The AICPA has recommended that the Financial Crimes Enforcement Network (FinCEN) automatically grant filing deadline postponements for the Report of Foreign Bank and Financial Accounts (FBAR) to align with the relief provided by the IRS.
Currently, taxpayers in disaster areas receive filing deadline postponements from the IRS, but FinCEN does not automatically grant the same relief for FBARs.
The AICPA suggests that FinCEN adopt a policy to match the relief provided by the IRS, both in terms of extended due dates and geographic scope.
The recommendation aims to provide consistency and fairness for taxpayers impacted by major disasters.