Tag Archives: FBAR
Wire Transfer Audits and FATCA
What Every Taxpayer Needs to Know
by Attorney Morris N. Robinson, CPA, LLM
February 19, 2018
1. FATCAFATCA: The Foreign Account Tax Compliance Act was signed into law by President Obama on March 18, 2010. There ...
Do Recent FBAR Changes Indicate a Softening of the IRS’ Stance Toward Taxpayers with Foreign Financial Accounts?August 14, 2015
Delinquent International Information Tax Returns May Extend the Statute of Limitations on Your Entire Federal Tax ReturnJune 2, 2015
More and more, U.S. taxpayers are becoming aware of their federal tax reporting obligation for foreign financial accounts, interests and assets. With increased IRS enforcement, broader media coverage of international tax evasion cases, and the implementation of FATCA reporting by foreign financial institutions, the term “FBAR”...
Now that the April 15th deadline has passed and tax season is over, most taxpayers can breathe a sigh of relief. At least for another year. For others with overseas financial accounts and interests, one more reporting hurdle must still be overcome: filing FinCEN Form 114, Report of...