Zinner & Co. Blog and Newsroom

International Financial Reporting Standards (IFRS)

Posted by Zinner & Co. on Jun 6, 2011 11:39:00 AM

by Joe Ramey, ATS Manager

The SEC recently released a work plan for how International Financial Reporting Standards (IFRS) might be worked into the U.S. financial reporting system, stressing that the SEC has not yet committed to convergence of U.S. GAAP with IFRS.

The plan drew a picture of how dramatically Financial Accounting Standards Board’s (FASB) role may change in standard setting.

Read More

Topics: international, Taxes - Planning, Rules and Returns

What the FBAR are you talking about?!?!?!

Posted by Zinner & Co. on Jun 3, 2011 11:41:00 AM

FBAR, otherwise known as Foreign Bank Account Reporting Form TD 90.22-1, is a separate filing from the U.S. Income tax return. Its purpose is to inform the federal government of the existence of foreign financial accounts in which you have an interest. Why do they want to know about this? To protect against international terrorism, combat money laundering and other crimes and to identify illicit funds or income escaping federal income tax because the money is being hidden outside the US!

Who is required to file?

Read More

Topics: international, Taxes - Planning, Rules and Returns

CATEGORIES

Latest Posts

Click me

Subscribe to Our Blog