credit What is FinCEN? “FinCEN is the Financial Crimes Enforcement Network, a bureau of the United States Department of the Treasury, that collects and analyzes information about financial transactions

To start, let me disclose that I am not a financial advisor, tax advisor, or an accountant. I am just a regular guy working an 8 to 5 job that also likes to trade cryptocurrencies on the side while staying

United States taxation is one of the most complex tax systems in the world. Cryptocurrencies have only added another layer of complications to the tax matters of Americans who traded cryptocurrencies.

Note: I'm re-posting because the originally has been totally unnoticed because I sent it on the first day I got my account The US tax system is terrible for US persons living or wishing to live overseas.

The US tax system is terrible for US persons living or wishing to live overseas. Only USA and a handful third world countries charge taxes to citizens (or green card holders) when they aren't residing

Index - Discussion Taxpayers with financial interests in foreign accounts are subject to unique reporting requirements. The reporting was originally created to help the IRS combat tax evasion through offshore

FBAR reports are the filings used to report foreign bank accounts, and most crypto trading platforms host their accounts outside the U.S., and as such these accounts are considered foreign bank accounts.