Did you have an interest in (or authority over) a foreign financial account during 2016? If so, you’ll need to electronically file a form called the “Report of Foreign Bank and Financial Accounts” (FBAR). That form which is due on April 18, 2017 may be reviewed by IRS examiners as part of its efforts to unearth offshore tax evasion. Here’s an overview of how to comply with the IRS regulations on reporting foreign accounts.
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