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What is an FBAR?
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Topic: What is an FBAR? (Read 1411 times)
Paladin69
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What is an FBAR?
November 20, 2012, 05:13:12 AM
#1
Listening to Trace Meyer here and he talks about needing to file an FBAR...
https://www.youtube.com/watch?v=kxQTcR4hoh8
My account at Mt. Gox has never had more than $10,000 in the account at one time, but I have done more than $10,000 in transactions over the many months. I'm a bit confused on what to do here or what this means in terms of taxes owed.
DeathAndTaxes
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Gerald Davis
Re: What is an FBAR?
November 20, 2012, 05:15:39 AM
#2
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Report-of-Foreign-Bank-and-Financial-Accounts-(FBAR
)
I have never heard of transaction volume mattering for FBAR filing. It only matters if the value of the account is >$10K.
Paladin69
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Re: What is an FBAR?
November 20, 2012, 05:24:39 AM
#3
Awesome. Very good to know.
TheButterZone
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RIP Mommy
Re: What is an FBAR?
November 20, 2012, 08:49:03 AM
#4
If you need to file an FBAR, prepare to get FUBAR?
Quote from: SaltySpitoon on February 21, 2018, 12:07:45 AM
Saying that you don't trust someone because of their behavior is completely valid.
DeathAndTaxes
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Gerald Davis
Re: What is an FBAR?
November 20, 2012, 02:02:10 PM
#5
Quote from: TheButterZone on November 20, 2012, 08:49:03 AM
If you need to file an FBAR,
and didn't pay taxes on profits you should have paid taxes on anyways,
prepare to get FUBARed!
FYPFY
Not really different than getting caught in any other type of tax evasion.
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