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 ...

Taxpayers that are out of compliance with the timely and accurate filing of information returns reporting ownership of and transactions with Foreign Trusts face “apparent” IRS audit risk.

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 ...

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 ...

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 ...

The IRS announced on Tuesday that it is suspending the information reporting requirements for certain individuals with foreign assets and shareholders of passive foreign investment companies (PFICs) ...

WASHINGTON—The Internal Revenue Service in coming days will release a new information reporting form that taxpayers will use starting this coming tax filing season to report specified foreign ...

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, certain foreign trusts set up within five years of the date the foreigner becomes a U.S. resident become subject to additional reporting under Section 679.