If you have bank accounts, securities or other financial accounts in a foreign country, you could be assessed an inflation-adjusted penalty for failure to file a Report of Foreign Bank and Financial Accounts (FBAR).

For more information, contact Liza Vasyliv by calling (770) 287-7800 or email lvasyliv@rushtonandcompany.com. Stay tuned for more tax tips or follow them on our social media accounts every #TaxTipTuesday!