Archived Posts: FBAR

Tax Tips for March 2025

Tax Tips for March 2025

by | Mar 25, 2025 |

Click on the links below to jump to each section in this article: File Your FBAR on Time to Avoid Penalties Options for Paying Your Tax Bill Stay Ahead of Business Cybercrime   File Your FBAR on Time to Avoid Penalties Any U.S. person with a financial interest in or authority over foreign financial accounts may be required to file a Report of Foreign Bank and Financial Accounts (FBAR). An FBAR is required if the aggregate value of the accounts exceeds $10,000 at any time during the...

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Reporting Foreign Income on Your Federal Tax Return

Reporting Foreign Income on Your Federal Tax Return

by | Apr 24, 2023 |

By law, U.S. citizens and resident aliens living abroad must file a U.S. income tax return and report any worldwide income. Some key tax benefits, such as the foreign earned income exclusion, are only available to those who file U.S. returns. As such, if you are living or working outside the United States and Puerto Rico, you generally must file and pay your tax the same way as people living in the U.S. This includes people with dual citizenship. Here’s what taxpayers need to know about reporting foreign income:

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