Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. This article is more than 10 years old. Is filing your first FBAR ...

The Financial Crimes Enforcement Network (FinCEN) extended filing deadlines for foreign bank and financial accounts reports (FBAR) for people in federally declared disaster areas of four hurricanes ...

For years, FBAR litigants have made the commonsense argument that large willful FBAR penalties, which can exceed the value of the unreported foreign accounts themselves, violate the excessive fines ...

U.S. Taxpayers (includes a citizen, permanent resident, corporation, partnership, limited liability company, trust and estate) are required to file a Report of Foreign Bank and Financial Accounts ...

Over the past 10 years, this column has detailed the Internal Revenue Service’s aggressive pursuit of taxpayers with undisclosed offshore accounts. In addition to criminal prosecutions, the IRS’s ...

WALLINGFORD, CT / ACCESSWIRE / July 27, 2016 / IRSMedic.com, also known as Parent & Parent, LLP, recently announced that its 2015 FBAR filing guide was successfully shared across social media and ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. This article is more than 4 years old. On October 14, 2020, ...

The Internal Revenue Service has extended the filing deadline yet again for people to report on foreign tax accounts, giving them until June 30 of next year, but only under certain circumstances.

The Internal Revenue Service has temporarily suspended the requirement to file a Report of Foreign Bank and Financial Accounts for the 2009 and earlier calendar years, for people who are not U.S.

Tax practitioners and taxpayers alike have long grappled with whether virtual currency, aka cryptocurrency, is reportable for purposes of FinCEN Form 114, Report of Foreign Bank and Financial Accounts ...