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What Are the Penalties for Not Filling Out IRS Form 3520?

Beneficiaries of offshore trusts or recipients of gifts from foreign individuals or estates can struggle when trying to understand the tax ramifications of notifying the IRS.  There are several filing requirements that are relatively new and not well understood...

Where is Your Tax Refund?

Navigating tax season can be overwhelming for all taxpayers. With so much paperwork and stress, finally filing can cause a sense of relief. But after a few weeks, you may start to wonder where your tax refund is. Knowing how to locate your tax refund is crucial for...

What Is the Difference Between Form 3520 and 3520-A?

If you are the recipient of assets with significant value from a foreign source, such as a trust or an inheritance, you won’t be surprised to hear that the IRS requires a certain amount of disclosure.  This disclosure comes in several forms, but the two...
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6 Common Taxpayer Mistakes