REPORTING FOREIGN ASSETS: ANSWERS TO YOUR TOP QUESTIONSBondBeebe
Brian Wynne, CPA
With the June 30 deadline approaching for filing FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), we’ve posted over at JDKatz’s “The Joy of Tax Law” blog, providing a number of details on the requirements for reporting foreign assets. Specifically, we answer the following questions:
- What is FATCA and what do I need to disclose?
- What is a foreign financial asset?
- What forms do I have to file for FATCA?
- What happens if I don’t report foreign assets?
For the full post, visit http://joyoftaxlaw.com/2014/05/06/reporting-foreign-assets-answers-to-your-top-questions/. If you have questions about your specific tax situation, please don’t hesitate to contact me. We’re happy to talk to you about the details as they apply to your assets.