[broiler]

The Treasury Department form is very simple for reporting a foreign account. All you have to do is report where the funds are and the maximum value of the account during the calendar year. The maximum value question just asks you to check a box for the maximum range and the ranges are very wide. The Treasury form is separate from income taxes.

Income is supposed to be based upon sessions. There is no good definition of session, but if you use from sit down on a day until stopping, you won't be too far off. I know there is more to it than that, but I wanted to keep it easy to get the concept.