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 ...

The IRS has clearly identified legitimate reasons why "U.S. Persons" would establish or maintain ownership in a foreign trust. However, a foreign trust creates complex IRS reporting requirements ...

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 ...

This article summarizes the treatment of ownership of foreign trust assets; discusses the guidance for reporting a transfer and a donee's receipt of a distribution from a foreign trust, as well as ...

Notwithstanding the Proposed Regulations, the reporting requirements for a U.S. person’s involvement with a foreign trust or receipt of foreign gifts or bequests are cumbersome and complex.

Proposed regulations (REG-124850-08) issued Tuesday by the IRS provide guidance on information reporting of transactions with foreign trusts and the receipt of large foreign gifts. The rules are, in ...

In addition, the proposal expands reporting requirements to more kinds of transactions known as "constructive" transfers and distributions from trusts while filling in more details about exceptions to ...

A Report of Foreign Bank and Financial Accounts must be filed by U.S citizens with financial interests in or authority over certain foreign accounts.

This change introduces new reporting requirements, particularly affecting flow-through entities such as trusts and estates and may require refiling Form W-9.

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 ...