The Treasury Department's Financial Crimes Enforcement Network (FinCEN) Form 114, the Report of Foreign Bank and Financial Accounts—colloquially known as FBAR—has become famous due to…
U.S. Tax Residency
Some Black-and-White Rules, Some Gray
When advising taxpayers or preparing returns, bright-line rules are generally the easiest to explain and to handle. In contrast, tax outcomes that depend on facts…
Form 3520 is an information return for a U.S. person to report certain transactions with foreign trusts [as defined in Internal Revenue Code (IRC) section…