Important tax deadline of June 30 approaching.

• Position: "Report of Foreign Bank and Financial Accounts" - Brief Article

Tax practitioners should consider notifying clients of their responsibility to file the "Report of Foreign Bank and Financial Accounts" (Form TDF 90-22.1) on or before June 30, 2002.

This form is required to be filed by U.S. citizens and residents who have financial interest in or signature of authority over any financial accounts, including bank, securities, or other types of financial accounts in a foreign country, if the aggregate value of these financial accounts exceeded $10,000 at any time during...