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FBAR
Posted: Tue Feb 25, 2014 11:59 pm
by Konrad
Doing my taxes and I see they changed the name of a form, had to laugh. And had to cry as I only barely have enough money here to have to even bother.
http://www.irs.gov/Businesses/Small-Bus ... ounts-FBAR
The IRS really is
Foreign
Bank
And financial account
Reported beyond all recognition.
Re: FBAR
Posted: Wed Feb 26, 2014 12:34 am
by The Other Dave
Ugh, thanks for reminding me. Don'cha love being a citizen of the only country in the world that requires payment of income tax on income earned entirely abroad?
Re: FBAR
Posted: Wed Feb 26, 2014 12:47 am
by Konrad
The Other Dave wrote:Ugh, thanks for reminding me. Don'cha love being a citizen of the only country in the world that requires payment of income tax on income earned entirely abroad?
Whoa! You mean you make more than 90 grand a year? You can exclude quite a bit of foreign income you know!
Re: FBAR
Posted: Wed Feb 26, 2014 1:35 am
by Primarch
The Other Dave wrote:Ugh, thanks for reminding me. Don'cha love being a citizen of the only country in the world that requires payment of income tax on income earned entirely abroad?
I seem to recall something from my history lessons about taxation and representation. You must represent a taxable source of income I guess.

Re: FBAR
Posted: Wed Feb 26, 2014 2:05 am
by The Other Dave
Konrad wrote:The Other Dave wrote:Ugh, thanks for reminding me. Don'cha love being a citizen of the only country in the world that requires payment of income tax on income earned entirely abroad?
Whoa! You mean you make more than 90 grand a year? You can exclude quite a bit of foreign income you know!
Well, you have to file every year regardless, which is the PITA part.
Re: FBAR
Posted: Wed Feb 26, 2014 4:18 am
by Konrad
The Other Dave wrote:Konrad wrote:The Other Dave wrote:Ugh, thanks for reminding me. Don'cha love being a citizen of the only country in the world that requires payment of income tax on income earned entirely abroad?
Whoa! You mean you make more than 90 grand a year? You can exclude quite a bit of foreign income you know!
Well, you have to file every year regardless, which is the PITA part.
True, true. I just tried to do it with the "free" outfit from the IRS website I used the last couple years. Push e-file and "That's 39.95 please." I wrote customer service (Who got back to me within minutes. kudos for that) and was informed that it's free only for new users, and I'll have to cancel and sign up again via the IRS portal for free service. Bit of a bait and switch there. I canceled all right. A PITA indeed.
Re: FBAR
Posted: Wed Feb 26, 2014 5:11 am
by The Other Dave
Yeah, paying 40 bucks for the pleasure of being told you don't owe anything seems... Well, I dunno, you're paying for convenience I guess. Still.