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Kansas City FBAR Attorney | International Tax Lawyers Missouri

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If you reside in Kansas City, Missouri and have unreported foreign bank and financial accounts, you may be looking for a Kansas City FBAR Attorney.  In this case, you should contact Sherayzen Law Office, Ltd., a leader in FBAR compliance, including offshore voluntary disclosures concerning delinquent. Let’s consider the main reasons for it.

Kansas City FBAR Attorney: International Tax Lawyer

From the outset, it is very important to understand that, by looking for Kansas City FBAR attorney, in reality, you are searching for an international tax lawyer who specializes in FBAR compliance.

The reason for this conclusion is the fact that FBAR enforcement belongs to a very special field of US tax law – US international tax law. FBAR is an information return concerning foreign assets, which necessarily involves US international tax compliance concerning foreign assets/foreign income. Moreover, ever since the FBAR enforcement was turned over to the IRS in 2001, the term FBAR attorney applies almost exclusively to tax attorneys.

Hence, when you look for an FBAR attorney, you are looking for an international tax attorney with a specialty in FBAR compliance.

Kansas City FBAR Attorney: Deep Knowledge of US International Tax Law and Offshore Voluntary Disclosures

When retaining Kansas City FBAR attorney, consider the fact that such an attorney’s work is not limited only to the preparation and filing of FBARs. Rather, the attorney should be able to deliver a variety of tax services and freely operate with experience and knowledge in all relevant areas of US international tax law, including the various offshore voluntary disclosure options concerning delinquent FBARs.

Moreover, as part of an offshore voluntary disclosure, an FBAR Attorney often needs to amend US tax returns, properly prepare foreign financial statements according to US GAAP, correctly calculate PFICs, and complete an innumerable number of other tasks.

Mr. Sherayzen and his team of motivated experienced tax professionals of Sherayzen Law Office have helped hundreds of US taxpayers worldwide to bring their tax affairs into full compliance with US tax laws. This work included the preparation and filing of offshore voluntary disclosures concerning delinquent FBARs. Sherayzen Law Office offers help with all kinds of offshore voluntary disclosure options, including: SDOP (Streamlined Domestic Offshore Procedures), SFOP (Streamlined Foreign Offshore Procedures), DFSP (Delinquent FBAR Submission Procedures), DIIRSP (Delinquent International Information Return Submission Procedures), IRS VDP (IRS Voluntary Disclosure Practice) and Reasonable Cause disclosures.

Kansas City FBAR Attorney: Out-Of-State International Tax Lawyer

Whenever you are looking for an attorney who specializes in US international tax law (which is a federal area of law, not a state one), you do not need to limit yourself to lawyers who reside in Kansas City, Missouri. On the contrary, consider international tax attorneys who reside in other states and help Kansas City residents with their FBAR compliance.

Contact Sherayzen Law Office for Professional FBAR Help

Sherayzen Law Office is an international tax law firm that specializes in US international tax compliance, including FBARs. While our office is in Minneapolis, Minnesota, we help taxpayers who reside throughout the United States, including Kansas City, Missouri.

Thus, if you are looking for a Kansas City FBAR Attorney, contact Mr. Sherayzen as soon as possible to schedule Your Confidential Consultation!

2024 FBAR Conversion Rates | FBAR International Tax Lawyer

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The 2024 FBAR conversion rates are very important for your US international tax compliance. The reason for their importance is their relation to FBAR (FinCEN Form 114) and the IRS Form 8938. The 2024 FBAR and 2024 Form 8938 instructions both require that 2024 FBAR conversion rates be used to report the required highest balances of foreign financial assets on these forms (in the case of Form 8938, the 2024 FBAR conversion rates is the default choice, not an exclusive one). In other words, the 2024 FBAR conversion rates are used to translate foreign-currency highest balances into US dollars for the purposes of FBAR and Form 8938 compliance.

The U.S. Department of Treasury  already published the 2024 FBAR conversion rates online (they are called “Treasury’s Financial Management Service rates” or the “FMS rates”).

Since the 2024 FBAR conversion rates are highly important to US taxpayers, international tax lawyers and international tax accountants, Sherayzen Law Office provides the table below listing the official 2024 FBAR conversion rates (note that the readers still need to refer to the official website for any updates).

Country – Currency Foreign Currency to $1.00
AFGHANISTAN – AFGHANI70.3500
ALBANIA – LEK93.8500
ALGERIA – DINAR135.1030
ANGOLA – KWANZA912.0000
ANTIGUA – BARBUDA – E. CARIBBEAN DOLLAR2.7000
ARGENTINA – PESO1052.5000
ARMENIA – DRAM390.0000
AUSTRALIA – DOLLAR1.6120
AUSTRIA – EURO0.9610
AZERBAIJAN – MANAT1.7000
BAHAMAS – DOLLAR1.0000
BAHRAIN – DINAR0.3770
BANGLADESH – TAKA119.0000
BARBADOS – DOLLAR2.0200
BELARUS – NEW RUBLEUNAVAILABLE*
BELGIUM – EURO0.9610
BELIZE – DOLLAR2.0000
BENIN – CFA FRANC626.0000
BERMUDA – DOLLAR1.0000
BOLIVIA – BOLIVIANO6.8600
BOSNIA – MARKA1.8800
BOTSWANA – PULA13.9670
BRAZIL – REAL6.1840
BRUNEI – DOLLAR1.3630
BULGARIA – LEV NEW1.8800
BURKINA FASO – CFA FRANC626.0000
BURUNDI – FRANC2900.0000
CAMBODIA – RIEL4015.0000
CAMEROON – CFA FRANC630.5500
CANADA – DOLLAR1.4380
CAPE VERDE – ESCUDO105.9900
CAYMAN ISLANDS – DOLLAR0.8200
CENTRAL AFRICAN REPUBLIC – CFA FRANC630.5500
CHAD – CFA FRANC630.5500
CHILE – PESO992.6000
CHINA – RENMINBI7.2990
COLOMBIA – PESO4402.4900
COMOROS – FRANC473.2900
CONGO – CFA FRANC630.5500
COSTA RICA – COLON506.0000
COTE D’IVOIRE – CFA FRANC626.0000
CROATIA – EURO0.9610
CUBA – Chavito1.0000
CUBA – PESO24.0000
CYPRUS – EURO0.9610
CZECH REPUBLIC – KORUNA23.5380
DEM. REP. OF CONGO – CONGOLESE FRANC2843.0000
DENMARK – KRONE7.1700
DJIBOUTI – FRANC177.0000
DOMINICAN REPUBLIC – PESO60.7100
ECUADOR – DOLARES1.0000
EGYPT – POUND50.7900
EL SALVADOR – DOLLAR1.0000
EQUATORIAL GUINEA – CFA FRANC630.5500
ERITREA – NAKFA15.0000
ESTONIA – EURO0.9610
ESWATINI – LILANGENI18.8500
ETHIOPIA – BIRR125.3830
EURO ZONE – EURO0.9610
FIJI – DOLLAR2.2890
FINLAND – EURO0.9610
FRANCE – EURO0.9610
GABON – CFA FRANC630.5500
GAMBIA – DALASI70.0000
GEORGIA – LARI2.7800
GERMANY – EURO0.9610
GHANA – CEDI14.6500
GREECE – EURO0.9610
GRENADA – EAST CARIBBEAN DOLLAR2.7000
GUATEMALA – QUETZAL7.7000
GUINEA BISSAU – CFA FRANC626.0000
GUINEA – FRANC8602.0000
GUYANA – DOLLAR215.0000
HAITI – GOURDE130.1930
HONDURAS – LEMPIRA25.3150
HONG KONG – DOLLAR7.7660
HUNGARY – FORINT395.3200
ICELAND – KRONA138.1900
INDIA – RUPEE85.5770
INDONESIA – RUPIAH16067.1300
IRAN – RIAL42000.0000
IRAQ – DINAR1309.0000
IRELAND – EURO0.9610
ISRAEL – SHEKEL3.6470
ITALY – EURO0.9610
JAMAICA – DOLLAR159.0000
JAPAN – YEN156.8500
JORDAN – DINAR0.7080
KAZAKHSTAN – TENGE524.6000
KENYA – SHILLING128.8500
KOREA – WON1473.2700
KOSOVO – EURO0.9610
KUWAIT – DINAR0.3080
KYRGYZSTAN – SOM86.9990
LAOS – KIP21744.0000
LATVIA – EURO0.9610
LEBANON – POUND89500.0000
LESOTHO – MALOTI18.8500
LIBERIA – DOLLAR183.0000
LIBYA – DINAR4.9040
LITHUANIA – EURO0.9610
LUXEMBOURG – EURO0.9610
MADAGASCAR – ARIARY4620.0000
MALAWI – KWACHA1751.0000
MALAYSIA – RINGGIT4.4680
MALDIVES – RUFIYAA15.4200
MALI – CFA FRANC626.0000
MALTA – EURO0.9610
MARSHALL ISLANDS – DOLLAR1.0000
MAURITANIA – OUGUIYA39.7140
MAURITIUS – RUPEE46.9300
MEXICO – PESO20.7040
MICRONESIA – DOLLAR1.0000
MOLDOVA – LEU18.3000
MONGOLIA – TUGRIK3420.0000
MONTENEGRO – EURO0.9610
MOROCCO – DIRHAM10.1030
MOZAMBIQUE – METICAL 63.2700
MYANMAR – KYAT3596.0000
NAMIBIA – DOLLAR18.8500
NEPAL – RUPEE136.9800
NETHERLANDS – EURO0.9610
NETHERLANDS ANTILLES – GUILDER1.7800
NEW ZEALAND – DOLLAR1.7810
NICARAGUA – CORDOBA36.6000
NIGER – CFA FRANC626.0000
NIGERIA – NAIRA1540.0000
NORWAY – KRONE11.3220
OMAN – RIAL0.3850
PAKISTAN – RUPEE278.4000
PALAU – DOLLAR1.0000
PANAMA – DOLARES1.0000
PAPUA NEW GUINEA – KINA3.9920
PARAGUAY – GUARANI7793.7200
PERU – SOL3.7570
PHILIPPINES – PESO58.0250
POLAND – ZLOTY4.1080
PORTUGAL – EURO0.9610
QATAR – RIYAL3.6450
REP. OF N MACEDONIA – DENAR58.8600
ROMANIA – NEW LEU4.7790
RUSSIA – RUBLE108.0000
RWANDA – FRANC1340.0000
SAO TOME & PRINCIPE – NEW DOBRAS23.4790
SAUDI ARABIA – RIYAL3.7500
SENEGAL – CFA FRANC626.0000
SERBIA – DINAR112.3200
SEYCHELLES – RUPEE14.3550
SIERRA LEONE – LEONE22.5900
SIERRA LEONE – OLD LEONE21.4000
SINGAPORE – DOLLAR1.3630
SLOVAK REPUBLIC – EURO0.9610
SLOVENIA – EURO0.9610
SOLOMON ISLANDS – DOLLAR8.0650
SOMALI – SHILLING568.0000
SOUTH AFRICA – RAND18.8500
SOUTH SUDAN – SUDANESE POUND3900.0000
SPAIN – EURO0.9610
SRI LANKA – RUPEE293.0000
ST LUCIA – E CARIBBEAN DOLLAR2.7000
SUDAN – SUDANESE POUND1987.0000
SURINAME – GUILDER35.1920
SWEDEN – KRONA11.0060
SWITZERLAND – FRANC0.9050
SYRIA – POUND12625.0000
TAIWAN – DOLLAR32.7090
TAJIKISTAN – SOMONI10.8500
TANZANIA – SHILLING2400.0000
THAILAND – BAHT34.3300
TIMOR – LESTE DILI1.0000
TOGO – CFA FRANC626.0000
TONGA – PA’ANGA2.3560
TRINIDAD & TOBAGO – DOLLAR6.7660
TUNISIA – DINAR3.1800
TURKEY – NEW LIRA35.3650
TURKMENISTAN – NEW MANAT3.4910
UGANDA – SHILLING3674.0000
UKRAINE – HRYVNIA42.0420
UNITED ARAB EMIRATES – DIRHAM3.6730
UNITED KINGDOM – POUND STERLING0.7970
URUGUAY – PESO43.6600
UZBEKISTAN – SOM12899.9000
VANUATU – VATU116.0000
VENEZUELA – BOLIVAR SOBERANO51.8970
VENEZUELA – FUERTE (OLD)248832.0000
VIETNAM – DONG25480.0000
WESTERN SAMOA – TALA2.7400
YEMEN – RIAL528.0000
ZAMBIA – NEW KWACHA27.7750
ZIMBABWE – GOLD25.0250

*Note #1: As of the time of this article, the Department of Treasury still has not published the FBAR rate for Belarus. Please, consult the Department of the Treasury for clarification.

Jacksonville FBAR Attorney | International Tax Lawyer Florida

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If you reside in Jacksonville, Florida and have unreported foreign bank and financial accounts, you may be looking for a Jacksonville FBAR Attorney.  In this case, you should contact Sherayzen Law Office, Ltd., a leader in FBAR compliance, including offshore voluntary disclosures concerning delinquent. Let’s consider the main reasons for it.

Jacksonville FBAR Attorney: International Tax Lawyer

From the outset, it is very important to understand that, by looking for Jacksonville FBAR attorney, in reality, you are searching for an international tax lawyer who specializes in FBAR compliance.

The reason for this conclusion is the fact that FBAR enforcement belongs to a very special field of US tax law – US international tax law. FBAR is an information return concerning foreign assets, which necessarily involves US international tax compliance concerning foreign assets/foreign income. Moreover, ever since the FBAR enforcement was turned over to the IRS in 2001, the term FBAR attorney applies almost exclusively to tax attorneys.

Hence, when you look for an FBAR attorney, you are looking for an international tax attorney with a specialty in FBAR compliance.

Jacksonville FBAR Attorney: Deep Knowledge of US International Tax Law and Offshore Voluntary Disclosures

When retaining Jacksonville FBAR attorney, consider the fact that such an attorney’s work is not limited only to the preparation and filing of FBARs. Rather, the attorney should be able to deliver a variety of tax services and freely operate with experience and knowledge in all relevant areas of US international tax law, including the various offshore voluntary disclosure options concerning delinquent FBARs.

Moreover, as part of an offshore voluntary disclosure, an FBAR Attorney often needs to amend US tax returns, properly prepare foreign financial statements according to US GAAP, correctly calculate PFICs, and complete an innumerable number of other tasks.

Mr. Sherayzen and his team of motivated experienced tax professionals of Sherayzen Law Office have helped hundreds of US taxpayers worldwide to bring their tax affairs into full compliance with US tax laws. This work included the preparation and filing of offshore voluntary disclosures concerning delinquent FBARs. Sherayzen Law Office offers help with all kinds of offshore voluntary disclosure options, including: SDOP (Streamlined Domestic Offshore Procedures), SFOP (Streamlined Foreign Offshore Procedures), DFSP (Delinquent FBAR Submission Procedures), DIIRSP (Delinquent International Information Return Submission Procedures), IRS VDP (IRS Voluntary Disclosure Practice) and Reasonable Cause disclosures.

Jacksonville FBAR Attorney: Out-Of-State International Tax Lawyer

Whenever you are looking for an attorney who specializes in US international tax law (which is a federal area of law, not a state one), you do not need to limit yourself to lawyers who reside in Jacksonville, Florida. On the contrary, consider international tax attorneys who reside in other states and help Jacksonville residents with their FBAR compliance.

Contact Sherayzen Law Office for Professional FBAR Help

Sherayzen Law Office is an international tax law firm that specializes in US international tax compliance, including FBARs. While our office is in Minneapolis, Minnesota, we help taxpayers who reside throughout the United States, including Jacksonville, Florida.

Thus, if you are looking for a Jacksonville FBAR Attorney, contact Mr. Sherayzen as soon as possible to schedule Your Confidential Consultation!

Huntsville FBAR Attorney | International Tax Lawyer Alabama

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If you reside in Huntsville, Alabama and have unreported foreign bank and financial accounts, you may be looking for a Huntsville FBAR Attorney.  In this case, you should contact Sherayzen Law Office, Ltd., a leader in FBAR compliance, including offshore voluntary disclosures concerning delinquent. Let’s consider the main reasons for it.

Huntsville FBAR Attorney: International Tax Lawyer

From the outset, it is very important to understand that, by looking for Huntsville FBAR attorney, in reality, you are searching for an international tax lawyer who specializes in FBAR compliance.

The reason for this conclusion is the fact that FBAR enforcement belongs to a very special field of US tax law – US international tax law. FBAR is an information return concerning foreign assets, which necessarily involves US international tax compliance concerning foreign assets/foreign income. Moreover, ever since the FBAR enforcement was turned over to the IRS in 2001, the term FBAR attorney applies almost exclusively to tax attorneys.

Hence, when you look for an FBAR attorney, you are looking for an international tax attorney with a specialty in FBAR compliance.

Huntsville FBAR Attorney: Deep Knowledge of US International Tax Law and Offshore Voluntary Disclosures

When retaining Huntsville FBAR attorney, consider the fact that such an attorney’s work is not limited only to the preparation and filing of FBARs. Rather, the attorney should be able to deliver a variety of tax services and freely operate with experience and knowledge in all relevant areas of US international tax law, including the various offshore voluntary disclosure options concerning delinquent FBARs.

Moreover, as part of an offshore voluntary disclosure, an FBAR Attorney often needs to amend US tax returns, properly prepare foreign financial statements according to US GAAP, correctly calculate PFICs, and complete an innumerable number of other tasks.

Mr. Sherayzen and his team of motivated experienced tax professionals of Sherayzen Law Office have helped hundreds of US taxpayers worldwide to bring their tax affairs into full compliance with US tax laws. This work included the preparation and filing of offshore voluntary disclosures concerning delinquent FBARs. Sherayzen Law Office offers help with all kinds of offshore voluntary disclosure options, including: SDOP (Streamlined Domestic Offshore Procedures), SFOP (Streamlined Foreign Offshore Procedures), DFSP (Delinquent FBAR Submission Procedures), DIIRSP (Delinquent International Information Return Submission Procedures), IRS VDP (IRS Voluntary Disclosure Practice) and Reasonable Cause disclosures.

Huntsville FBAR Attorney: Out-Of-State International Tax Lawyer

Whenever you are looking for an attorney who specializes in US international tax law (which is a federal area of law, not a state one), you do not need to limit yourself to lawyers who reside in Huntsville, Alabama. On the contrary, consider international tax attorneys who reside in other states and help Huntsville residents with their FBAR compliance.

Contact Sherayzen Law Office for Professional FBAR Help

Sherayzen Law Office is an international tax law firm that specializes in US international tax compliance, including FBARs. While our office is in Minneapolis, Minnesota, we help taxpayers who reside throughout the United States, including Huntsville, Alabama.

Thus, if you are looking for a Huntsville FBAR Attorney, contact Mr. Sherayzen as soon as possible to schedule Your Confidential Consultation!

2024 FBAR Deadline in 2025 | FinCEN Form 114 International Tax Lawyer & Attorney

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The 2024 FBAR deadline is a critical deadline for US taxpayers this calendar year 2025. What makes FBAR so important are the draconian FBAR penalties which may be imposed on noncompliant taxpayers. Let’s discuss the 2024 FBAR deadline in more detail.

2024 FBAR Deadline: Background Information

The official name of FBAR is FinCEN Form 114, the Report of Foreign Bank and Financial Accounts. US Persons must file FBAR if they have a financial interest in or signatory or any other authority over foreign financial accounts if the highest aggregate value of these accounts is in excess of $10,000. FBARs must be timely e-filed separately from federal tax returns.

Failure to file an FBAR may result in the imposition of heavy FBAR penalties. The FBAR penalties vary from criminal penalties and willful penalties to non-willful penalties. You can find more details about FBAR penalties in this article.

2024 FBAR Deadline: Pre-2016 FBAR Deadline

For the years preceding 2016, US persons needed to file FBARs by June 30 of each year. For example, the 2013 FBAR was due on June 30, 2014. No filing extensions were allowed. The last FBAR that followed the June 30 deadline was the 2015 FBAR; its due date was June 30, 2016. .

2024 FBAR Deadline: Changes to FBAR Deadline Starting with the 2016 FBAR

For many years, the strange FBAR filing rules greatly confused US taxpayers. First of all, it was difficult to learn about the existence of the form. Second, many taxpayers simply missed the unusual FBAR filing deadline.

Therefore, the US Congress took action in 2015 to alleviate this problem. As it usually happens, it did so when it passed a law that, on its surface, had nothing to do with FBARs. The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (the “Act”) changed the FBAR deadline. Starting with 2016 FBAR, Section 2006(b)(11) of the Act requires the FBARs to be filed by the due date of that year’s tax return (i.e. usually April 15), not June 30.

Furthermore, the IRS granted to US taxpayers an automatic extension of the FBAR filing deadline to October 15. For now, taxpayers do not need to make any specific requests in order for an extension to be granted.

Thus, starting with the 2016 FBAR, the Act adjusted the FBAR due date to coincide with the federal income tax filing deadlines. This is the case even if federal law requires a different filing date. For example, in situations where the tax return due date falls on a Saturday, Sunday, or legal holiday, the IRS must delay the due date until the next business day; the FBAR deadline will follow suit and also shift to the next business day.

2024 FBAR Deadline

Based on the current law, for the vast majority of filers, the 2024 FBAR deadline will be April 15, 2025. However, the deadline is automatically extended to October 15, 2025.

The 2024 FBAR must be e-filed through the US Financial Crimes Enforcement Network’s (FinCEN) BSA E-filing system.

Contact Sherayzen Law Office for Professional Help With Your FBAR Compliance

If you have unreported foreign accounts, contact Sherayzen Law Office as soon as possible. Sherayzen Law Office is a leader in US international tax compliance and offshore voluntary disclosures. We have successfully helped hundreds of US taxpayers around the globe with their FBAR compliance and FBAR voluntary disclosures; and we can help you!

Contact Us Today to Schedule Your Confidential Consultation!