International Tax Guru Jack Brister, founder of International Wealth Tax Advisors, to Appear as Anchor Panelist in Upcoming Webinar on Foreign Trust Tax Reporting
Even the seasoned accounting professional can get stymied by foreign trust reporting and the correct filing of Form 3520. Foreign trust and cross-border tax expert Jack Brister joins legal experts in a live webinar detailing the quirks and specificities of foreign trust compliance.
New York, NY, October 5, 2021 Industry-renown international tax and foreign trust expert Jack Brister, EA, MBA, TEP, will lend his expertise at a live, CPE-eligible webinar for finance and legal industry educator Strafford entitled, “Form 3520: Reporting Foreign Trust Activities on U.S. Beneficiaries’ Income Tax Returns.” The immersive webinar will cover the identification of filing obligations, how to complete form 3520, DNI planning after mid disallowance, and avoiding throwback tax. Interested professionals can sign up for the webinar directly on the Strafford website.
Even the seasoned accounting professional can get stymied by foreign trust reporting and the correct filing of Form 3520. Says Jack Brister, “Any information not provided or incorrectly presented can mean significant tax penalties ranging from 25% of the value of the trust to 35% of a distribution received. “
Join Jack Brister and a leading panel of legal and financial experts as they take a deep dive into the quirks and specificities of foreign trust compliance and the infamous IRS Form 3520.
When: Monday, October 19, 2021, 1PM – 2:50 PM, EDT
Where: Livestreamed by Strafford. See https://b.link/strafford1021 for details.
What: Topics covered will include but not be limited to:
- Determining owners and responsible parties
- What “reportable events” trigger a Form 3520 filing requirement?
- DNI calculations and distribution strategies
- Completing Form 3520
- What are the penalties and relief provisions for failure to file a Form 3520 or Form 3520-A?
- What is the overlap between Form 3520 and other foreign information reporting requirements such as Forms 5471, 8865, 8621, and Schedule B?
- Throwback tax
- IRC Section 6677 penalties for failure to file and relief provisions
- What are the filing requirements for the U.S. beneficiary of a foreign non-grantor trust?
- What are the processes for establishing a reasonable cause exception for penalty abatement?
About International Wealth Tax Advisors
International Wealth Tax Advisors (IWTA) specializes in mitigating U.S. taxes and solving highly-sophisticated cross-border tax issues. Working with clients’ offshore and domestic wealth structures, we strategically pinpoint the intricacies and weaknesses of U.S. and foreign tax systems to minimize loss of wealth and profits.
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