The U.S. Dept. of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has announced filing relief for taxpayers affected by the terrorist attacks in Israel. Certain taxpayers must annually report their foreign financial accounts to the U.S. Treasury by filing Reports of Foreign Bank and Financial Accounts (FBARs) on FinCEN Form 114. Specifically, U.S. taxpayers must file an FBAR to report a financial interest in an account located outside the U.S. if the aggregate value exceeds $10,000 during the calendar year. FinCEN has extended the filing deadline for certain taxpayers for calendar year 2022 FBARs to Oct. 7, 2024. For more information from FinCEN: https://bit.ly/3Q20eFM
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