• Extension of Deadline for Reporting Foreign Accounts for Certain Taxpayers to September 23
  • July 6, 2009
  • Law Firm: Proskauer Rose LLP - New York Office
  • On June 24, 2009, the Internal Revenue Service (the "IRS") issued guidance to taxpayers (both taxable and tax-exempt) that have properly reported all of their taxable income but only recently learned that they have an obligation to file a Report of Foreign Bank and Financial Accounts (commonly known as "FBAR") and do not have sufficient time to gather the information necessary to properly file the FBAR for 2008 by the June 30, 2009 due date.