Monday, January 3, 2011

New Form 8938 Required to Report Foreign Financial Assets For Tax Years Beginning after 3/18/10

For tax years beginning after 3/18/10 you must now file form 8938 to report your foreign financial assets if the total value of those assets equals or exceeds $50,000 in that taxable year. The final form and instructions defining those foreign financial assets which are included have  not yet been released .

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