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Do you have a financial interest in or signature authority over a foreign financial account, whether a bank account, brokerage account, mutual fund or a Trust? If yes, US laws require you to report the account yearly to the Internal Revenue Service by filing Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR).
Missed FBAR filing can lead to huge civil penalty, an amount equal to the greater of $100,000 or 50 percent of the account balance for each violation each year, potentially accruing to the greater of $800,000 or 400 percent of each account balance over a six year period apart from criminal penalty, the fraud penalty and foreign information return penalties.
MyTaxFiler provides complete insight into the tax code that applies to Resident Individuals in the United States, including Green Card Holders and US Citizens. It also assists its customers with:
Contact us Toll free: (888)-482-0279 or (888)-996-9829, Toll: (972)-349-0149 or (972)-961-9814 or you can mail us on: firstname.lastname@example.org. If you want more information on FBAR, visit mytaxfiler Blog to read more - http://www.mytaxfiler.com/blog/