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INTERNATIONAL TIDBIT: Are You Ready for New FORM 8938 to Report Specified Foreign Financial Assets? BY MERIT MARLEY & MESA HUDSON Reprinted from NLS Express newsletter, January 25, 2012, The Hiring
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What is international tidbit are you?
International tidbit are you is a form used to report foreign financial accounts to the IRS.
Who is required to file international tidbit are you?
U.S. persons, including citizens, resident aliens, and certain non-resident aliens, who have a financial interest in or signature authority over foreign financial accounts.
How to fill out international tidbit are you?
The form can be filled out electronically and submitted online through the BSA E-Filing System.
What is the purpose of international tidbit are you?
The purpose of the form is to help the U.S. government combat tax evasion by ensuring that individuals with foreign financial accounts report their holdings.
What information must be reported on international tidbit are you?
The form requires information about the account holder, the account itself, and any financial institution where the account is held.
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