As the 2016 tax year winds down, there is no better time than now to get your finances in order. Let’s face it, the last thing you want to think about during the holiday season is taxes. I compiled a list of the deadlines to follow after year-end. Please note that legislation during the year changed […]
FinCEN Form 114, formerly referred to as “FBAR”, Report of Foreign Bank and Financial Accounts, is used to report a financial interest in or signature authority over a foreign financial account. The “FBAR” is due June 30 this year to report 2015 accounts, with no extensions allowed. As part of the Surface Transportation and Veterans […]
Several years ago, the IRS passed legislation aimed to catch at tax cheats harboring income producing assets in foreign bank accounts. The legislation required taxpayers to disclose details relating to off shore banking accounts to the U.S. Treasury (and more recently on Form 8938 for the IRS). The form, referred as the Report of Foreign […]