IRS Chart Clarifies Separate Form 8938 and FBAR Reporting Requirements

IRS Chart Clarifies Separate Form 8938 and FBAR Reporting Requirements

As part of the Hiring Incentives to Restore Employment (HIRE) Act, the Foreign Account Tax Compliance Act established a new and distinct foreign asset disclosure regime under Section 6038D requiring specified persons that hold interests in “specified foreign financial assets” to attach...

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