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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