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FBAR at 55: How a Cold War Rule Became an Expat Crisis
November 20, 2025 - An AI generated podcast from a John Richardson presentation with IRS Medic.
AI generated summary:
"This episode unpacks FBAR—from its 1970 origins under the Bank Secrecy Act to today’s wide reporting net that catches signing authority, beneficial ownership, and many routine foreign accounts.
We explain the filing threshold, how FBAR differs from IRS information forms, the discretionary power Treasury holds to exempt Americans abroad, and why civil and criminal penalties can be severe enough to ruin lives or push people to renounce citizenship."
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By prepNovember 20, 2025 - An AI generated podcast from a John Richardson presentation with IRS Medic.
AI generated summary:
"This episode unpacks FBAR—from its 1970 origins under the Bank Secrecy Act to today’s wide reporting net that catches signing authority, beneficial ownership, and many routine foreign accounts.
We explain the filing threshold, how FBAR differs from IRS information forms, the discretionary power Treasury holds to exempt Americans abroad, and why civil and criminal penalties can be severe enough to ruin lives or push people to renounce citizenship."