FBAR & FATCA Processing


Tax on Tracks

All US Citizens and Residents need to report FBAR. If the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year.

 

Foreign Account Tax Compliance Act:Taxpayer who holds foreign financial assets with an aggregate value of more than at least ($50,000), which must be attached to the taxpayer's annual income tax return.


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