Foreign Banking

FBAR Filing: It’s the Law

The Foreign Account Transactions Compliance Act (FATCA) was fully implemented by the IRS on July 1, 2014. After four years of delays, the IRS is now requiring all foreign banks to report accounts held by U.S. taxpayers with an average balance of $10,000 during the tax year. And if you think there might be a

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Will FATCA Doom the U.S. Dollar?

The Foreign Account Tax Compliance Act (FATCA) was a provision of the Hire Act, which was passed by Congress in March of 2010. The IRS has made several delays in the implementation of FATCA but more than four years later; it finally took effect. It is a little known IRS rule that went into effect

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