Generally, U.S. citizens and residents who own or are deemed to own an interest in a foreign trust under the grantor trust rules (i.e., secs. 671 through 679) are responsible for ensuring that an IRS ...
Forbes contributors publish independent expert analyses and insights. Matthew Roberts is a tax attorney who covers tax litigation and fraud. To combat late information return filings, the IRS has ...
The IRS has been closely examining the accurate and timely reporting of foreign gifts and distributions to and from foreign trusts. As part of this effort, the Large Business and International ...
Interests in or transactions with foreign trusts can cause headaches for federal income tax purposes. Depending on the interest or transactions at issue, U.S. citizens or residents may have to file a ...
The IRS has recently notified the AICPA’s Foreign Trust Task Force that the IRS plans over the next few months to send out letters to taxpayers who filed Form 3520, Annual Return to Report ...
(MENAFN- Khaleej Times) The author is managing director of Dubai-based Rayad Group, which advises families and institutions on establishing and structuring operations internationally. For generations, ...
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