The Foreign Account Tax Compliance Act (FATCA) and the Automatic Exchange of Information (AEI) are global regulations that support efforts to combat tax evasion. These initiatives require banks and ...

On 1/8/25, the National Taxpayer Advocate (NTA) published its 2024 Annual Report to Congress and identified taxpayers’ ...

They also must report their non-U.S. bank accounts on FBARs (now FinCEN Form 114) and file the FATCA Form 8938. These obligations can be onerous, and many U.S. citizens living abroad are not fully ...