Category Archives: FINCEN

Online Gambling and Offshore Cryptocurrency Exchange Mailing Addresses for 2019

Posted on February 5, 2019 by Russ

This list has been superceded by the 2020 list. With the United States v. Hom decision, we must again file an FBAR for foreign online gambling sites. An FBAR (Form 114) is required if your aggregate balance exceeds $10,000 at … Continue reading →

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The FBAR Is *Not* Due Tomorrow

Posted on June 28, 2018 by Russ

Most tax-related deadlines are on the 15th of various months. Income tax returns for individuals are due on April 15th; the extended deadline is October 15th. But just to have fun with us there are some exceptions. One of these … Continue reading →

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Online Gambling and Offshore Cryptocurrency Exchange Addresses for 2018

Posted on January 24, 2018 by Russ

This list has been superseded by the 2019 list. With the United States v. Hom decision, we must again file an FBAR for foreign online gambling sites. An FBAR (Form 114) is required if your aggregate balance exceeds $10,000 at … Continue reading →

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January 31st Tax Deadlines: 2016 Hurricane Extensions and Information Returns

Posted on January 24, 2018 by Russ

We’re one week away from the first tax deadline of the 2018 Tax Season along with the final tax deadline for filing 2016 tax returns. Taxpayers on extension for filing 2016 tax returns because of Hurricanes Harvey, Irma or Maria … Continue reading →

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Harvey and Irma Relief Includes the FBAR

Posted on September 13, 2017 by Russ

Taxpayers with $10,000 aggregate in one or more foreign financial accounts must file an FBAR (Report of Foreign Bank and Financial Accounts, Form 114) with the Financial Crimes Enforcement Network (FINCEN). FINCEN has announced on their website that they are … Continue reading →

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Do You Need a License to Sell Bitcoins?

Posted on May 15, 2017 by Russ

Let’s say I own some Bitcoins. I want to sell them to a friend. Do I need a license to do that? This question came up after I was informed that a Missouri man pleaded guilty to operating an illegal … Continue reading →

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FINCEN Announces Due Dates for 2016 FBARs

Posted on December 19, 2016 by Russ

The Financial Crimes Enforcement Network (FINCEN) announced the due dates for 2016 Report of Foreign Bank and Financial Accounts (FBAR, Form 114). The FBAR will now be due on the same day as tax returns with an automatic extension for … Continue reading →

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FBAR Deadline Approaches

Posted on June 20, 2016 by Russ

Ten days from today is June 30th. That’s the deadline for filing Form 114, the Report of Foreign Bank and Financial Accounts (the “FBAR”). There are no extensions available. The FBAR is a report. There is no tax to pay. … Continue reading →

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What FINCEN Should Do Regarding FBAR Filing Dates and 25 or More Accounts

Posted on April 27, 2016 by Russ

On March 1st, FINCEN issued a press release noting that they requested comment regarding a proposal such that individuals with 25 or more foreign financial accounts would have to report the details on those accounts rather than just noting they … Continue reading →

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Bozo Tax Tip #1a: They Shoot Jaywalkers, Don’t They? (Or Ignoring the FBAR!)

Posted on April 15, 2016 by Russ

I have, unfortunately, become quite competent in the Report of Foreign Bank and Financial Accounts. That form is better known as the FBAR. It used to have the form number TD F 90-22.1 (yes, it really did) but now goes … Continue reading →

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