Tax Law

Recent Posts

McDermott Will & Emery: FBAR Filing Deadline for Extensions for Certain Individuals With Signature Authority
Posted on 7 Jul 2011 by McDermott Will & Emery

By Patrick D. Ryan , Karen A. Simonsen & Todd A. Solomon The Financial Crimes Enforcement Network and the Internal Revenue Service recently issued three notices, FinCEN Notices 2011-1 and 2011-2 and IRS Notice 2011-54, granting an extension of... Read More

Pepper Hamilton LLP: Significant Changes to FBAR Filing for Employees of Public Companies Applicable to 2010 Filings
Posted on 18 May 2011 by Pepper Hamilton LLP

By Joan C. Arnold By June 30, 2011, every U.S. person who owns or has signatory authority over a foreign financial account must report those accounts to the IRS on form TD 90.22-1, (the FBAR form) if the value of the accounts totaled more than $10... Read More

IRS Issues FBAR Filing Relief, but Certain Filing Obligations Remain
Posted on 16 Jun 2010 by James G. Isaac, Karen A. Simonsen, Todd A.Solomon

Plan Filers invested in a foreign account, such as a foreign mutual find, should be preparing to file FBAR for 2009 by June 30, 2010 The Internal Revenue Service (IRS) has recently issued several pieces of guidance related to the filing of the Report... Read More

Sutherland Legal Alert: Last Minute FBAR Extensions for “Signature Authority Only” Filers – Making Sense of the Announcements
Posted on 27 Jun 2011 by Sutherland Asbill & Brennan LLP

By Carol P. Tello and Robert S. Chase In the past week, two extensions for filing a Report of Foreign Bank and Financial Account (FBAR) were announced by the IRS and FinCEN for certain persons that are required to file FBARs solely as a result of their... Read More

Sutherland Legal Alert: Resetting the FBAR: Foreign Financial Account Reporting Regulations are Finalized With Significant, But Not Always Helpful, Clarifications
Posted on 7 Mar 2011 by Eversheds Sutherland LLP

By Carol P. Tello The Department of Treasury's Financial Crimes Enforcement Network (FinCEN) division recently issued final rules regarding the reporting of foreign bank and financial accounts (commonly known as FBAR filings). The final FBAR regulations... Read More

Sutherland Legal Alert: FinCEN Extends Due Date for Certain FBAR Filers
Posted on 1 Mar 2012 by Sutherland Asbill & Brennan LLP

By Robb Chase and Amanda Pugh On February 14, 2012, the Department of Treasury's Financial Crimes Enforcement Network (FinCEN) issued Notice 2012-1, which extended the filing deadline for both the 2010 and 2011 Report of Foreign Bank and Financial... Read More

McDermott Will & Emery: Final FBAR Regulations Clarify Filing Obligations
Posted on 31 May 2011 by McDermott Will & Emery

By Henry Christensen III , Christiana Lazo , M. Read Moore & J. Andrew P. Stone The final FBAR regulations, effective on March 28, 2011, help to clarify the filing obligations of limited liability companies, trust beneficiaries and those holding... Read More

McDermott Will & Emery: Final FBAR Regulations Offer Some Relief For Plan Sponsors, but Filing Obligations Remain
Posted on 13 Apr 2011 by McDermott Will & Emery

By James G. Isaac , Karen A. Simonsen & Todd A. Solomon The Treasury Department has issued final regulations concerning the FBAR filings. Some relief is provided for employee benefit plans and plan sponsors, but a blanket exemption is not provided... Read More

Pepper Hamilton LLP: Preparing to File Report of Foreign Financial Accounts by June 30, 2011
Posted on 25 Apr 2011 by Pepper Hamilton LLP

By Joan C. Arnold , Laura D. Warren , and Paul D. Pellegrini By June 30, 2011, every U.S. person who owns or controls a foreign financial account must report those accounts to the IRS on form TD 90.22-1, (the FBAR form) if the value... Read More

Pepper Hamilton LLP: Certain FBAR Filings Deferred until June 30, 2012
Posted on 6 Jun 2011 by Pepper Hamilton LLP

By Joan C. Arnold In our May 17, 2011 Tax Update , "Significant Changes to FBAR Filing for Employees of Public Companies Applicable to 2010 Filings," we discussed the revised rules for the filing of TD Form 90-22.1, on which a U... Read More