Eschrat Rahimi-Laridjani undertakes a thorough review of the requirements to report foreign bank and financial accounts in the current issue of the Journal of Taxation of Financial Products. Penalties for failure to comply with the FBAR requirements are steep and advisors must understand the rules and filing requirements.
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This story is from the CCH’s monthly Focus on Tax newsletter, which provides advise and guidance on federal and state tax issues for tax and accounting professionals.
Read this article from CCH’s Journal of Taxation of Financial Products