Hidden $10K+ Foreign Accounts? IRS Is Watching Pakistani and Indian Americans
Автор: Let Ali Show You
Загружено: 2026-02-01
Просмотров: 2458
Описание:
What happens if Pakistani and Indian Americans don’t declare $10,000 in foreign accounts? In 2026, the IRS is increasing its scrutiny on overseas assets, and the penalties for non-compliance have never been higher.
If you hold a bank account in Pakistan, India, or any other country with a balance that exceeded $10,000 at any point during the year, you are legally required to file an FBAR (FinCEN Form 114). Failing to do so can lead to massive fines, even if the mistake was unintentional.
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