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  • With our Partner Lesley Lempel with Atchley international and Investimenti Estero, we are ready to permit you to discover wonderful property in Florida, and help your for you trip and your stay, we will give you advise if you look for a property who give you a nice income.
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FATCA Foreign Account Tax Compliance Act
The provisions commonly known as the Foreign Account Tax Compliance Act (FATCA) became law in March 2010.
FATCA targets tax non-compliance by U.S. taxpayers with foreign accounts
FATCA focuses on reporting:               
By U.S. taxpayers about certain foreign financial accounts and offshore assets
By foreign financial institutions about financial accounts held by U.S. taxpayers or foreign entities in which U.S. taxpayers hold a substantial ownership interest
The objective of FATCA is the reporting of foreign financial assets; withholding is the cost of not reporting.
U.S. individual taxpayers must report information about certain foreign financial accounts and offshore assets on Form 8938 and attach it to their income tax return, if the total asset value exceeds the appropriate reporting threshold.
Form 8938 reporting is in addition to FBAR reporting.

> Learn More ... http://www.irs.gov/Businesses/Corporations/FATCA-Information-for-Individuals
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