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Foreign Bank and Financial Accounts: Understanding the FBAR

Foreign Bank and Financial Accounts: Understanding the FBAR

by Matthew Senter | Nov 18, 2019 | Internal Revenue Service, Tax

Did you know that a taxpayer must report certain foreign financial accounts, such as bank accounts, brokerage accounts and mutual funds each year, as part of the Bank Secrecy Act? By filing a Report of Foreign Bank and Financial Accounts, otherwise known as FBAR (on...

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