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 ...

In the federal income tax world, there are effectively two functions within the Internal Revenue Service (“IRS”). First, the IRS examines tax years and tax returns to determine whether the taxpayer ...

A grandparent established a trust in Canada, with U.S. resident grandchildren as beneficiaries. No one advised the family that U.S. law requires annual reporting of foreign trusts on Form 3520-A and ...

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 ...