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Category: Hot Topics - Page 3

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Hot Topics

Posted on September 19, 2017

If you have money in offshore bank accounts or you have signature authority over offshore accounts, you're required to report those accounts to U.S. tax authorities. In addition to declaring accounts to the IRS, you also must comply with a requirement to file a Report of Foreign Bank and Financial Account (FBAR) with the Financial Crimes Enforcement Network (FinCEN) if the aggregate balance of your combined offshore accounts hits $10,000 at any point during the year. Many offshore account holders don't realize they have all these obligations, and thus, inadvertently fail to comply with them.

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Bitcoin Customer Info Sought Via John Doe Summons

Hot Topics, Offshore Account Update

Posted on December 16, 2016

The IRS has been aggressive in trying to identify hidden funds and collect back taxes. In response to intense offshore investigations which adversely impacted accountholder privacy, many individuals began trading in virtual currencies instead of investing funds offshore.  Now, however, the IRS is aggressively investigating currency trading platforms and is pursuing legal means to obtain information on accountholders.

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June is FBAR Time!

Events, Hot Topics

Posted on June 17, 2010

It is that time of year again - time to file your FBAR!  All FBARs must be received - not just postmarked - by June 30.

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