The IRS has issued final regulations on the application of the rules that require certain domestic entities to annually report their interest in certain foreign assets effective for tax years beginning after Dec. 31, 2015.
Previously only specified individuals, namely: US citizens, US resident aliens, or nonresidents electing to be taxed as a US resident, were required to disclose their interest in certain foreign financial instruments by attaching Form 8938 (Statement of Specified Foreign Assets) to their individual tax return. However, beginning Jan. 1, 2016, the IRS now requires specified domestic entities - partnerships, corporations, or trusts to also attach Form 8938 to their tax return.
A domestic corporation or partnership will be required to complete the disclosure if:
You're Invited! Not-For-Profit CFOShare
Tuesday December 10, 2019
4:00 PM - 6:00 PM
You're Invited! Annual Accounting & Business Conference
Wednesday December 4 2019
Hosted at the MSU Management Education Center in Troy, MI
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Thursday November 21, 2019
Detriot Athletic Club
241 Madison Avenue
Detriot, MI 48226