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This post describes the Official 2008 FBAR Conversion Rates that should be used by U.S. taxpayers engaged in a voluntary disclosure of foreign financial accounts and filing late FBARs for 2008. Every year, the U.S. Department of Treasure publishes its official currency conversion rates (they are called “Treasury’s Financial Management Service rates”); I will refer […]
These Official Treasury 2009 FBAR Conversion Rates are posted here due to the fact that U.S. taxpayers who are doing voluntary disclosure for prior years with respect to delinquent FBARs are required to use these rates to prepare the FBARs for 2009. Every year, the U.S. Department of Treasure publishes its official currency conversion rates […]
Every year, the U.S. Department of Treasure publishes its official currency conversion rates (they are called “Treasury’s Financial Management Service rates”); I will refer to the “FBAR Conversion Rates”. Recently, the Treasury Department published the FBAR Conversion rates for December 31, 2013. While there are other good reasons for the existence of these rates, the […]
US taxpayers who itemize their deductions on Schedule A of Form 1040 should be aware that new IRS rules are in effect for 2013 tax returns to be filed in 2014. Under the new rules, the threshold for unreimbursed medical and dental expenses paid by taxpayers for themselves, spouses or dependents have increased for most […]
On December 19, 2013, the U.S. Department of the Treasury announced that the United States has signed bilateral agreements with six additional jurisdictions to implement the information reporting and withholding tax provisions commonly known as the Foreign Account Tax Compliance Act (FATCA). The six jurisdictions are: Malta, the Netherlands, The Islands of Bermuda, and three […]