IRS Requests Public Comment on Forms 3520 and 3520-A, Reporting of Foreign Gifts and Trusts
The IRS requested public comment regarding two reporting forms used by taxpayers in reporting for foreign gifts and trusts, Form 3520 and Form 3520-A.
2020: Provided the World Doesn’t End, We’ll Enjoy an Increased Lifetime Gift and Estate Tax Exclusion
Whether society’s collective interpretation of the Mayan calendar proves correct and the world ends in 2020 remains unknown, for now. Despite this
IRS Releases First Guidance Regarding Cryptocurrency Since 2014
On October 9, the IRS released Revenue Ruling 2019-24, which offers the agency’s first cryptocurrency guidance since 2014. As described in our most
The IRS turns its focus to cryptocurrency
On July 26, the Wall Street Journal reported that the Internal Revenue Service has mailed letters to over 10,000 cryptocurrency holders warning that those