Posted on : December 22, 2018||Form 3520, Form 3520-A, Form 8865, Form 8938, Form 926, International Information Returns, Uncategorized
The United States taxes its citizens and residents on their worldwide income. The Internal Revenue Service requires U.S. taxpayers to file information returns concerning foreign assets, accounts, and transactions. I have recently posted articles on several of them, as follows:
Form 5471 and Closely-Held Foreign Corporations
U.S. Taxpayers’ Interests in Foreign Financial Accounts Reported on Form 8938
Forms 3520 and 3520-A and the Grantor Trust Rules
U.S. Taxpayers’ Interests in Foreign Partnerships Reported on Form 8865
Taxpayers are subject to substantial civil penalties for failure to file international information returns. Taxpayers with delinquent international information returns should file them as soon as possible.
Enjoy!