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RESOURCES

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ESSENTIAL RESOURCES AND TOOLS FOR NAVIGATING TAX COMPLIANCE

Explore our collection of free guides, checklists and expert insights designed to help accounting and legal professionals navigate complex tax challenges with ease.

ESSENTIAL RESOURCES AND TOOLS FOR NAVIGATING TAX COMPLIANCE

U.S. individuals and domestic entities must report certain foreign financial accounts and investments to the IRS. Depending on your situation, you may be required to file:

 

  • Form 8938 (Statement of Specified Foreign Financial Assets)FinCEN

  • Form 114 (FBAR) (Report of Foreign Bank and Financial Accounts)

 

Click on the link to use this IRS guide to find out which form applies to you.

Foreign Trusts and Gifts

U.S. persons must file Form 3520 to report:

 

  • Certain transactions with foreign trusts

  • Ownership of foreign trusts under Internal Revenue Code sections 671–679

  • Receipt of large gifts or bequests from foreign individuals or entities

 

Click on the link to find out if a foreign gift or inheritance must be reported to the IRS.

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