The Foreign Account Tax Compliance Act is fundamental as it affects how you report your finances, especially as an expat abroad. FATCA is why you may need to file a Report of Foreign Bank and ...

A US Person that owns US entities like corporations or partnerships that conduct cross-border business may have a Form 8938 (Statement of Specified Foreign Financial Assets) filing obligation. IRS ...

What Are Report of Foreign Financial Assets (Form 8938)? Form 8938, also known as the "Statement of Specified Foreign Financial Assets," is a mandatory disclosure form required by the Internal Revenue ...

No one likes FATCA, least of all U.S. persons living abroad—see Expats Call For FATCA Repeal—and financial institutions that will bear the brunt of the work tooling up to comply with this massive U.S.

Just when you think you know all you need to know about FBAR (Foreign Bank Account Reporting), a product of the Bank Secrecy Act of 1970, the impending FATCA (Foreign Account Tax Compliance Act) ...

In the Final Regulations effective December 12, 2014, TD 9706, Reporting of Specified Foreign Financial Assets, the IRS addressed such issues as dual residents, valuation challenges, foreign currency, ...

Cryptocurrency is a decentralized virtual currency. Unlike traditional currency, it exists independently of any government or financial institution. Additionally, it can be sent between users without ...

The Internal Revenue Service spent nearly $380 million to implement the Foreign Account Tax Compliance Act, but so far isn’t prepared to enforce the law, according to a new report. Processing Content ...

When Congress passed the Foreign Account Tax Compliance Act (FATCA) (as part of the Hiring Incentives to Restore Employment Act, P.L. 111-147) in 2010, the Joint Committee on Taxation estimated it ...