Many taxpayers and practitioners have found it difficult to file foreign bank account reports (FBARs) to be difficult and the new e-filing requirement will make the process more complicated. Taxation Partner Kevin Packman agrees that this will make the process more complex.
‘‘While e-filing theoretically makes it easier for individuals to comply with the FBAR regime, whether intentionally or not, people will still make mistakes, and the system needs to account for that,’’ Mr. Packman said.
READ: FBAR E-Filing Rule Complicates Offshore Compliance (subscription is required)
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