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Boston Massachusetts Form 8938: What You Should Know
To Make Sure Your Foreign Tax Return Is Filed on Time Oct 15, 2025 — The IRS has the authority to suspend the filing of FATWA. As a result, the filing of FATWA form 8938 prior to this date provides no certainty for your tax liability and filing. If you choose to file a Form 8938 during this time, take the following additional steps to make sure you can file your tax return on time: You should file Form 2949, Foreign Bank and Financial Accounts, with your financial institution to report any foreign financial assets and deposits in U.S. financial institutions. If you have income from foreign sources that you will or can use to avoid U.S. withholding requirements (for example, the value of a rental in the foreign country) and you do not pay U.S. tax on that income, you should report that income in another way and pay tax on any U.S. source income (including earned income) earned in that country. For more information on FATWA, see our article, How to File a Form 8938 with the FFI and Other Taxpayers, to meet the September 15, 2020, filing deadline. 35. If you did not answer not to line 35, you must choose the option of filing a Notice of Individual Foreign Income, Deduction, or Loss Due to a Specified Foreign Corporation, Partnership, or Trust. 38. Do you intend to file: (a) US tax return on foreign source income (including, Filing FATWA Form 8938 with U.S. Expats May 20, 2025 — If you plan to file a Notice of Individual Foreign Income, Deduction, or Loss Due to a Specified Foreign Corporation, Partnership, or Trust, you must file it by May 20, 2023? FATWA Form 8938—Your US Expat Tax Return For instructions and links, read the FATWA form 8938 tutorial: FATWA Form 8938 Toolkit to be available from April 2018. 39. What is 'Foreign Source Income' and what does it include? “Foreign Source Income” is money you earn from activities (including wages) abroad that is related and regular in the case where your gross income for the foreign country is less than 100,000. If you have foreign source income from a U.S.
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