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Tag Archives: FBAR
Online Gambling and Cryptocurrency Mailing Addresses for 2025
If you have one or more foreign financial accounts and you have $10,000 aggregate in those account(s) at any time during 2024, you must file the Report of Foreign Bank and Financial Accounts (the “FBAR”). This is Form 114 from … Continue reading →
Posted in Cryptocurrencies, FINCEN, Gambling, International
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Tagged FBAR
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FBAR Non-Willful Penalty Is Per Report, Not Per Account
Let’s assume you have a non-willful violation of filing the FBAR (Form 114, the Report of Foreign Bank and Financial Accounts). Is the maximum penalty ($10,000) per account or per report? The Circuit Courts of Appeal had split on this … Continue reading →
Posted in FINCEN, International, IRS, Supreme Court
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Tagged FBAR
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Online Gambling and Cryptocurrency Addresses for 2023
[This list has been superceded by the 2024 list.] If you have one or more foreign financial accounts and you have $10,000 aggregate in those account(s) at any time during 2022, you must file the Report of Foreign Bank and … Continue reading →
Posted in Cryptocurrencies, Gambling, International
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Tagged FBAR
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FINCEN Gives FBAR Filing Relief for Individuals Impacted by Hurricane Ian
FINCEN announced today that they are following the IRS and giving relief to taxpayers impacted by Hurricane Ian: FinCEN announced today that victims of Hurricane Fiona in Puerto Rico; Hurricane Ian in Florida, North Carolina, and South Carolina; and storms … Continue reading →
Posted in FINCEN
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Tagged FBAR, HurricaneIan
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Is It One Penalty of $10,000 or Multiple Penalties of $10,000?
Suppose you are a resident of a foreign country–say, Romania–and you have foreign financial accounts. You need to file the FBAR (Report of Foreign Bank and Financial Accounts) to tell the Financial Crimes Enforcement Network (FINCEN) what foreign accounts you … Continue reading →
Posted in International, Supreme Court
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Tagged FBAR
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Bozo Tax Tip #4: They Shoot Jaywalkers, Don’t They?
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 →
Posted in FINCEN
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Tagged BozoTaxTips, FBAR
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Online Gambling and Cryptocurrency Addresses for 2022
[This listing has been replaced by the 2023 listing.] If you have one or more foreign financial accounts and you have $10,000 aggregate in those account(s) at any time during 2019, you must file the Report of Foreign Bank and … Continue reading →
Posted in Cryptocurrencies, FINCEN, Gambling, International
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Tagged FBAR
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IRS Reminds Taxpayers of April FBAR Deadline. So What!
The IRS sent out a press release this morning noting the FBAR deadline remains April 15th. The FBAR is the Report of Foreign Bank and Financial Accounts (FinCEN Form 114), and must be filed if you have $10,000 aggregate in … Continue reading →
Posted in FINCEN, IRS
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Tagged 2021.Tax.Season, FBAR
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Clarity on Whether Cryptocurrency Must be Reported on the FBAR
A vexing question has been whether or not foreign cryptocurrency exchanges must be reported on the FBAR. At a conference in 2019, a representative from FINCEN said no; however, the instructions on the FBAR imply they should be reported. At … Continue reading →
Posted in Cryptocurrencies, FINCEN, International
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Tagged FBAR
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Forgot to File the FBAR? A Typo Gives You Two More Weeks
The FBAR (Report of Foreign Bank and Financial Accounts) was effectively due last Thursday, October 15th. FINCEN (the Financial Crimes Enforcement Agency) issued an extension (the notice was released on October 6th) for those impacted by the recent natural disasters … Continue reading →
Posted in FINCEN, International
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Tagged FBAR
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