Search for: "IRS/FBAR"
Results 181 - 200
of 835
Sort by Relevance
|
Sort by Date
15 Feb 2021, 2:28 pm
This is also true in subsequent years: if you retain investments, bank accounts or perhaps a pension account registered abroad, you may still have to file an FBAR. [read post]
11 Feb 2021, 4:17 am
The IRS is taking a greater interest in virtual currency holdings, and it recently announced that soon foreign held virtual currency accounts will have to be reported on FBARs alongside foreign bank and investment accounts. [read post]
1 Feb 2021, 12:05 am
They should also file their last 6 Foreign Bank Account Reports (FBARs), for each year in which the combined balances of any foreign financial accounts they have signatory authority of control over exceeded $10,000 at any point, to avoid missed FBAR penalties. [read post]
27 Jan 2021, 11:34 pm
The post The IRS Streamlined Procedure For American Expats in 2021 appeared first on Bright! [read post]
21 Jan 2021, 12:24 am
The IRS is taking steps to ensure that cryptocurrencies such as Bitcoin aren’t used to avoid taxes, so holding virtual currency must now be declared on Form 1040, and foreign crypto accounts will soon have to be reported on FBARs, too. [read post]
13 Jan 2021, 11:59 pm
The post The IRS Standard Deduction in 2021 for Expats appeared first on Bright! [read post]
8 Jan 2021, 7:11 am
Reporting Virtual Currency on FBARs On December 31, 2020, the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) in a notice stated it intends to propose to amend the regulations implementing the Bank Secrecy Act (BSA) regarding reports of foreign financial accounts (FBAR) on IRS FinCEN Form 114 to include virtual currency as a type of reportable account under 31 C.F.R. [read post]
8 Jan 2021, 7:11 am
Reporting Virtual Currency on FBARs On December 31, 2020, the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) in a notice stated it intends to propose to amend the regulations implementing the Bank Secrecy Act (BSA) regarding reports of foreign financial accounts (FBAR) on IRS FinCEN Form 114 to include virtual currency as a type of reportable account under 31 C.F.R. [read post]
7 Jan 2021, 1:23 am
The post IRS Announces Cryptocurrency Accounts to be Added to FBAR Reporting appeared first on Bright! [read post]
21 Dec 2020, 12:42 am
FBARs should be filed to FinCEN (the Financial Crimes authority), rather than to the IRS, online, by October 15th. [read post]
16 Dec 2020, 9:00 pm
U.S. taxpayers with financial assets overseas have an obligation to report these assets to the federal government. [read post]
10 Dec 2020, 1:48 am
What are IRS minimum income thresholds for US tax filing for expats? [read post]
7 Dec 2020, 1:35 am
Because FBARs are filed to FinCEN rather than to the IRS, penalties for not filing FBARs, or for inaccurate or incomplete filing, are high. [read post]
12 Nov 2020, 12:18 am
The Foreign Earned Income Exclusion can be claimed by filing IRS Form 2555. [read post]
8 Nov 2020, 11:25 pm
If also contains a clause allowing the US and Bangladeshi governments to share taxpayer information, and Bangladeshi banks pass on US account holders’ account info to the IRS too, so it’s not worth not filing or omitting anything on your return or FBAR. [read post]
8 Nov 2020, 8:57 am
The IRS may assess penalties for a person’s failure to file a required FBAR. [read post]
30 Oct 2020, 10:07 am
October 31 – FBAR – The foreign bank account filing deadline for folks in general. [read post]
26 Oct 2020, 12:42 am
If also contains a clause allowing the US and Portuguese governments to share taxpayer information, and Portuguese banks pass on US account holders’ account info to the IRS too, so it’s not worth not filing or omitting anything on your return or FBAR. [read post]
22 Oct 2020, 2:45 am
” – the IRS Furthermore, expats may have to report their foreign registered financial accounts and assets.Specifically, expats who have over $10,000 in total in foreign financial accounts, counting all of their foreign bank and investment accounts (including some foreign pensions), must file an FBAR (Foreign Bank Account Report). [read post]
21 Oct 2020, 12:26 am
Catching up Americans who haven’t been filing an FBAR but should have been may be able to catch up voluntarily without facing penalties, so long as they do so before the IRS contacts them. [read post]
