U.S. citizens and residents with financial interests in foreign accounts that exceed $10,000 at any time in a year must file an FBAR. The failure to file an FBAR can be costly. If the government shows ...

BEWARE - If you had any interest in a foreign financial account at any time during calendar year 2012, you may have an obligation to file an FBAR by June 30, 2013! U.S. persons having a financial ...

The United States Department of Treasury is again sharpening its sword upon crypto. In January 2021, the Department of Treasury’s Financial Crimes Enforcement Network issued Notice 2020-2. The Notice ...

TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR), must be filed by U.S. persons having a financial interest in or signature authority or other authority over any financial account in ...

The maximum civil penalty for non-willful failure to comply with FBAR reporting requirements is $10,000. 1 However, additional penalties may apply for willful violations. Penalties for a willful ...

The Bank Secrecy Act (BSA), P.L. 91-508, requires certain U.S. persons who have a financial interest in or signature authority over a foreign financial account to report the account annually to the ...

VICENZA, Italy -- Working and living on an overseas installation presents an entirely new realm of financial responsibilities. For those who choose to keep money in Italian or other foreign banks, you ...

Many tax professionals are experiencing clients coming out of the woodwork this year to discuss foreign bank accounts and what they should do about them. The clients have become concerned about ...

If you or your business has $10,000 in foreign accounts, it's important that you pay attention to this year's FBAR reporting regulations. The deadline for filing this year's FBAR (Report of Foreign ...