The IRS Form 1040 is the primary document used by taxpayers in the United States to file their annual income tax returns. It serves as a comprehensive summary of your financial year, detailing all ...

A view of an IRS 1040 Tax Form on a Laptop computer screen being prepared for an electronic filing. The 2023 tax filing season is in full swing. Taxpayers and tax preparers are currently meeting to ...

Federal tax law requires U.S. persons to report their receipt of foreign gifts or inheritances. IRS Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign ...

Congress enacted Section 6038B as part of the Deficit Reduction Act of 1984. Under section 6038B, U.S. persons must file an information return for any tax year in which they transfer property to a ...

U.S. persons who invest in foreign activities often have U.S. reporting obligations. A common international reporting requirement for many U.S. persons is IRS Form 5471, Information Return of U.S.

Forbes contributors publish independent expert analyses and insights. Matthew Roberts is a tax attorney who covers tax litigation and fraud. Of all the international information return obligations, ...