Drake Software blog for tax pros, covering tax, IRS news, and more
While the deadline for filing federal income taxes has been pushed back to May 15 because of the COVID-19 pandemic, those who file an annual Report of Foreign Bank and Financial Accounts (FBAR) still face their same April 15, 2021 due date.…
Most US citizens, entities, and resident aliens with a foreign bank or financial account have seen their IRS reporting deadline come and go. But for some taxpayers, one more deadline remains to file their 2019 Report of Foreign Bank and Financial Accounts, or FBAR.…
Read more about Some FBAR Filers Have One Extended Deadline Remaining
A study by the Government Accountability Office shows that whistleblowers may not be getting the reward money they’re entitled to after alerting the IRS to illegal foreign bank accounts.…
Read more about GAO Finds IRS May be Shortchanging Whistleblowers
