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Online Gambling Addresses

Earlier this week I wrote about FBAR filing requirements for U.S. Online Poker Players and the penalties associated with late filing.

If you peruse the FBAR form, Form TD F 90-22.1, you’ll realize each bank account you are disclosing must be listed separately, with financial institution information including address of the financial institution.

Fellow tax practitioner Russ Fox tells us that the addresses of some offshore online casinos are not easily obtained.  If you are in need of an address of an online gambling site, be sure to check out his recently updated comprehensive list.

As an aside, yesterday my firm was retained by a U.S. citizen who was born in the U.S. but has lived in Germany since age 3.  He has maintained bank accounts in Germany for the past seven years.  Yep, he’s subject to FBAR reporting.  The general instructions on the FBAR form clearly state a “United States person” includes U.S. citizens.  There’s no indication of an exception for our new client, despite his almost complete disassociation with the U.S., besides his citizenship.  And no, his ignorance of the law is not an excuse for failing to timely file.

He’s hired us to file FBAR reports for those past seven years.  Only time will tell whether the Treasury Department assesses the hefty penalties.

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