UPDATE: The basic principles of this article can be applied to any tax year. Make sure you check for any changing tax laws and consult a tax professional. It’s time to address planning opportunities aimed towards reducing your 2015/2016 income tax liability. We recommend that all of our clients invest a few hours before year-end to […]

History For obvious reasons the United States Treasury is interested in identifying individuals who have interests in foreign financial assets. In 1970 Congress enacted the Bank Secrecy Act which included requirements for filing an annual Foreign Bank and Financial Account (FBAR) report (originally known as Form TD F 90-22.1).  The Treasury Department created the Financial […]