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 ...
The FinCEN files are more than 2,500 documents, most of which were files that banks sent to the US authorities between 2000 and 2017. They raise concerns about what their clients might be doing.
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 ...
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 ...
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.
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 ...
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