When trusts are used as estate planning tools, financial institutions such as banks and brokerages may require written documentation of the trust’s existence before transferring assets into a trust or ...

The IRS has been closely examining the accurate and timely reporting of foreign gifts and distributions to and from foreign trusts. As part of this effort, the Large Business and International ...

The American Institute of CPAs sent comment letters to the Internal Revenue Service requesting changes in two forms used to report on foreign trusts, along with more guidance on energy tax credits and ...