Even as people breathe a sigh of relief subsequent conclusion of the tax period, individuals with foreign accounts along with other foreign financial assets may not yet be through using tax reporting. The Foreign Bank Account Report (FBAR) is due by June 30th for all qualifying citizens. The FBAR is a slot online form that is filled by all U.S. citizens, residents, and U.S. entities that own bank accounts, are bank signatories to such accounts, or possess a controlling stakes to at least or many...
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