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 ...

FinCEN recently took another important step toward bringing virtual currency into the financial assets reporting scheme. Taxpayers that have $10,000 or more in a foreign bank account have long been ...

U.S. taxpayers with foreign bank or financial accounts totaling more than $10,000 at any point during the year are required to file the FBAR - and the penalty schedule for failures has been adjusted ...