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Investment in a Foreign Trust Creates Complex Reporting Requirements

The IRS has clearly identified legitimate reasons why "US Persons" would establish or maintain ownership in a foreign trust.  However, there are significant and complex tax reporting requirements associated with US taxpayers who are beneficiaries with an investment in a foreign trust.  There are specific transactional reporting requirements for those...

FBAR Preparation and Filing to Ensure Compliance

Allen Barron provides extensive tax expertise and assistance with FBAR preparation and filing to ensure compliance with all IRS requirements.  If you have offshore bank accounts, investments, assets or own or control a portion of a foreign corporation you must be in full compliance with the IRS or face a...

Californians with Foreign Investments and Property Need a Tax Attorney Not Just a CPA

Californians with foreign investments and property need a tax attorney and not just a CPA. Californians represent the largest portion of US taxpayers with previously unreported Swiss financial accounts, offshore investments and corporate ownership.  The complexities of taxation for foreign accounts and assets have significantly increased over the past several...