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Attorney-Client Privilege is the Best Protection You Have When Dealing with the IRS

Whenever you are dealing with the IRS the Attorney-Client Privilege is the best protection a US taxpayer can employ.  The Attorney-Client Privilege protects all information shared in confidence between a taxpayer and their attorney.  This extends to all paperwork, notes, personal papers, cell phone calls, emails and even texts.  The...

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...