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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...

FBAR Filing: When to Do It and How to Do It

There are many advantages to living overseas – personal, professional, and financial – all of which are worth exploring for those from all walks of life. However, transitioning from a domestic American citizen to a U.S. taxpayer living outside the U.S....

What You Need to Know About Pensions as a US Expat

Staying compliant with American tax laws is often a burden for American expatriates. This is especially true for expats that are dealing with taxes associated with their pension plan. If a U.S. expat is planning to retire abroad or you are eventually planning to...
6 Common Taxpayer Mistakes