounts (FBAR) (Bittner, No. 21-1195 (U.S. 6/21/22) ...

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FBAR and the Supreme Court

2022-06-27 22:53:14 by Erwin Mattegon

The Foreign Account Tax Compliance Act (FATCA), enacted in 2010, generally requires U.S. persons who have financial interests in foreign accounts totaling more than $10,000 at any time during the year to report such information to the Internal Revenue Ser ...

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What is the history of the FBAR?

2022-06-27 22:46:17 by Erwin Mattegon

The FBAR, or Foreign Bank and Financial Accounts Report, is a U.S. Treasury form that must be filed by certain U.S. taxpayers who have financial interests in or signature authority over foreign financial accounts. The FBAR is used to help the U.S. Governm ...

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