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The IRS can certify tax debts above $62,000 to the State Department, which can deny or revoke your passport. Here is how the rule works and how to fix it.
Missing Form 3520-A triggers penalties starting at $10,000 or 5 percent of trust assets per year. Here is how the penalty works and the paths
A foreign relative can name you in their trust. The U.S. tax bill that follows depends on timing, structure, and whether anyone planned for the
A foreign trust is not always called one. Here is the legal definition, the forms it triggers, and how to find out if you have
Not for the receipt. For the failure to report. The receipt is tax-free; the missing Form 3520 is what generates the penalty. Here is how
Late Form 3520 filings trigger automatic penalty assessment. Most can be abated under reasonable cause. Here is the path from penalty notice to abatement.
Form 3520 reports four very different international transactions and carries some of the heaviest information return penalties in the Code. Here is what each part