Due Diligence in a Pandemic World
IRS Issues Draft Form 1065 Instructions; Tax Basis Capital Accounts Will be Required for 2020

FBAR Deadline Extended to Oct. 31 After Confusion

On Oct. 14, Treasury’s Financial Crimes Enforcement Network (FinCEN) posted an inaccurate message on its Bank Secrecy Act E-Filing webpage that may have caused some FBAR filers to miss their Oct. 15 deadline. To correct this error, FinCEN has indicated that 2019 calendar year FBARs filed by Oct. 31, 2020, will be deemed as timely filed. The Dec. 31 extension is only available for victims of recent natural disasters.




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