June 27, 2011
London, England

Are you a US taxpayer? Do you have at least $10,000 in overseas accounts? It's time to put those annual disclosure statements in the mail... and quickly. Let me explain.

Each year by June 30th, US taxpayers are obliged to report all foreign financial accounts in which they have either a beneficial interest or signature authority, so long as the aggregate value of all the accounts exceeds $10,000 at any time during the calendar year. The form is known as the FBAR.

You must accurately disclose the highest value of each account during the previous calendar year on your FBAR... so make[...] Click here to continue reading