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 ...
As part of the Foreign Account Tax Compliance Act (FATCA) passed by Congress in 2010, individual taxpayers are now required to report “specified foreign financial assets” on an information reporting ...
When is a US Taxpayer required to disclose offshore accounts on an FBAR and IRS Form 8938? While many US taxpayers and expatriates have come to understand the requirements of the FinCEN Form 114 or ...