FATCA Form 8938 filing thresholds











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Attention Global Entrepreneurs and Investors! Is the IRS dragging you down? Text “Wealth” to 818-293-4857. Anthony's firm, Parent Parent LLP can help end your tax anxiety and frustration right now! We do it all so you can focus on better things. 20 successful years experience in tax planning, tax resolution (including audits!), bookkeeping, asset protection, and offshore disclosures/FBAR help. Everything you need under one roof. Thousands helped! • The filing thresholds for FATCA Form 8938 do vary: • 1) If you are single or file separately from your spouse and have more than $200,000 of specified foreign financial assets on the last day of the tax year or more than $300,000 at any time during the tax year and you live abroad. • 2) If you are single or file separately from your spouse and have more than $50,000 of specified foreign financial assets at the end of the tax year or more than $75,000 at any time during the tax year and you live in the US. • 3) If you file jointly with your spouse and have more than $400,000 of specified foreign financial assets on the last day of the tax year or more than $600,000 at any time during the tax year and you live abroad (even if only one spouse resides abroad). • 4) If you file jointly with your spouse and have more than $100,000 of specified foreign financial assets at the end of the tax year or more than $150,000 at any time during the tax year and you live in the US. • 5) If you do not have to file an income tax return for the tax year you do not have to file form 8938 regardless of the value of the specified foreign financial assets. • • Need help with Tax Preparation? • Book a discovery call with the IRS Medic team: • https://irsmedic.com/prep • Need help with Tax Planning and Strategies? • Book a discovery call with the IRS Medic team: • https://irsmedic.com/wealth

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