Why FBAR Reports are Important

Are you up to date with your FBAR (Reports of Foreign Bank and Financial Accounts)? If not, a cross-border financial advisor might be able to help you get things straightened out. Eli Noff is a U.S. based cross-border CPA and tax attorney who helps American citizens living abroad be U.S. tax compliant. Specifically, Eli outlines how FBAR reports are a determining factor in tax compliance. He explains who uses the information on the report, and how it is used. Eli highlights the penalties that non-compliance brings. Don’t despair if you haven’t kept up to date with your reporting requirements. Listen to the show to learn more about what you can do.

How do you prepare for filing your taxes with the U.S. government? What numbers and forms do you need? Download the checklist Tax and Investment Reminders for Americans Living in Israel for the steps you need to take in order to complete your FBAR reports and other tax filing requirements. Remember to always consult a tax professional before you file. Take advantage of filing your taxes to look at your investments and make sure that they are suited to your investment goals. Download free resource: Tax and Investment Reminders for Americans Living in Israel To learn more about Eli Noff visit his corporate website. If you’re not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug’s free ebook The Retirement Planning Book.