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 ...

When is a US Taxpayer required to disclose offshore accounts on an FBAR and IRS Form 8938? While many US taxpayers and expatriates have come to understand the requirements of the FinCEN Form 114 or ...

As part of the Foreign Account Tax Compliance Act (FATCA) passed by Congress in 2010, individual taxpayers are now required to report “specified foreign financial assets” on an information reporting ...

The Internal Revenue Service plans to release a new information reporting form that taxpayers will need to use next tax season to report on certain types of foreign financial assets for tax year 2011.

I file Form 8938, Foreign Financial Assets, with my 1040 to the IRS. My tax attorney says I also must file FBAR (foreign bank account) Form 114, at a different U.S. Treasury, non-IRS address, with a ...

About 1 in 5 expatriates are unfamiliar with the Foreign Account Tax Compliance Act, a law that requires taxpayers to report assets held overseas. Penalties for deliberate failure to report are as ...

If you have a foreign bank account or assets, you hopefully know how many IRS eyes are on you. See 5 Nations Join U.S. In Tax Evasion Crackdown. While it's perfectly legal to have money or assets ...

As if the various filing requirements were not enough, the US Internal Revenue Service (IRS) has added one more form to collect information from its citizens and residents on their foreign financial ...

In the Final Regulations effective December 12, 2014, TD 9706, Reporting of Specified Foreign Financial Assets, the IRS addressed such issues as dual residents, valuation challenges, foreign currency, ...

(MENAFN- PR Newswire) What is Cryptocurrency? Cryptocurrency is a decentralized virtual currency. Unlike traditional currency, it exists independently of any government or financial institution.

As the 2014 tax filing season progresses we are finding that clients are confused as to what information must appear on FinCEN Form 114 Report of Foreign Bank and Financial Accounts and what ...