Archive by Year:2021 - Page 6

What is the FBAR Filing Requirement for Virtual Currency?

Offshore Account Update

Posted in on January 15, 2021

As our Washington D.C. tax defense attorneys recently discussed, if you own offshore bank accounts that are worth more than $10,000 at any point during the tax year, you are required to disclose these accounts to the federal government. In order to do so, you must file FinCEN Form 114, Report Foreign Bank and Financial Accounts (FBAR), with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN).Read More

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