Americans with bank accounts in foreign countries are often required to file a Report of Foreign Bank and Financial Accounts (FBAR) with the IRS. In recent years, the U.S. government has been cracking down on violators of this requirement, with an increasing number of foreign countries agreeing to share information with U.S. authorities. In 2013 […]
Tag Archives | Foreign Bank Accounts
Guidelines for Foreign Bank Accounts and Tax Reporting
Businesses and individuals operating foreign bank accounts should pay close attention to whether they are required to report this financial data. The IRS has guidelines in place that determine whether someone should be disclosing this information while filing their tax returns. If you feel like you may be required to report this as taxable income, […]
