A common strategy many wealth management firms recommend is ensuring that as much as 30% of your portfolio includes foreign ...

On 1/8/25, the National Taxpayer Advocate (NTA) published its 2024 Annual Report to Congress and identified taxpayers’ ...

Expert in Outsourced Finance and Accounting Services Stay compliant with 2025 tax deadlines and avoid penalties with expe ...

Further, you would be obligated to include this on your foreign reporting requirements – FinCEN 114 and perhaps IRS Form 8938 – depending on your U.S. tax filing status and threshold amounts ...

FinCen is the U.S. Treasury’s Financial Crimes Enforcement Network. This form should be used if your total account balance exceeds $10,000 at any time in the calendar year. IRS Form 8938 ...

Additionally, before submitting your FBAR, ensure it is being sent to the FinCEN (Financial Crimes Enforcement Network ... foreign assets over a certain threshold to be reported on Form 8938. The ...

If an injunction is lifted, FinCEN will extend BOI filing deadlines for 30 days and reassess the types of companies required to file beneficial ownership information reports, the government said in ...

As previously reported, the Supreme Court has already considered on an emergency basis whether to stay Corporate Transparency Act (“CTA”) ...