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 ...
Forbes

Understand FinCEN FBAR: Report Foreign Financial Accounts October 15

The Report of Foreign Bank and Financial Accounts (FinCEN Form 114) commonly called the FBAR is a crucial reporting requirement for U.S. persons with foreign financial accounts. With the deadline for ...
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 ...
Business Insider

From the Tax Law Offices of David W. Klasing - Schwarzbaum Case's Illustrates FBAR Willful Penalties and How FBAR Willful Penalties Are Calculated

IRVINE, Calif., April 14, 2023 /PRNewswire/ -- U.S. citizens who hold foreign bank accounts valuing more than $10,000 on any day of the year are required to report file a Report of Foreign Bank and ...
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 ...