02/04/2016
FBAR is the Foreign Bank Account Report. FBAR requires that if you have a foreign financial account or even signature authority over a foreign account, then you must file an FBAR Report. It is the Form TD F 90-22.1. Foreign financial accounts include bank accounts, brokerage accounts, mutual fund, trust or other types of foreign […]
02/04/2016
“It remains uncertain whether the IRS would or could effectively pursue those residing outside the United States in any realistic manner.” “Could the government actually carry their burden of demonstrating that the taxpayer “willfully” violated the FBAR filing requirements?” … U.S. taxpayers residing in the United States having previously undisclosed interests in foreign financial accounts […]