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Hi: JA: The Accountant will know...
Hi:
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: 10 months ago.Category: Tax
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Answered in 7 minutes by:
1/4/2017
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 10 months ago
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2,338
Experience: Certified Public Accountant
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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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