Extension Granted for Gift Tax Returns and Payments – No Extension for Form 3520

My earlier blog post detailed the extensions for filing and payment of US income taxes on account of the COVID-19 emergency.  Further relief was just granted on March 27 by the Internal Revenue Service (IRS) in Notice 2020-20 to all taxpayers who have Federal gift (and generation-skipping transfer) tax returns and payments due on April … Continue reading Extension Granted for Gift Tax Returns and Payments – No Extension for Form 3520

Americans Abroad: October 15 Tax Filing Deadline – Not Ready? Don’t Panic

US persons living and working overseas often find it more difficult to meet the deadlines for their tax returns. This is so because they may have foreign financial assets that require a more extensive tax analysis to prepare the return. Just think about the work required to figure out the “transition tax” or “deemed repatriation … Continue reading Americans Abroad: October 15 Tax Filing Deadline – Not Ready? Don’t Panic