What Is FBAR? The FBAR stands for Foreign Bank Account Account Reporting An FBAR is a Report of Foreign Bank (Non USA based bank account and Financial Accounts form also known as FinCEN Form 114 Who Needs To File FBAR? All U.S. person (U.S. citizens, green card holders, resident aliens) is required to file FBAR …
The word FATCA may sound bit scary these days as your local banks and other investment financial institutions use this terminology a lot and ask you to complete additional paperwork subject to be FATCA compliance rules, and this could beproviding your foreign tax I.D. details your for example ( National Insurance number or Unique tax …
Dear TAH clients, We hope you are all well and staying safe while the world is under the spin. During this challenging time, we are committed to keeping you informed on relevant US tax updates for our individual US Expatriates clients. Our team continues to work from home, doing our best to help our clients …
An Employer Identification Number (EIN) is necessary when you need to make a deposit or file return and it is always suggested to obtain an EIN earlier to avoid the hassle. Overview An Employer Identification Number (EIN) is also known as a federal tax identification number and is used to identify a business entity. It …
There are many acronyms used by the IRS to identify the types of taxpayers and they are quite confusing for someone new, in this blog, we can discuss EIN and TIN. EIN and TIN are both used for business purposes meanwhile SSN and ITIN is used to identify yourself. EIN (Employer Identification Number) An Employer …
An Employer Identification Number (EIN) is also known as a federal tax identification number and is used to identify a business entity. EIN is a unique nine-digit number issued by the IRS and includes information about which state in which the corporation is registered. An EIN looks like the following format: XX-XXXXXXX.The first two numbers …