What exactly is a "Foreign Bank Account"?

What exactly is a "Foreign Bank Account"?

http://ift.tt/1RfwK1f If you need assistance with a domestic or international tax problem, contact us at info@irsmedic.com or call 888-727-8796. Thanks to the Bank Secrecy Act of 1970, there are strict reporting requirements of offshore bank accounts on an FBAR form. Not to mention hefty penalties for non-filing. But...there is no official list, anywhere, of what exactly a foreign bank account is. In this video, Attorney Parent and Claudine discuss things like online gambling accounts and Bitcoin - should they be reported? IRSMedic.com is the website for Parent & Parent LLP, a tax law firm of IRS resolution attorneys, Certified Public Accountants, and Enrolled Agents who want to be the team that permanently resolves your tax problem where others have failed. We have developed a proven system of solving any tax problem in the least amount of time, for the smallest amount of headache. We serve US taxpayers worldwide for IRS, US Tax Court and state revenue agency issues. Learn more about our services and fees here: http://ift.tt/1TUcrWR Fill out our online submission form here: http://ift.tt/2c0WYbY http://youtu.be/5ZRoOOhmkCQ IRS Medic