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Form 8938 – No Requirement to File with Forms 1120, 1120S, 1065 & 1041 for TY 2012

The IRS has received some Form 8938 submissions from Domestic Entity filers for TY12. Please be advised that these entities are not required to file Form 8938 for TY12. The IRS anticipates issuing regulations in the future that will require a domestic entity to file Form 8938 if the entity is formed or availed of to hold specified foreign financial assets and the value of those assets exceeds the appropriate reporting threshold. Until the IRS issues such regulations, only individuals must file Form 8938.

 

For more information on Form 8938 and FATCA legislation you may refer toFATCA Website. Also, please see page two of the Form 8938.

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