FBAR vs 8938: Which One Should I File?
The FBAR and Form 8938 are used to report foreign financial assets to the U.S. government. Both the FBAR and Form 8938 trigger huge penalties for failure to file. While the function of the FBAR and Form 8938 is very similar, there are differences between the two form. One has a higher filing threshold than […]
International Tax Update: Undisclosed Foreign Accounts
International tax issues are coming in the door of our Atlanta CPA firm with greater frequency. In part, this is expected in an ever expanding global marketplace. Of greater concern, however, is the “perfect storm” of enhanced IRS international tax enforcement in the age of the internet. Easily available data and information sharing between countries […]