Forbes has published an article, “IRS Warning: FBAR Deadline For Offshore Accounts Is Still April 15,” which clarifies to readers that the April 15 deadline for those with Foreign Bank and Financial Accounts (FBAR) has not changed despite the May 17 tax filing deadline. The article begins as follows:
This year’s tax filing deadline hasn’t exactly been smooth. It seemed that the April 15 deadline would stick, but then the IRS extended it to May 17. But that didn’t cover everything, notable the April 15 estimated tax payment deadline! What’s more, don’t forget about FBARs either, as that deadline was not extended. The IRS is reminding U.S. citizens, resident aliens and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is still April 15, 2021. The extension of the federal income tax filing due date and other tax deadlines for individuals to May 17, 2021, does not affect the FBAR requirement.
To view the full article, click here: “IRS Warning: FBAR Deadline For Offshore Accounts Is Still April 15”
Posted by Elise Kim, Managing Associate Editor, Wealth Strategies Journal.