Retirement brings a shift in income sources, but not necessarily a complete break from the IRS. For retirees, Form 1040 remains the central form for filing federal income taxes, even when wages stop flowing. Instead of employment income, retirees report...
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For U.S. taxpayers with overseas financial interests, compliance doesn't stop at disclosing foreign bank accounts. IRS Form 8938—required under the Foreign Account Tax Compliance Act (FATCA)—is a critical reporting obligation for those with significant foreign financial assets. Unlike FinCEN Form...