Foreign trust reporting (IRC §6048; §6677) US persons who create, transfer property to, or receive distributions from foreign trusts must report under Form 3520. Foreign trusts with US owners may ...

New Nottingham Forest boss Vitor Pereira speaks to the media for the first time since replacing Sean Dyche at the City Ground ...

The IRS has an interest in U.S. taxpayer transactions overseas. Therefore, it is no surprise that Congress has enacted numerous federal tax reporting laws that require individuals to prepare and file ...

The IRS continues to aggressively enforce certain foreign information return obligations. In many cases, these enforcement efforts are automatic—that is, the agency simply imposes the applicable ...

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 ...

The American Institute of CPAs sent comment letters to the Internal Revenue Service requesting changes in two forms used to report on foreign trusts, along with more guidance on energy tax credits and ...

Traditionally, claims related to tax services are the most frequent type of malpractice claim asserted against CPA firms. While that is unwelcome news for tax preparers, most tax claims are not as ...

Update DB connector creation to only show unlinked datasets. This helps prevent errors due to a legacy unique constraint on the DatasetConfig.fides_key column. When editing update the dataset dropdown ...

The starting point with foreign trust reporting should determine what the statute is and what corresponding IRS form. As with most international information reporting forms, the first part of Form ...

With a grantor trust, the grantor is still considered the owner of the trust for tax purposes. In a perfect world, the foreign trust will provide the US beneficiary with a K-1 or equivalent so that ...