Federal Tax, Tax

FBAR Extension Deadline Oct. 17, 2022

The IRS is reminding certain individuals and 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. Click here for more information and contact us with any questions. © 2022