Reminder Oct 15 Is When FBAR Extension Should Be Filed!

Today, the IRS reminded all U.S. citizens, resident aliens, and any domestic legal entity to complete the annual FBAR (Report of Foreign Bank and Financial Accounts) filing by October 15, 2021. So if you have financial interest or authority over one or more bank accounts, brokerage, mutual funds, or other financial accounts OUTSIDE the US and the combined total exceeds $10,000 at any given time of the year, you would have to file FBAR. Any filers that missed the April 15 deadline have received an automatic extension to file FBAR by Oct. 15. If you have questions about FBAR or need help? Please do not hesitate to call us at (832) 295-3353. You can also set up an appointment with us at https://xqcpa-bookme.acuityscheduling.com/schedule.php. Last but not least, please like and share our daily posts. #taxes #FBAR #taxplanning

Learn More:

https://www.irs.gov/newsroom/oct-15-fbar-extension-deadline-nears-for-foreign-bank-and-financial-account-holders