Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
I have a question about form 5471. I just accidentaly found
Hello I have a question about form 5471. I just accidentaly found out that I might have to file this form. I am a EU citizen and stay here in the US under E2 Visa holder. I have foreign company in Eur… read more
ALEX O
ALEX O
Partner O & G Tax
Master's Degree
1,501 satisfied customers
I just made aware that I need to fill out a 3520 form for
Hi Pearl, I just made aware that I need to fill out a 3520 form for foreign transactions to my account over 100k a year... But the transactions were made in 2017 and 2018... May I know if I can still … read more
Barbara
Barbara
Enrolled Agent
16,682 satisfied customers
I received a 120,000$ gift from my parents who are not US
Hello! I received a 120,000$ gift from my parents who are not US citizens. I just found out that I had to fill out a form notifying IRS about the gifts over 100,000$. They said that gifts from foregin… read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
1,195 satisfied customers
I need to ask questions about penalty abatement for late
Hi, I need to ask questions about penalty abatement for late filing form 3520, thank you. … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
7,247 satisfied customers
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
16,682 satisfied customers
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 $100,000 from my parents who are non-citizen? Is there any penalty for failing to file the form because I did not know about it?… read more
Carter McBride
Carter McBride
LLM
5,008 satisfied customers
My parents are foreigners. They want to transefer money(more
Hello! My parents are foreigners. They want to transefer money(more than 30000$) from overseas to their bank account in US, then gift the money to me. I wonder I shall file form 3520 or form 709 for t… read more
Tax.appeal.168
Tax.appeal.168
Principal
7,814 satisfied customers
I was unaware of requirement to file Form 3520. I received
Hello:I was unaware of requirement to file Form 3520. I received cash gifts from foreign persons (parents) in 2016. I have not been contacted by IRS; have no previous under or unreported tax liabiliti… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
20,197 satisfied customers
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
Mark Taylor
Certified Public Accountant
Masters
2,539 satisfied customers
Is not knowing you need to file a form 3520 for foreign
Is not knowing you need to file a form 3520 for foreign gifts enough to establish reasonable cause? Plan to voluntarily disclose after finding out the requirement. I did my taxes myself on Turbo Tax, … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,539 satisfied customers
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
20,197 satisfied customers
I was just sent this link and you may be able to help. I
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. … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,539 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
16,682 satisfied customers
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
Principal
7,814 satisfied customers
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
Principal
7,814 satisfied customers
Hello, I plan to buy a house. My parents who are residents
Hello, I plan to buy a house. My parents who are residents and citizens of Russia want to help me with down payment and would like to give me some amount of money as a gift. There is no gift tax in Ru… read more
Tax.appeal.168
Tax.appeal.168
Principal
7,814 satisfied customers
My son and I received USD$150,000 from non US resident parents
My son and I received USD$150,000 from non US resident parents in 2010. The fund was transferred to my US bank account as my son is a minor. The fund was used to reduce the mortgage. My parents gave m… read more
socrateaser
socrateaser
1,519 satisfied customers
I have received a gift of over 100,000 in 2009 from a foreign
I have received a gift of over 100,000 in 2009 from a foreign individual, and just found out that I need to file form 3520 to report the gift. There is a high penalty involved in the late reporting, b… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
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.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

5,614 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

471 satisfied customers

B.A., M.B.A, J.D.

Loren

Loren

Attorney

96 satisfied customers

Over 25 years practicing law

Robin D.

Robin D.

Senior Tax Advisor 4

20,197 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,666 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

< Previous | Next >

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.

Show MoreShow Less

Ask Your Question

x