Tag Archives: FBAR

Overview on FBAR financial form 114 and the rules and regulations behind it including when to file and whether or not you should consult a tax attorney to assist in the process.

Whether you’re new to foreign taxable income, or you’re an experienced international businessperson looking for some clarification, you might be wondering: “what is FBAR and FATCA, anyway?” The difference between FATCA and FBAR is simply this: one is a declaratory form (FBAR), while the other is a federal law that took effect in 2010 (FATCA). […]

It’s a simple fact of life that business is becoming increasingly global. For American citizens earning income or living abroad, it can be a huge wake up call to learn that the United States taxes based on earnings, not on physical location. As a result, well-intentioned people get into sticky — and potentially disastrous — […]

If you have foreign assets and/or accounts, you need to be aware of reporting requirements under the Foreign Account Tax Compliance Act (FATCA).

The deadline to file your FBAR is rapidly approaching. Here’s how to make sure you file FinCEN form 114 and properly disclose foreign assets and earnings.

The IRS is ending its Offshore Voluntary Disclosure Program (OVDP), which means that the last chance to take advantage of this hugely beneficial amnesty program is rapidly approaching.

If you hold foreign assets or earn money overseas, it’s critical that you are aware of your FBAR obligations. Learn more about how to protect yourself in the event of an FBAR audit.

In an increasingly connected economy, it’s important that private citizens and business owners tread carefully with tax implications both at home and abroad.

To avoid penalties, a U.S. person with offshore assets will have to disclose those assets and the related income to the IRS, as well as pay taxes on foreign income.