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 ...

The Supreme Court is set to decide how penalties are determined for non-willful failure to comply with FBAR filing requirements. On June 21, 2022, the Supreme Court of the United States (SCOTUS) ...

In this context the legal duty for the taxpayer with a reportable interest in a foreign bank account is to report these accounts under the FBAR where required. Thus, a taxpayer with knowledge of ...