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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 585
Experience:  10 years experience
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I was just sent this link and you may be able to help. I

Customer Question

JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: I was just sent this link and you may be able to help. I received a distribution from a foreign estate in 2015, but I am late in filing my 2015 taxes along with the declaration of the gift. What is the best way to proceed to avoid the penalties for late filing.
JA: Is there anything else important you think the Accountant should know?
Customer: That's it.
Submitted: 3 months ago.
Category: Tax
Expert:  Mark Taylor replied 3 months ago.

Hi, my name is Mark. I will be happy to help you with your questions. Did you file a form 3520? To abate the penalties you would need to demonstrate reasonable cause. Was there a reason why the returns were filed late?

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