IRS is exempting from foreign trust reporting requirements certain tax-favored foreign trusts that are established and operated to provide pension or retirement benefits. Participants in foreign ...

In recent months, the IRS has revised a public announcement and issued a practice unit on IRS Form 3520-A reporting and penalties.

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 ...

Schedule FA (Foreign Assets) in the ITR form is primarily meant for reporting foreign assets, and Schedule FSI (Foreign ...

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 ...

China has unveiled new measures to encourage overseas investors to reinvest their profits within the country, its latest ...

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 ...

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 ...

Here’s all you need to know about the changes SARS has made for the 2025 tax season, including auto assessment expansion and ...

In recent years the IRS has gotten quite aggressive in tracking down any foreign bank accounts and other foreign assets that American citizens may have. Even if the taxpayer fully reports all of th… ...