Updated news on Federal Tax Practice and Procedure along with discussions on topics relevant to tax practitioners.
Thursday, July 28, 2016
FBARs - Online Gambling Accounts
Interesting case with US v. Hom (CA 7/26/2016), 118 AFTR 2d, 2016-5057. For FBAR purposes, offshore online gambling accounts, such as ones for online poker, are not considered financial companies for FBAR reporting purposes.
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