{"id":555,"date":"2018-01-09T18:46:39","date_gmt":"2018-01-09T23:46:39","guid":{"rendered":"http:\/\/tax-power.com\/?p=555"},"modified":"2018-01-09T18:46:39","modified_gmt":"2018-01-09T23:46:39","slug":"foreign-crypto-currency-accounts-need-to-be-included-in-fbars-and-fatca-reports","status":"publish","type":"post","link":"https:\/\/tax-power.com\/?p=555","title":{"rendered":"Foreign crypto currency accounts need to be included in FBARS and FATCA Reports"},"content":{"rendered":"<p>Just a reminder that the IRS has been clear in stating that crypto currency is akin to a financial investment or medium of exchange and therefore if a U.S. person has a foreign account or owns a controlling interest in the stock of a foreign company that holds crypto currency in any type of wallet or account, the rules pertaining to FBAR and FATCA reporting do apply and if a Form 114 or 8938 is required those accounts need to be reported and the value determined in US dollars must be determined and included.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just a reminder that the IRS has been clear in stating that crypto currency is akin to a financial investment &hellip; <a href=\"https:\/\/tax-power.com\/?p=555\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Foreign crypto currency accounts need to be included in FBARS and FATCA Reports<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-555","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Foreign crypto currency accounts need to be included in FBARS and FATCA Reports - Tax Power-U.S. International Tax &amp; Business Solutions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tax-power.com\/?p=555\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foreign crypto currency accounts need to be included in FBARS and FATCA Reports - Tax Power-U.S. International Tax &amp; 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