IRS Instruction 8938 2011 free printable template

2017Department of the Treasury Internal Revenue ServiceInstructions for Form 8938 Statement of Specified Foreign Financial Assets Section references are to the Internal Revenue Code unless otherwise

How to fill out IRS Instruction 8938

How to fill out IRS Instruction 8938

1. Gather all necessary information about your foreign financial assets, including account numbers, the value of the assets, and the institutions where they are held.
2. Complete the top part of IRS Form 8938, including your name, address, and taxpayer identification number.
3. Indicate the tax year for which you are filing the form.
4. Report the total value of each financial asset in the appropriate sections of the form.
5. Fill out the specific details of each foreign asset, such as the name of the financial institution, account numbers, and the types of accounts held.
6. Make sure to check the boxes for any applicable types of assets, like bank accounts, foreign securities, and interests in certain foreign entities.
7. Review the instructions to ensure you meet any reporting thresholds based on your filing status and residency.
8. Sign and date the form before sending it with your tax return.

Who needs IRS Instruction 8938?

1. U.S. taxpayers who have an interest in specified foreign financial assets and whose total value exceeds certain reporting thresholds must file IRS Instruction 8938.
2. Specifically, it applies to individuals living abroad and those whose foreign assets exceed $50,000 at the end of the year or $75,000 at any time during the year.

People Also Ask about

How do I speak with person at IRS?

Contact an IRS customer service representative to correct any agency errors by calling 800-829-1040 (see telephone assistance for hours of operation).

Is this a real IRS phone number?

You can call 1-800-829-1040 to get answers to your federal tax questions 24 hours a day. Tax forms and instructions for current and prior years are available by calling 1-800-829-3676.

Why is my tax return taking so long?

This may happen if your return was incomplete or incorrect. The IRS may send you instructions through the mail if it needs additional information in order to process your return. You may also experience delays if you claimed the Earned Income Tax Credit or the Additional Child Tax Credit.

Is 800-829-0922 a real IRS number?

What you need to do. Call 800-829-0922 to order forms and publications. If you have the expired check, please destroy it.

Who has this phone number 800 829 3676?

Federal Income and Payroll Tax Visit the IRS website or contact a local office in California. Customer service phone numbers: Tax Forms: 1-800-829-3676.

Is 800 829 8374 a real IRS phone number?

Tax practitioners with account or tax law questions may call 800-829-8374.

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What is IRS Instruction 8938?

IRS Instruction 8938 is a form that individuals must use to report specified foreign financial assets to the Internal Revenue Service (IRS) if the total value of those assets exceeds certain thresholds.

Who is required to file IRS Instruction 8938?

U.S. citizens, resident aliens, and certain non-resident aliens who have an interest in specified foreign financial assets and whose total value exceeds the reporting thresholds are required to file IRS Instruction 8938.

How to fill out IRS Instruction 8938?

To fill out IRS Instruction 8938, individuals need to gather detailed information about their specified foreign financial assets, including account numbers, asset types, and maximum values during the year, then follow the detailed instructions provided with the form to accurately report this information.

What is the purpose of IRS Instruction 8938?

The purpose of IRS Instruction 8938 is to combat international tax evasion by requiring U.S. taxpayers to report their foreign financial assets, ensuring compliance with tax laws.

What information must be reported on IRS Instruction 8938?

Taxpayers must report information including the types of specified foreign financial assets, the maximum value of each asset during the tax year, account numbers, and the country in which the financial institution is located.