The Report of Foreign Bank and Financial Account, or FBAR, is an annual informational tax report that must be filed by certain U.S. individuals and legal entities to report their foreign bank accounts ...

June 30 is the deadline for filing the current year Report of Foreign Bank and Financial Accounts, Treasury Form TD F 90-22.1 (FBAR). “United States persons” having a financial interest in or ...

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) ...

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 Financial Crimes Enforcement Network is allowing some extensions and exemptions to its new requirements that all FineCEN reports be filed electronically starting July 1, 2012, while pushing back ...

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 IRS announced Friday in Notice 2009-62 that it is extending for certain taxpayers the due date for filing calendar year 2008 Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR) ...

When it comes to the FBAR filing requirements, if a taxpayer's nondisclosure is found to be willful, they may be subject to draconian penalties of up to 50% of the amount of the highest annual ...

IRVINE, Calif., March 10, 2022 /PRNewswire/ -- Under federal tax law, U.S. citizens with a financial interest in or signature authority over a foreign bank account with a combined highest one time ...