U.S. citizens, entities, and resident aliens with a foreign bank or financial account are reminded of the extended October 31 deadline to file FBARs, the IRS announced. The deadline, normally October 15, was extended in coordination with the Financial Crimes Enforcement Network (FinCEN), the IRS noted. FBAR filers impacted by the California Wildfires, the Iowa Derecho, Hurricane Laura, the Oregon Wildfires and Hurricane Sally have until December 31, 2020, to file their FBARs. The extensions apply only filers for 2019 calendar year FBARs, the IRS stated. [IR-2020-247 (Oct. 28, 2020)]
Reference:
View Source Document.
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.