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

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

"Since 1996, when Congress enacted a myriad of provisions to prevent tax avoidance through the use of foreign trusts and gifts, taxpayers have had to rely on less formal guidance (e.g., Notice 97 ...

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. It may very well be time to ...

An FBAR is used to report foreign financial accounts to the federal government, which uses this information to ensure transparency and compliance with U.S. tax and other laws. A U.S. person must ...

Form 3520-A is the Annual Information Return of Foreign Trust With a U.S. Owner. A foreign trust with at least one U.S. owner files this form annually to provide information about: the trust, its ...

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 ...

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. The IRS proposal would ...