FBAR

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IRS reminds to report gig economy, crypto, foreign income and assets

In the IR-2022-45, the IRS reminds taxpayers of their reporting and potential tax obligations from working in the gig economy, making virtual currency transactions, earning foreign-source income or holding certain foreign assets. Gig economy earnings are taxable Generally, income earned from the gig economy is taxable and must be reported to the IRS. The gig

By |2022-03-12T18:01:10+00:00March 12th, 2022|Categories: Individuals|Tags: , , , , , , , , , |

FBAR deadline April 15 (automatic extension Oct 15)

The IRS reminds foreign bank and financial account holders the FBAR deadline remains April 15 in their Issue Number: IR-2021-83. Who Must File A United States person, including a citizen, resident, corporation, partnership, limited liability company, trust and estate, must file an FBAR to report: a financial interest in or signature or other authority over

By |2021-04-23T17:11:56+00:00April 9th, 2021|Categories: Individuals|Tags: , , , |
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