The IRS has clearly identified legitimate reasons why "U.S. Persons" would establish or maintain ownership in a foreign trust ...

On 1/8/25, the National Taxpayer Advocate (NTA) published its 2024 Annual Report to Congress and identified taxpayers’ ...

The Delinquent FBAR Submission procedures only apply to late-filed FBARs. Under these procedures, the taxpayer submits the late FBARs to FinCEN with an explanation for their tardiness. If the ...

A whistleblower complaint filed with the U.S. Treasury Department's Financial Crimes Enforcement Unit, or FinCEN, alleges that Mastercard and Visa failed to stop their payment networks from ...

Confused by the FBAR, the Foreign Earned Income Exclusion or Foreign Tax Credit? MyExpatTaxes presents this guide on how to file your US taxes from abroad.

In contrast, foreign hedge funds, private equity funds, and purely virtual currency holdings are not universally reportable under current FBAR regulations-though FinCEN has indicated that such ...

The Financial Crimes Enforcement Network extended filing deadlines for reports of foreign bank and financial accounts (FBAR) for people in federally declared disaster areas of five storms. It also is ...

Are US Citizens Required to Report Australian Property to the IRS": Find out if US citizens must report ownership of Australian property to the IRS, and learn about the related regulations and ...