Our Financial Blog
Tax-related news, information and resources for the informed taxpayer
Individual Tax Identification Number (ITIN) is required for an individual who is a spouse or a dependent who is not entitled to an SSN. A classic example are family members of an individual coming to the US on H1 visa.
Washington appears to have reached a deal on tax extenders. Extenders are a term used to refer to expired or expiring tax provisions, and tend to be short-term. That’s the case here, with most breaks renewed only through 2020.
Report of Foreign Bank and Financial Accounts (FBAR) is required for all individuals who have foreign financial accounts, such as bank accounts, brokerage accounts and mutual funds and the highest aggregate value of these accounts exceed $10,000.