U.S. Taxpayers (includes a citizen, permanent resident, corporation, partnership, limited liability company, trust and estate) are required to file a Report of Foreign Bank and Financial Accounts ...

In Bittner v United States, SCOTUS settled the question of the appropriate method of calculating strict liability penalties for the failure to timely disclose reportable accounts on an FBAR.

The FBAR can look like a routine Treasury filing. It is anything but that for people with money held overseas. U.S. citizens, residents and certain U.S. entities may have to report foreign financial ...

The U.S. Supreme Court Building in Washington, D.C., is the seat of the Supreme Court of the United States and the Judicial Branch of government. (Photo by Robert Alexander/Getty Images) Alexandru ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. You may fear the IRS. But it is the Financial Crimes Enforcement ...

The Internal Revenue Service has extended the deadline for filing a report on foreign bank accounts to Sept. 23 from the original June 30 deadline as it seeks to crack down on offshore tax havens.

In today’s article, we look at 10 key points about the FBAR, including some important practical interpretations of the law. As the US cracks down on foreign bank and financial accounts, it only means ...

The U.S. District Court held that the IRS properly assessed willful FBAR penalties against a deceased taxpayer’s estate for failing to report a foreign financial account under the Bank Secrecy ...