What Are Report of Foreign Financial Assets (Form 8938)? Form 8938, also known as the "Statement of Specified Foreign Financial Assets," is a mandatory disclosure form required by the Internal Revenue ...

The Foreign Account Tax Compliance Act is fundamental as it affects how you report your finances, especially as an expat abroad. FATCA is why you may need to file a Report of Foreign Bank and ...

A US Person that owns US entities like corporations or partnerships that conduct cross-border business may have a Form 8938 (Statement of Specified Foreign Financial Assets) filing obligation. IRS ...

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 ...

Individuals who are required to report interests in foreign financial assets to the IRS got guidance on the process in the form of final regulations on Thursday (T.D. 9706). The regulations finalize ...

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Financial account held at a foreign branch of a U.S. financial institution No Yes Financial account held at a U.S. branch of a foreign financial institution No No Foreign financial account for which ...

The Internal Revenue Service plans to release a new information reporting form that taxpayers will need to use next tax season to report on certain types of foreign financial assets for tax year 2011.

The IRS on Saturday released the final version of Form 8938, Statement of Specified Foreign Financial Assets, and released its instructions on Monday. Affected taxpayers must use the form to report ...

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, ...

Cryptocurrency is a decentralized virtual currency. Unlike traditional currency, it exists independently of any government or financial institution. Additionally, it can be sent between users without ...