Tuesday, June 30, 2009

The Gods are Smiling on Foreign Bank Account Holders Today

In kinder gentler IRS news, the agency announced that today's deadline for filing the Report of Foreign Bank and Financial Accounts (FBAR) has been extended for those taxpayers that can explain why they need more time to hide report income from offshore accounts.

Apparently taxpayers have been crazy confused about whether the foreign reporting requirements apply to them because they've got so much money, in so many countries that they just don't really give a damn.

Taxpayers filing for the extension have until September 23 because that's obviously a logical date.

IRS extends offshore reporting deadline
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