Tuesday, August 16, 2016

Those who don’t know old acronyms, should

Just a little too close.

“Those who choose to keep money in foreign banks may need to file a Report of Foreign Bank and Financial Accounts Report (FBAR). The FBAR is a tool used by the federal government to identify persons who may be using foreign financial accounts and services to circumvent income tax reporting.”


Or, maybe it’s the government’s way of saying tax cheats will be FuBARed if caught not complying.

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