A foreign bank account can create a major U.S. tax filing duty. The FBAR, or FinCEN Form 114, applies when qualifying foreign accounts exceed $10,000 combined at any time. U.S. citizens, residents, ...
IRS Reminds Taxpayers with Foreign Assets of Their FBAR/FATCA Obligations As Key Deadline Approaches
Today the Internal Revenue Service issued two public notices reminding taxpayers of their obligations to report foreign assets as the June 30 FBAR deadline fast approaches. Each notice referred to the ...
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