If you need to file an FBAR, and didn't pay taxes on profits you should have paid taxes on anyways, prepare to get FUBARed!
FYPFY
Not really different than getting caught in any other type of tax evasion.
Topic: What is an FBAR? (Read 1420 times)
FYPFY
Not really different than getting caught in any other type of tax evasion.
If you need to file an FBAR, prepare to get FUBAR?
Awesome. Very good to know.
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Report-of-Foreign-Bank-and-Financial-Accounts-(FBAR)
I have never heard of transaction volume mattering for FBAR filing. It only matters if the value of the account is >$10K.
I have never heard of transaction volume mattering for FBAR filing. It only matters if the value of the account is >$10K.
Listening to Trace Meyer here and he talks about needing to file an FBAR... https://www.youtube.com/watch?v=kxQTcR4hoh8
My account at Mt. Gox has never had more than $10,000 in the account at one time, but I have done more than $10,000 in transactions over the many months. I'm a bit confused on what to do here or what this means in terms of taxes owed.
My account at Mt. Gox has never had more than $10,000 in the account at one time, but I have done more than $10,000 in transactions over the many months. I'm a bit confused on what to do here or what this means in terms of taxes owed.
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