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 ...

With the emergence of digital assets, the question has arisen whether digital assets held in “wallets” in foreign exchanges need to be reported on Internal Revenue Service (IRS) Form 8938, Statement ...

As part of the Foreign Account Tax Compliance Act (FATCA) passed by Congress in 2010, individual taxpayers are now required to report “specified foreign financial assets” on an information reporting ...

The Internal Revenue Service rarely penalizes taxpayers who have high balances in foreign bank accounts and fail to file the ...

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 ...

As if the various filing requirements were not enough, the US Internal Revenue Service (IRS) has added one more form to collect information from its citizens and residents on their foreign financial ...

The Internal Revenue Service plans to release a new information reporting form that taxpayers will need to use next tax season to report on certain types of foreign financial assets for tax year 2011.

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, ...

If you have a foreign bank account or assets, you hopefully know how many IRS eyes are on you. See 5 Nations Join U.S. In Tax Evasion Crackdown. While it's perfectly legal to have money or assets ...

(MENAFN- PR Newswire) What is Cryptocurrency? Cryptocurrency is a decentralized virtual currency. Unlike traditional currency, it exists independently of any government or financial institution.