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JOSEPH J. DATA, M.D., OFFICE INFORMATION Last Name: First Name: M. I: Street Address: City: State: Zip: Home pH. #: Work pH. #: Ext: Employer: School: email Address: Marital Status: S M DW Cell Phone
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FATCA (Foreign Account Tax Compliance Act) is a U.S. federal law that requires financial institutions to report on the foreign assets held by U.S. taxpayers.
U.S. persons, including individuals, corporations, partnerships, trusts, and estates, who have foreign financial assets exceeding certain thresholds are required to file Form 8938 (FATCA).
To fill out FATCA, or Form 8938, taxpayers must provide information about their foreign financial assets, including account numbers, names of financial institutions, and the maximum value of each asset during the tax year.
The purpose of FATCA is to combat tax evasion by U.S. persons holding accounts and other financial assets offshore.
FATCA requires reporting of foreign financial assets, including the type of asset, maximum value during the year, and identifying information such as account numbers and institution names.
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