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FBAR Penalties 2020

FBAR Penalties 2020

In 2019-2020, FBAR Penalty Enforcement is at an all-time high. If a person does not timely file their annual FBAR with FinCEN in the current year, they may be subject to FBAR Penalties — but the penalties may be reduced or even eliminated through reasonable...
Same due date as Form 1040. Do not forget it!

Same due date as Form 1040. Do not forget it!

The Foreign Bank Accounts (FBAR) Report changed from using the TD F 90-22.1 paper form to the online FinCEN Form 114. It is used to report financial interest in or signature authority over foreign financial accounts and is an information return only, so there will be...