[Written on December 20, 2011.] Warning Shots, Pre-Emptive Strikes, and Other Cautions to Internet Scholars You’d be a damn fool to rely on this as legal advice. I’ve been wrong many times before, and this might be wrong, too. Go hire some smart tax lawyer or tax accountant to figure out what’s going on with [...]

Besides the FBAR (the Report of Foreign Bank and Financial Accounts, Form TD F 90-22.1, warning it is a PDF) the single most “oops I forgot” form that I see for regular human being clients is Form 3520. Gifts received from nonresidents aren’t reported properly. Or at all. Something tells me (warning! PDF) that the [...]

The IRS published the latest in its missives assailing the infernal international tax gap, this one about reporting gifts received from foreign sources. Translation: file that Form 3520 (PDF). Minimums? Receiving $100,000 or more from an individual, or $13,528 or more via an entity (like a corporation or partnership). Instructions to Form 3520 (PDF). There [...]

The TaxProf blog has a recent post about expatriation. The TaxProf refers to a recent academic paper on the topic, which you can download here. It’s always interesting to see the academic perspective on something that I do, y’know, for money. Expatriation is mostly estate tax driven Giving up U.S. citizenship–when it is tax driven–is [...]