The Report of Foreign Bank and Financial Accounts (FinCEN Form 114) commonly called the FBAR is a crucial reporting requirement for U.S. persons with foreign financial accounts. With the deadline for ...

The Report of Foreign Bank and Financial Account, or FBAR, is an annual informational tax report that must be filed by certain U.S. individuals and legal entities to report their foreign bank accounts ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. You may fear the IRS. But it is the Financial Crimes Enforcement ...

In today’s article, we look at 10 key points about the FBAR, including some important practical interpretations of the law. As the US cracks down on foreign bank and financial accounts, it only means ...

The Internal Revenue Service has extended the deadline for filing a report on foreign bank accounts to Sept. 23 from the original June 30 deadline as it seeks to crack down on offshore tax havens.

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 ...

A federal district court in Texas recently took up an interesting FBAR issue: whether civil FBAR penalties survive death? That is, if a taxpayer/account holder dies after the IRS assesses an FBAR ...

The U.S. Supreme Court held Tuesday in a 5-4 decision that the $10,000 penalty for a nonwillful failure to file a Report of Foreign Bank and Financial Accounts (FBAR) for foreign accounts accrues per ...