In recent months, the IRS has revised a public announcement and issued a practice unit on IRS Form 3520-A reporting and ...

Foreign trust reporting obligations can apply to a domestic trust established even within the US and the recent regulations ...

However, a foreign trust creates complex IRS reporting requirements for US taxpayers who own a foreign trust under the grantor trust rules, or are beneficiaries with an investment in a foreign trust.

On May 8, the IRS issued proposed regulations addressing matters related to foreign trusts and large gifts received from "nonresident aliens" (NRAs) by a U.S. person. See REG-124850-08 (proposed ...

Are you concerned about the high IRS tax rates on a foreign trust? It is important to understand the tax and reporting consequences on this specific type of investment.

Last month, the agency held a public hearing on a proposal the IRS released in May that would alter the guidelines for the reporting of transactions involving foreign trusts and gifts reflected on ...

Many dual citizens and internationally mobile Americans have come under IRS scrutiny in recent years. Under the Foreign Account Tax Compliance Act, Americans must report if their foreign assets ...

A trust fund is different from a foreign trust, which has become a popular way to circumvent the U.S. tax system. Foreign trust owners must report earnings using form 3520 or form 3520-A. Grantor ...

The IRS had been automatically assessing penalties for late-filed Forms 3520, Part IV, which deal with reporting foreign gifts and bequests, at the time when they were filed. National Taxpayer ...

An IRS rule proposal could give tax professionals and clients who receive assets through foreign trusts and gifts answers to technical questions they've been posing for decades. Last month, the agency ...