Foreign Financial Assets, Form 8938 Instructions

By Julia Thomas | March 5, 2012

At the beginning of 2011, we posted about the new reporting requirement for certain individuals who own foreign assets over a certain threshold. For tax years beginning after March 18, 2010, citizens, resident aliens and certain nonresident aliens with specified foreign assets with an aggregate value exceeding the threshold must file the new Form 8938…

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Foreign Financial Assets: New Reporting Requirements

By Julia Thomas | January 10, 2011

Dana M. Trachtenberg, Esq. contributed to this post. Prior to this year, if you owned foreign financial assets totaling at least $10,000, you had to meet one set of reporting requirements, mandating disclosure of any account in which you had a financial interest or as to which you had signatory or other authority on Form…

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