Report Foreign Bank Accounts on Your 2014 Taxes
On July 1 2014, the Foreign Account Tax Compliance Act of 2010 (FATCA) was fully implemented. This act requires foreign financial institutions to report to the IRS the name, address, taxpayer identification number, account number, year-end account balance, and any dividends, interest or income paid or accredited to the account. This reporting requirement applies to […]
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