Sep 6, 2021 | FBAR and FATCA, Personal U.S. expat taxes
Most US expats need to file an FBAR (Foreign Bank Account Report) annually. The FBAR filing obligation is triggered when you have a financial interest in or signature authority over financial foreign assets with a value of $10,000 or more at any point during the year....
Jul 14, 2021 | FBAR and FATCA, Personal U.S. expat taxes
How would you feel if you found your bank account frozen? After all the sweat and the sacrifice, you make after hours of working and putting together all your resources only for the IRS (Internal Revenue Service) to freeze them. Can the IRS freeze your foreign bank...
Feb 24, 2020 | FBAR and FATCA, Personal U.S. expat taxes
Regarding the FORM 8938, there have been so many intricacies with respect to income tax return filing and compliance with federal tax laws. Recently, there have been a number of administrative requirements for disclosing local and foreign financial assets. One such...
Oct 4, 2019 | FBAR and FATCA, Personal U.S. expat taxes
You’re living your adventure and you’re settled in your new home. You are having non-US bank accounts, a non-US employer and a non-US social life. You have limited ties with the US. The people who pay you (banks, employer) are not in touch with the IRS. That’s...
Mar 12, 2019 | FBAR and FATCA
What is FBAR filing and who needs to report it? You may have heard of FBAR filing yet still have a vague understanding of it and whether it’s something you need to do. FBAR means Foreign Bank Account Report and it refers to FinCEN Form 114, Report of Foreign Bank and...
Mar 23, 2018 | FBAR and FATCA
It is essential as a US expat that you understand The Foreign Account Tax Compliance Act, commonly known as the FATCA. It’s an ongoing effort of the US government to combat offshore tax evasion. This law has filing requirements that affect American expats of all...
