Things Every American Should Know About US Expat Taxes

James Scott23 Feb, 2019Finance

Foreign Bank Account Report (FBAR) is part of the US initiative to stop citizens of the US from hiding money in overseas bank accounts. Taxpayers American Living Abroad who has $10,000 or more in their offshore bank accounts at any point during the tax year has to file Form FinCEN 114 by electronic means to the US Department of the Treasury.