Income Tax in the U.S. - Part 4: Foreign Accounts

If you’re holding foreign bank accounts or other financial assets, U.S. reporting rules may apply - even if those accounts aren’t earning much. This video explains the FBAR filing threshold, how to calculate foreign balances in U.S. dollars, and when IRS Form 8938 comes into play. It’s essential information for staying compliant and avoiding steep penalties.

*Disclaimer*
The information provided in this video is not, and is not intended to, constitute legal or tax advice; instead, all information, content, and materials contained in this video have been prepared for general informational purposes only. Information contained in this video may not constitute the most up-to-date legal, tax or other information and no representations are made that the content is error-free.

You should contact your CPA or attorney to obtain advice with respect to any particular tax and legal matter. You should not act or refrain from acting on the basis of information contained in this video without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual CPA or attorney can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation.

Any liability with respect to actions taken or not taken based on the contents of this video is hereby expressly disclaimed.

Видео Income Tax in the U.S. - Part 4: Foreign Accounts канала Orbiss