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Robin, I have a few questions on filing F3520. If my wife
Hi Robin,I have a few questions on filing F3520. If my wife and I file tax return jointly and either of us received international gift valued more than 100k. Shall we file F3520 together or seperately… read more
Barbara
Barbara
Enrolled Agent, Paralegal
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Do I have to file 3520 form if I received a gift higher than
Hello, do I have to file 3520 form if I received a gift higher than $100,000 from my parents who are non-citizen? Is there any penalty for failing to file the form because I did not know about it?… read more
Carter McBride
Carter McBride
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I failed to 3520 form for 201y6. money receiver 2015, Father
I failed to 3520 form for 201y6. money receiver 2015 … read more
Barbara
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I just found out that I may have to file form 3520. I was
Hi, I just found out that I may have to file form 3520. I was not aware of that last year when i got a gift from my parent oversees. The IRS gift tax estate code did mention special filing for foreign… read more
Mark Taylor
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What happens if I file late 3520 form simply because I do
what happens if I file late 3520 form simply because I do not know about it … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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I am just doing my taxes and I see that I failed to file
Hi, I am just doing my taxes and I see that I failed to file form 3520 last year. … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,606 satisfied customers
If someone is recieving 3.4 million dollars as a gift from
If someone is recieving 3.4 million dollars as a gift from an overseas non US resident, does the recipient or gift giver have to pay any taxes.… read more
Megan C
Megan C
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Hi Lev, I need tax advice about my "Delinquent Form 3520
Hi Lev, I need tax advice about my "Delinquent Form 3520 filing". You have recently answered my question about "Delinquent FBARs filing". At that time you did touch upon the issue of Form 3520 filing.… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,814 satisfied customers
Hi received 160k form a relative in the uk as a gift in december
Hi received 160k form a relative in the uk as a gift in december 2013. do I have to file a 3520 form? also is there a penalty? ( not a trust or loan just a gift)… read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,453 satisfied customers
Hi. I am a US citizen living in India for the past 8 years. I have not been filing any tax
Hi. I am a US citizen living in India for the past 8 years. I have not been filing any tax returns since 2008 because I am not employed in any capacity and my only income is from interest which is bel… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,606 satisfied customers
We received a gift > $100,000 from the UK in 2012. We disclosed
We received a gift > $100,000 from the UK in 2012. We disclosed this new account on form 8938 when we filed our 2012 taxes last year as well as on TD F 90-22.1 But we did not file 3520. This year t… read more
CFEPro789
CFEPro789
Fraud Analyst
Master's Degree
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Dear Tax Professional, If a US taxpayer received a gift
Dear Tax Professional, If a US taxpayer received a gift more than $100k from his foreign spouse, does he need to report form 3520? Are there any additional procedures or forms he must report? Assuming… read more
Tax.appeal.168
Tax.appeal.168
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I inherited a property in Germany in 2012 and sold it in 2013.
I inherited a property in Germany in 2012 and sold it in 2013. I am declaring a foreign bank account on my tax return (form 8938), but just discovered the existence of form 3520, that I was not aware … read more
Tax.appeal.168
Tax.appeal.168
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I received a $150,000 gift from my parent last year and $120,000
I received a $150,000 gift from my parent last year and $120,000 this year. I haven't reported anything to the IRS yet (never submit form 3520). I am planning to report it on this year's tax return. F… read more
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what happens if you file late 3520 form simply because you
what happens if you file late 3520 form simply because you do not know about it (nobody advised you to do so)? Can the penalty be waive?… read more
Stephen G.
Stephen G.
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In 2010 my father that lives in Europe ( n; on USA Citizen)
In 2010 my father that lives in Europe ( n; on USA Citizen) donated me more than 100,000$ as gift . I am a US permanent resident I know that the money is not taxable but I didn't present the Form 3520… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,814 satisfied customers
My aunt gifts me property overseas, (I am a US citizen, she
My aunt gifts me property overseas, (I am a US citizen, she is not in any form) do I have to report the property as a gift or does it count as property owned overseas which isn't a reportable act UNTI… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,814 satisfied customers
If you receive an inheritance from overseas (not from an ...
If you receive an inheritance from overseas (not from an offshore trust and for less than $200,000) do you have to report it to the IRS and if so would you owe taxes on it?… read more
Bill
Bill
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Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

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