United States citizens and residents[i] are subject to federal income tax on their worldwide income. For example, even if a United States citizen permanently relocates to a foreign country, he or she ...

Proposed regulations (REG-124850-08) issued Tuesday by the IRS provide guidance on information reporting of transactions with foreign trusts and the receipt of large foreign gifts. The rules are, in ...

A Report of Foreign Bank and Financial Accounts must be filed by a U.S person with financial interests in or authority over certain foreign accounts. If you’re a U.S. citizen living abroad, it ...

Cross-border asset protection planning involves delicate balancing of ensuring that trusts are properly classified because foreign trusts carry significant and expensive reporting obligations that are ...

On May 7, 2024, the U.S. Treasury and Internal Revenue Service issued proposed regulations that provide guidance regarding information reporting of ownership, transfers to and receipt of distributions ...

In this global economy, it’s becoming increasingly common for U.S. citizens and residents to have financial ties overseas. These financial ties often come in the form of foreign bank accounts, real ...

U.S. filing requirements mean you may also need to file tax forms and returns if you’ve bought, inherited, been gifted, or otherwise acquired assets outside of the U.S. We all know that tax season ...

The decedent, John Rebold, was a U.S. citizen and an oil executive who traveled extensively for work. In 2005, John formed the Enelre Foundation under the laws of Liechtenstein as a “Stiftung,” or ...