Rapid Travel Chai - Travel Tax Week: if FBAR is not enough, here comes FATCA

Discussion in 'Blogstand' started by BoardingArea, Apr 16, 2012.  |  Print Topic

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    Report of Foreign Bank and Financial Accounts (FBAR) has long been a hassle for US persons with foreign bank accounts in excess of US$10,000. New for tax year 2011 is Statement of Specified Foreign Financial Assets (FATCA). Where FBAR is primarily anti-crime, FATCA is all about tax revenue....
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