Tax compliance | Wallace, Plese + Dreher

FATCA Basics and Form 8938

Written November 19, 2020 by Barbara Dillon

Categories: Compliance, FATCA, Foreign Account Tax Compliance Act, Foreign assets, Foreign Financial Accounting, Foreign financial reporting, International, Tax, Tax planning

Americans with certain foreign financial assets have special tax reporting responsibilities. The Foreign Account Tax Compliance Act (FATCA) requires foreign financial institutions and certain other nonfinancial foreign entities report on the foreign assets held by their U.S. account holders or be subject to withholding on relevant payments.

Tag: Tax compliance