Posts Tagged ‘Foreign Bank Account Reporting (FBAR)’

FBAR Filing Deadline around the Corner

Monday, June 27th, 2011

The FBAR… anyone familiar with that term?  I would assume that most people aren’t, so let me explain. The FBAR is an acronym for the Report of Foreign Bank and Financial Accounts and is actually a form known as the TD F 90-22.1, a pdf directly downloadable from the IRS for your filing convenience.  Kelly Phillips Erb, aka: Tax Girl,  wrote an article for Forbes online explaining the important
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Offshore Account Holders Who Missed the October 15 Tax Amnesty Deadline Can Still Get Tax Help Reducing Severe FBAR Penalties

Thursday, October 22nd, 2009

More than 7,500 Americans rushed to take advantage of a the opportunity for tax amnesty offered through a special voluntary disclosure program for offshore accounts that ended last Thursday. But what can you do if you didn’t come forward to the IRS last week and still need to declare your offshore account?
If a U.S. taxpayer or U.S. resident was not able to file the voluntary disclosure memorandum by the October
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