Printable Form 8938 Mesquite Texas 2021-2025

Printable Form 8938 Mesquite Texas: What You Should Know

Form 8938 is for U.S. citizens or resident aliens who have a “specified foreign financial account,” which means they have “a financial interest in another country and reported the accounts here at home on their federal income tax returns.” But don't be put off by this definition. If you've been a resident of the U.S. for at least five of the past ten years, you need to file this form to report your foreign bank and foreign trust accounts (with or without a dollar figure) -- in addition to any tax-free accounts you've had in the United States since 2025 when FATWA became law. Form 8938 is not a form you should file too often because you can only file for one year at a time. It is useful when you need to report new information about the value of your accounts. (A note on Form 8938: “A U.S. person with 'foreign financial accounts' includes both U.S. residents and nonresident aliens (including the foreign spouse or child of a U.S. resident) with respect to these accounts.” See the Tax Information Bulletin (TIE) on April 11, 2011, for a full clarification.) If your foreign financial account has had more than one U.S. account holder at any time, you must report them all on paper on your tax return. There are exceptions to this rule. (See the TIE, p. 19-20.) You may also be questioned by the IRS if you've reported all of these foreign accounts on IRS Form 8938, but you don't have your current tax information or you no longer have a bank account associated with a country. The IRS may ask you to prove that you're legally resident in the nation where you have your foreign bank or trust account. The IRS offers an online assistance service for filing Form 8938. (If you don't already use it, you should get on the Internet now to get help in the form.) Here are some other helpful resources that may answer your questions about Form 8938, including some related IRS forms.

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