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New IRS form for Overseas taxpayers (March 23, 2012)

New IRS form for Overseas taxpayers (March 23, 2012)

The Internal Revenue Service (IRS) released a new Form 8938 that requires taxpayers to report on certain foreign financial assets for tax year 2011. The Form 8938 (Statement of Specified Foreign Financial Assets) should be filed by taxpayers with specific types and amounts of foreign financial assets or foreign accounts. It is important for taxpayers to determine whether they are subject to this new requirement because the law imposes significant penalties for failing to comply.

You can use Form 8938 to report the ownership of specified foreign financial assets if the total value of those assets is more than the applicable reporting threshold. For instructions and more information on this form please visit the following web page: http://www.irs.gov/businesses/corporations/article/0,,id=236667,00.html

U.S. Embassy Moscow cannot offer specific guidance on U.S taxes. For immediate assistance from a taxpayer specialist, you can call, fax or email the International Customer Service Site located in Philadelphia. The Service Site is open Monday through Friday, for 17 hours each day, from 6:00 AM to 11 PM, Eastern Time. The customer service representatives there can be contacted as follows:

Tel: 001-267-941-1000 (not toll-free)
Fax: 001-267-941-1055
E-mail inquiries: www.irs.gov/help/page/0,,id=133197,00.html

The IRS office servicing the residents of Russia is located at the U.S. Consulate General in Frankfurt. The IRS in Frankfurt is scheduling appointments for Tuesdays from 9:00 -12:30. IRS does not take walk in customers, to schedule an appointment, please call 069-7535-3811.

For answers to your tax questions 24 hours a day, 7 days a week, go to http://www.irs.gov/. Most tax questions can be answered by visiting this web site.

The IRS office in Frankfurt will accept tax returns, tax payments, W-7 applications, and taxpayer correspondence. Their mailing address is:

U.S. Consulate General Frankfurt
Internal Revenue Service
Giessener Str. 30
60435 Frankfurt/Main
Tel: 49 69 7535-3834 or 3823
Fax: 49 69 7535-3803

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The American Citizen Services Unit of the U.S. Embassy in Moscow assists U.S. citizens in Russia. We can help you with passport issuance and renewal, voter assistance, notarials, and registering a child born abroad. We also provide emergency services for American citizens in case of a disaster or in case of illness, arrest, death or destitution while in Russia. Appointments are required for all non-emergency services; you can make an appointment by calling the ACS Unit at 7 (495) 728-5577, or you may click here to schedule an appointment online. To contact us with questions, please write to moscowwarden@state.gov.

The Embassy offers information about travel to Russia on our website, and we also encourage you to read the Country-Specific Information Sheet for the Russian Federation provided by the Department of State. For the latest security information, U.S. citizens living and traveling abroad should regularly monitor the Department of State's Bureau of Consular Affairs Internet website at http://travel.state.gov/, where the current Worldwide Caution, Travel Warnings and Travel Alerts can be found. Up-to-date information on security can also be obtained by calling 1-888-407-4747 toll-free in the United States and Canada or, for callers outside the United States and Canada, a regular toll line at 1-202-501-4444. These numbers are available from 8:00 a.m. to 8:00 p.m. Eastern Time, Monday through Friday (except U.S. federal holidays).

We strongly recommend that U.S. Citizens and nationals traveling to or residing overseas to enroll in the State Department’s Smart Traveler Enrollment Program (STEP). U.S. Citizens and nationals without internet access may enroll directly with the nearest U.S. Embassy or Consulate. Enrolling signs you up to receive updated information about areas abroad and makes it easier for the U.S. Embassy or Consulate to contact you or your designated contact in case of an emergency.