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October 7, 2011IRS Releases Draft Version of Instructions to Form 8938 for Foreign Financial Asset Holders TAX BY RON Cameron September 28, 2011, the Internal Revenue Service (IRS) released on its

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IRS releases draft versions of tax forms for public review and comments before finalizing them for the upcoming tax season.

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Taxpayers, businesses, and other entities who are required to report specific information to the IRS are required to file the draft version of the relevant tax form.

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The draft version of the tax form can be filled out electronically or manually following the instructions provided by the IRS. It is important to review the information carefully before submitting.

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The purpose of releasing draft versions of tax forms is to gather feedback from the public, tax professionals, and other stakeholders to improve the accuracy and usability of the forms.

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The draft version of the tax form will specify the required information to be reported, such as income, expenses, deductions, and credits relevant to the specific tax return.

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