Form 8938 | MKHS Tax Group

EXPERT TAX TIPS - STAY IN THE KNOW

US expatriate reviewing foreign bank account documents and FBAR filing requirements

Tax Tip Tuesday: Foreign Bank Account Common Mistakes — And How to Avoid Them

US citizens and expats with foreign bank accounts face strict IRS and FinCEN reporting requirements. From FBAR to FATCA, learn the most common mistakes — and how to stay compliant.

Mar 176 min read

Article titled “When to Amend vs. When to Wait: A Practical Guide for Domestic and International Tax Returns” explaining when to amend tax returns versus when to wait, with emphasis on missed foreign income, FBAR penalties, Forms 8938, 5471, 8865, and 3520 reporting requirements, and strategic tax risk management considerations.

Tax Tip Tuesday: When to Amend vs. When to Wait: A Strategic Framework for General Domestic and International Tax Returns

Should you amend a tax return — or wait? In domestic filings, corrections are often straightforward. But when foreign income or international reporting is involved, the decision becomes more strategic. Missed foreign income, FBAR filings, and forms like 8938, 5471, or 3520 can carry penalties even if no tax is owed. This article explains when amending reduces risk, when waiting makes sense, and why international corrections require careful evaluation before taking action.

Feb 243 min read

Digital world map with glowing financial icons — bank, document, dollar sign, and shield — symbolizing global tax compliance and reporting, in a clean blue and silver design with subtle network lines.

Late Foreign Bank Account Reporting and Foreign Account Tax Compliance Act Filings: Streamlined vs. Delinquent Procedures

Learn the difference between Streamlined and Delinquent FBAR/FATCA filings and how to get compliant with IRS offshore reporting rules safely.

Nov 6, 20253 min read

Finalizing Your Onshore and Offshore Disclosures Before Year-End

or individuals with both domestic and foreign financial connections, wrapping up onshore and offshore disclosures now can save you from unne

Dec 13, 20243 min read

Filing the FBAR and FATCA: Deadline Reminders for Expats

If you are living abroad and have foreign bank accounts or financial assets, two critical reporting obligations might apply: FBAR and FATCA

Dec 11, 20242 min read