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REPORT ON FOREIGN BANK AND FINANCIAL ACCOUNTS DUE APRIL 15

The IRS announced changes to the Report on Foreign Bank and Financial Accounts (FBAR), also known as FinCEN Form 114, effective in 2016 for filings due in 2017. The biggest change is the due date, which is now April 15 of the year following the calendar year end close. The previous due date was June 30. The IRS has also granted an automatic six month extension to October 15 to complete the filing. Specific requests for this extension are not required.

The purpose of the FBAR is to disclose accounts for any US person (including citizens, resident aliens, and U.S. entities) who has a financial interest in, or signature authority over, foreign financial accounts with an aggregate value that exceeds $10,000 at any time during the calendar year. Foreign financial accounts include: checking/ savings, securities/ brokerage, tax free savings, superannuation, pensions, other retirement accounts and life insurance.

For FBAR filing assistance, contact your professional at UHY LLP in Detroit 313 964 1040, Farmington Hills 248 354 1040 or Sterling Heights 586 254 1040, or visit us on the web at www.uhy-us.com.

SPECIAL ANNOUNCEMENTS

2/16 UHY CARES TENTH ANNUAL D.M.G.C. TEXAS HOLD 'EM TOURNAMENT
We hope you can once again join us for a fun night of cards and networking for a great cause! This year's charity poker tournament will be held on Thursday, February 16 at The Iroquois Club. Registration is at 6. Game starts promptly at 7. $100 buy-in and $50 re-buy. Contact Jessica Labut to save your spot! Cash, check or credit card contributions accepted in advance or at the door. Sponsorship opportunities available. UHY Cares in cooperation with UHY LLP, the D.M.G.C. and the McCarty family hope to see you there!

3/9 UHY LLP Nonprofit Cybersecurity Workshop
The "human firewall" is now more important than ever for effective cybersecurity. Technology is no longer enough. Phishing, vishing and email compromise are billion dollar threats to businesses of all sizes. Learn how to strengthen your organization's human firewall and why cybersecurity is important for nonprofits at the UofM Detroit Center on Thursday, March 9 from 8:30-10:30AM. Two hours of A&A CPE (qualifies for Yellow Book credit) is available. Pre-registration for this complimentary breakfast program is required. To RSVP contact Jessica Labut.

Our firm provides the information in this newsletter as tax information and general business or economic information or analysis for educational purposes, and none of the information contained herein is intended to serve as a solicitation of any service or product. This information does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisors. Before making any decision or taking any action, you should consult a professional advisor who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of "UHY Advisors." UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. and UHY LLP are U.S. members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. "UHY" is the brand name for the UHY international network. Any services described herein are provided by UHY Advisors and/or UHY LLP (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members.