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What are the new US Tax Rules regarding offshore assets of US taxpayers?

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Gary Carter, PhD, MT, CPA
Here's a chart outlining your filing requirements from the IRS web site:

www.irs.gov/Businesses/Comparison-of-Form-8938-and-FBAR-Requirements (If this link doesn't work - copy and paste the full address)

If you believe you are in noncompliance, here is a comprehensive list of references:

www.irs.gov/Businesses/Corporations/InformationforUSTaxpayers

Seek professional advice before submitting past due forms, but be careful to find a professional who is experienced with this issue, and be sure to obtain an engagement letter outlining their fees. You will want to be educated on all avenues available to become compliant, aside from the amnesty program.
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