Apr 8, 2023 | FBAR and FATCA, Personal U.S. expat taxes
As a US expat, it’s important to stay up-to-date with legal developments that could affect our finances. On Feb. 28, 2023, the US Supreme Court issued a ruling in the case of Bittner v. United States that could have a significant impact on non-willful penalties... 
Mar 5, 2023 | FBAR and FATCA, Personal U.S. expat taxes
Confused about the difference between FATCA and FBAR? Don’t get caught in the crossfire of incorrect filings and penalties. As an expat, it’s essential to understand the Foreign Bank Account Report and FATCA Form 8938 – the two most common forms you... 
Mar 3, 2023 | FBAR and FATCA, Personal U.S. expat taxes
When it comes to reporting foreign financial accounts as a US taxpayer abroad, there are two main forms to consider: FBAR and Form 8938. While they share many similarities, there are key differences between these two forms that can make a big difference in your... 
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...