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NEWEST TAX INFO

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NEWEST TAX INFO

Post by johninajijic on Sun Jan 01, 2012 8:10 pm

Just received this from my Tax Man"
Form 8938, statement of specified foreign financial assets, is now final. The good news is that, generally, it only applies to those with over $200,000 in foreign assets if you are living abroad. If you are required to file the form please contact me so I can provide you with the information needed.

Those having accounts over $10,000 are still required to file form TD F 90-22.1. Again if you are reporting this form let me know and I will provide you with the information needed.

The term foreign assets above does NOT include the value of your residence here.
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Re: NEWEST TAX INFO

Post by Parker on Mon Jan 02, 2012 1:16 am

johninajijic wrote:Just received this from my Tax Man"
Form 8938, statement of specified foreign financial assets, is now final. The good news is that, generally, it only applies to those with over $200,000 in foreign assets if you are living abroad. If you are required to file the form please contact me so I can provide you with the information needed.

Those having accounts over $10,000 are still required to file form TD F 90-22.1. Again if you are reporting this form let me know and I will provide you with the information needed.

The term foreign assets above does NOT include the value of your residence here.

John, my question still is, are the Mexican banks going to comply with US government request to provide this personal information, Canada has already declined. This is a very costly expense to those that will receive very little for doing so. When did the US government just get so stupid, (Bush, Jr.?) actually It’s just too embarrassing.

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