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dlclark97

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About dlclark97

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  1. The interest earned in a Thai bank account has nothing to do with this report. The only values cared about is the peak value during the calendar year of any account(s) you have in a foreign bank.
  2. One poster commented the FBAR report had to be filed by end of June. As of the 2019 report the filing date coincides with the IRS income tax due date of 15 April. The date due for the FBAR is not extended beyond that date as with your tax return. Also, as said the report can be done in five (maybe ten) minutes on line and has nothing to do with any taxation. It is related to financial crimes activities only. The amount required to be reported is the peak value of the account(s) during the year in USD. Add these amounts for multiple accounts and use the official exchange rate from https://www.fiscal.treasury.gov/reports-statements/treasury-reporting-rates-exchange/current.html to convert Thai baht to USD. There is no connection or impact on your income tax liability but as has been said there can be extremely heavy fines for failing to report. Make sure you go to the official government site at site https://bsaefiling.fincen.treas.gov/main.html to file this report on line. There are many offers available at a high cost to do this report for you but you can easily do the report yourself.
  3. Recently my daughter was given homework to rearrange the words in 10 disorganized sentences into proper English sentences. The teacher was a native Thai. Unfortunately (maybe fortunately) I did not see this homework before she turned it in. I did see the 'corrected' paper when it was returned. Of the ten disorganized sentences my daughter correctly rearranged one but she received an OK checkmark on all ten sentences. Having a native Thai who knows a few English words but has no clue as to sentence structure and by the video I just watched, no knowledge of proper pronunciation is a disservice to any Thai actually wanting or needing to learn English. Like it or not English is the international language used in business and especially in all airlines for effective communications. It needs to be properly taught if Thai students are to succeed in the future of international commerce.
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