Cryptocurrency May Be Subject to FBAR Reports Soon – Forbes
Cryptocurrency May Be Subject to FBAR Reports Soon – Forbes
The recently released FinCEN Notice 2020-2 states that the agency intends to subject cryptocurrencies held abroad to the Foreign Bank and Financial Accounts (FBAR) reporting regime. Currently, taxpayers whose foreign financial interests (bank account, securities account or brokerage account) exceed $ 10,000 in any given year must comply with the FBAR by completing Form 114. […]
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