Forbes

Understanding FATCA: Why File An FBAR And Form 8938 As An Expat Abroad

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 ...
JD Supra

What Happens If You Don't File an FBAR

It is common for a US taxpayer to ask “what happens if you don’t file an FBAR or a Form 8938, Statement of Specified Foreign Assets with the IRS? Why do I have to worry about filing an FBAR in San ...
East Oregonian

From the Tax Law Offices of David W. Klasing – When is the IRS Likely to View Your Failure to file Foreign Bank Account Reporting (FBAR) as Criminal Verus Merely Negligent

Under the Bank Secrecy Act, U.S. taxpayers must file an FBAR (FinCEN Form 114) if their foreign financial account balances exceed $10,000 in aggregate at any point during a calendar year. A failure to ...
Forbes

FinCEN Extends FBAR Filing Deadlines For Victims Of Recent Natural Disasters

Victims of these recent natural disasters are granted an FBAR filing extension for the 2023 calendar year. Your rule of thumb: FinCEN deadlines for FBAR filings will be the same as the IRS deadlines.
JD Supra

Supreme Court Rules that FBAR Penalties are Per-FBAR Form, Rejecting IRS's Per-Account Position

Today, the Supreme Court issued a 5-4 decision in Bittner v. United States, ruling that the Bank Secrecy Act’s $10,000 maximum penalty for a nonwillful failure to file a timely and accurate FBAR ...