According to Michael Caballero, Treasury international tax counsel, the Treasury plans to issue final instructions for Form 8939, the FBAR. Additionally, Caballero, who was speaking at the New York University School of Continuing and Professional Studies annual Institute on Federal Taxation, stated the next significant piece of international guidance will likely address Section 892, the rules exempting some investment income of foreign governments. The full summary can be accessed at Tax Analysts.
See Amy S. Elliot, "Tax FBAR Rules Expected By Year's End, Treasury Official Says," 2011 TNT 206-3 (October 25, 2011).
By Derek Young, Associate Editor, Wealth Strategies Journal
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