The IRS is reminding U.S. citizens, resident aliens and domestic legal entities that the extension deadline to file an annual Report of Foreign Bank and Financial Account (FBAR) is Oct. 17, 2022. Filers missing the April 15 annual FBAR due date earlier this year received an automatic extension until Oct. 17 to file their FBARs. They didn’t need to request an extension. The IRS notes that taxpayers must file FBARs if they have financial interest in one or more accounts, such as a bank or brokerage account, located outside the United States, and the aggregate value of all foreign financial accounts exceeds $10,000 during the calendar year. For more information: https://bit.ly/3rEBDeG Call or visit our website for more information! www.mjscpa.com/
