Foreign Bank Account Reporting (FBAR) | US International Tax Advisors

25 06 '15

3 Important Things You Have to Know About FBAR

Benjamin Franklin once said, “In this world, nothing can be said to be certain, except death and taxes.” These words have never been more relevant now that international tax compliance is growing as more nations sign tax data sharing agreements. 3 Important Things You Have to Know About FBAR was last modified: August 10th, 2015…

23 06 '15

Research Reveals US Expats’ Thoughts on Voting While Abroad

Expat Americans have revealed they don’t feel well-represented by the US government, but many do not bother to vote in elections even if they can do so, research has found. There are an estimated 7.6 million Americans living abroad but a poll has found that only 58% of them voted in the last Presidential election…

19 06 '15

6 Things to Know about Form 8938 and FinCEN Form 114

Some taxpayers are confused about the new Form 8938 and FinCEN Form 114 (Report of Foreign Bank and Financial Accounts). Simply put, the new form does not in any way replace or affect your responsibility as a taxpayer to file the existing FinCEN Form 114. Taxpayers must file each form. 6 Things to Know about…

16 06 '15

EU, Switzerland Move to Curb Tax Evasion

BRUSSELS / ZURICH – The EU and Switzerland Wednesday signed an agreement for automatic exchange of information on the financial accounts of residents from 2018, paving way for improved clamp down on tax evasion, the European Commission has said. Read the full article… EU, Switzerland Move to Curb Tax Evasion was last modified: August 10th,…

10 06 '15

4 Foreign Assets to be Reported on Your Form 8938

Disclosure and worldwide tax reporting is growing more complex. Under the Foreign Account Tax Compliance Act (FATCA), in addition to filing a Report of Foreign Bank and Financial Accounts (FBAR), you must file a Form 8938—your Statement of Specified Foreign Financial Assets—if your off-shore assets meet certain criteria. Penalties may be involved if these are…