Los Angeles, June 11, 2013- All U.S. individuals and entities who have a financial interest in or signatory authority over foreign financial accounts with total balances over $10,000 need to file an FBAR (Foreign Bank and Financial Accounts Report) form with the IRS by June 30th. Unlike other IRS forms, which must be postmarked by the due date, FBAR Form TD F 90-22.1 must be received by the IRS, on or before the due date."It is estimated that there are millions of people with foreign bank accounts who are unaware of their filing obligations, " comments Brager Tax Law Group founder Dennis Brager, a tax attorney, who is a California Tax Specialist and former Senior Tax Attorney with the IRS.
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