Foreign Bank Account Reporting Deadline Extended to October 15
Taxpayers have been granted an additional three weeks to disclose their offshore bank accounts. The IRS extended the September 23 deadline at the request of tax practitioners who have been receiving many questions from clients regarding making disclosures.
“By extending the deadline for a short period of time, the IRS is providing relief for those taxpayers who had intended to come forward prior to the deadline, but faced logistical and administrative challenges in meeting it,” the agency said in a September 21 press release. The IRS advised there would be no further extensions. Read background information on this requirement.