Americans now required to disclose all foreign financial assets by Richard S. Lehman, Esq. Background A little known new law was enacted for the year 2011 that requires, that once certain minimum amounts are exceeded, any specified person that holds…
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The Foreign Account Tax Compliance Act (FATCA)
Posted in Domestic Taxation, IRS Amnesty, OVDP, Bank Deposits, Foreign Assets, Streamlined Compliance Tagged with: (HIRE) Act, Assets held by disregarded entities, Assets held by Grantor Trust, Assets held in financial accounts, Exceptions to Reporting, FATCA, FATCA implementation, Financial Account, foreign account tax compliance, foreign assets, Foreign Deposit and Custodial Accounts, Foreign estates and foreign trusts, Foreign financial institution, Foreign financial institutions (FFIs), Form (Form 8938), Interest in assets held by disregarded entities, Interests in assets generating certain unearned income of children. Interests in assets held by entities that are not disregarded entities, Interests in assets held by grantor trust, Interests in assets held in financial accounts, Interests in foreign estates and foreign trusts, Interests in jointly owned assets, Interests in Specified Foreign, Investments in offshore accounts, Other Foreign Assets, Other specified foreign financial assets, richard lehman, Specified Foreign Financial Asset Exceptions, Specified Foreign Financial Assets, Tax evasion, Taxpayers Holding Foreign Financial Assets, Total Value of Your Specified Foreign Financial Assets, us disclosure, Valuing financial accounts, Valuing in foreign trusts
Richard S. Lehman, Attorney At Law
“The best rule to follow in the field of tax law is to plan legal matters and obtain precision advice in advance to insure commercial endeavors are completed at minimum tax costs and personal lives are minimally disrupted.” - Richard S. Lehman, Esq.Search By Topic
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- This article has been translated into French - it is a general overview of United States Taxation of Foreign Investors
