The Internal Revenue Service has temporarily suspended the requirement to file a Report of Foreign Bank and Financial Accounts for the 2009 and earlier calendar years, for people who are not U.S.

In the recent case of United States v. Hughes, a federal district court upheld willful FBAR penalties against a taxpayer for failing to report foreign accounts. The court, siding with the government ...

Schwarzbaum was born in Germany. Later, he moved to the United States and became a naturalized U.S. citizen. After he became a naturalized U.S. citizen, he held foreign accounts in Switzerland and ...

The Internal Revenue Service has extended the filing deadline yet again for people to report on foreign tax accounts, giving them until June 30 of next year, but only under certain circumstances.