The Financial Crimes Enforcement Network reminded U.S. persons, and those with signatory authority over foreign financial accounts the aggregate value of which exceeds $10,000 at any time during a calendar year, to file their required reports on Foreign Bank and Financial Accounts (commonly known as "FBARs") by June 30, 2016.
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The IRS reminded taxpayers who have one or more bank or financial accounts located outside of the United States, or taxpayers who have signature authority over such accounts, that they might be required to file an FBAR by June 30, 2016.
The Internal Revenue Service proposed crypto broker reporting regulations.
The IRS postponed the application of the new "digital assets broker reporting rules" until the issuance of new final regulations interpreting those sections.