The Resource New Year brings new US reporting requirement introducing Form 8938 - Statement of Specified Foreign Financial Assets

New Year brings new US reporting requirement introducing Form 8938 - Statement of Specified Foreign Financial Assets

Label
New Year brings new US reporting requirement introducing Form 8938 - Statement of Specified Foreign Financial Assets
Title
New Year brings new US reporting requirement introducing Form 8938 - Statement of Specified Foreign Financial Assets
Creator
Subject
Language
eng
Summary
This article gives an overview of new reporting requirements for US taxpayers who own "specified foreign financial assets" (SFFAs) as introduced by the FATCA provisions of the Hiring Incentives to Restore Employment (HIRE) Act. The article considers: (I) What is a specified foreign financial asset? (II) What must be reported on Form 8938? (III) How do I determine the value of my SFFAs? and (IV) What penalties apply for failure to comply?
Citation source
In: Tax planning international review. - London. - Vol. 39 (2012),
http://library.link/vocab/creatorName
Dichter, A
Geographic coverage
North America
Language note
English
http://library.link/vocab/subjectName
  • foreign source income
  • information return
  • penalties
Label
New Year brings new US reporting requirement introducing Form 8938 - Statement of Specified Foreign Financial Assets
Instantiates
Publication
Label
New Year brings new US reporting requirement introducing Form 8938 - Statement of Specified Foreign Financial Assets
Publication

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