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13th Check Request Option for New 10month Employees Requirements for New Employees who may elect the 13th check option: Must be a New Employee to the District Must be hired and on duty in time to
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FATCA (Foreign Account Tax Compliance Act) requires U.S. financial institutions to report on the foreign assets held by U.S. account holders.
U.S. taxpayers with specified foreign financial assets exceeding certain thresholds must file Form 8938, which is part of the FATCA reporting.
Form 8938 must be filled out accurately by listing the foreign financial assets, providing their values, and disclosing any foreign accounts as specified in the instructions.
The purpose of FATCA is to prevent tax evasion by U.S. taxpayers using foreign accounts.
Taxpayers must report the name of the financial institution, the account number, the maximum value of the asset during the year, and whether the asset is held jointly.
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