Discover the key aspects of filing the Report of Foreign Financial Assets (Form 8938). Learn the requirements, asset types, and noncompliance penalties.
If you have a foreign bank account or assets, you hopefully know how many IRS eyes are on you. See 5 Nations Join U.S. In Tax Evasion Crackdown. While it's perfectly legal to have money or assets ...
Of all the international information return obligations, the IRS Form 8938, Statement of Specified Foreign Financial Assets, is a relative newcomer. Enacted as part of the Hiring Incentives to Restore ...
In the Final Regulations effective December 12, 2014, TD 9706, Reporting of Specified Foreign Financial Assets, the IRS addressed such issues as dual residents, valuation challenges, foreign currency, ...