Internal Revenue Service Requires New Disclosure Form for Specified Foreign Financial Assets in the New Year

Internal Revenue Service Requires New Disclosure Form for Specified Foreign Financial Assets in the New Year

In 2010, the Foreign Account Tax Compliance Act (FATCA) created a new statute, Internal Revenue Code Section 6038D (Section 6038D) that requires specified persons with an interest in specified foreign financial assets that exceed $50,000 in value to file a statement with their income tax return...

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