The Foreign Account Tax Compliance Act is fundamental as it affects how you report your finances, especially as an expat abroad. FATCA is why you may need to file a Report of Foreign Bank and ...
The TIGTAReport dated April 7, 2022 details six recommendations for additional actions needed to address Non-Filing and Non-Reporting Compliance Under FATCA. The IRS agreed with five out of the six ...
IRS holds information that is sourced from the FATCA reports submitted by Foreign Financial Institutions (FFI) (on Form 8966 - FATCA Report) and by Individual US Taxpayers that have reporting ...