Form 8938 my name is danae navani and before we get started with the meat of the presentation a few administrative items to go over use the win the questions pane in the GoToWebinar dashboard to so many questions or comments you have as we go to the presentation we have a lot of material to cover today and we're going to try to address questions at the end if we're not able to get your questions we will follow up with you by an email after the webinar the presentation will be one hour and at the end o be a slide with the contact information for the presenters at the at some point after stays webinar a copy of these slides will be on our website which is www their screen any of the attendees some of you are signed up for cpe and CLE and for those of you who are want that credit it's imperative that you do answer the following questions and finally please send us any comments you have or suggestions for future programs today we're going to take a look at the details behind the new IRS from 8938 the presenters are proud to telling myself parag is an attorney with the patel law offices in metropark his practice concentrations and tax business law in the state planning he's worked extensively on complex tax and estate planning issues and other tax motivated transactions Prague was recently named as a new jersey super lawyer rising star by New Jersey magazine for tax estate planning he was the 2010-2024 chairman of the tax chairman of the tax law estate planning and probate and trust committees in the American Bar Association's GP solo and small firm division he's a certified estate planning law specialist certified elder...
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8938 threshold Form: What You Should Know
The Form 8938 Foreign Asset Reporting 2018 May 11, 2024 — The latest version of the Form 8938 filing form was approved as of February 23, 2018. The 2024 Form 8938 requires some to-do items. What Is IRS Form 8938 (11/21/2017) | Internal Revenue Service You and your spouse do not have to file Form 8938. You do not satisfy the reporting threshold of more than 400,000 on the last day of the tax year or more than IRS Form 8938: What It Is, and Who Needs to File — H&R Block The Form 8938 thresholds are different for different types of tax filers: Qualified taxpayers living in the US: Unmarried individual (or married filing a Form 8938 Foreign Asset Reporting Requirements 2022 If you are not married, you satisfy the reporting threshold only if the total value of your specified foreign financial assets is more than 200,000 on What Is IRS Form 8938 May 4, 2024 — The Form 8938 filing form was approved as of February 23, 2018. The 2024 Form 8938 requires some to-do items. What Do I Need to Do If I Hold a Foreign Investment? If the foreign assets you want to report are your primary interest, you qualify for a foreign investment exclusion from U.S. tax. You may not be able to use a tax-sheltering investment like a qualified retirement plan or an IRA, however. Check with an expert on your own. The Foreign Investment Rule If you own or hold a foreign financial asset (in a partnership, S corporation, or LLP) that will provide more than 50 percent of your income in some year but less than 95 percent in a Tax-sheltered account or taxable brokerage account, you can exclude that asset from U.S. tax. You do have to be able to demonstrate that the investment is an eligible investment, however, if the foreign asset was a qualified investment, and you own 50% or less of it. Foreign Assets Under 1,000 A foreign financial asset is any interest in any foreign financial asset (including a security or a commodity) that has a minimum Interest is foreign. U.S. taxpayers may be able to exclude U.S. interest on a foreign financial asset under foreign tax law. See U.S. Tax Code section 1(h)(1). U.S.
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