How To Report Cryptocurrency on Your 2021 Federal Returns
Offshore Account UpdatePosted on March 31, 2021
Posted on March 31, 2021
Posted on March 19, 2021
In addition to filing their federal income tax returns, many U.S. taxpayers also need to file FinCEN Form 114 (commonly known as an “FBAR”) on an annual basis. For those who are required to file an FBAR, failure to do so can have significant consequences, including the potential for criminal prosecution under the federal Bank Secrecy Act (BSA). So, do you (or did you) need to file an FBAR with your 2021 return? Boston FBAR attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, explains:
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