The IRS has published a private letter ruling on IRC §2601 stating that the proposed merger of the taxpayer’s exempt trust into his spouse exempt trust will not affect the ...

The IRS has published a private letter ruling on IRC §1295 and Treas. Reg. §1.1295-3(f), granting the taxpayer consent to make a retroactive qualified electing fund (QEF) election with respect ...

President Donald Trump signed into law P.L. 119-21, the “One Big Beautiful Bill Act” (OBBBA), enacting significant changes to the US ...

Originally due on July 31, 2025, the date for filing the income tax return has been extended to September 15, 2025. According ...

Schedule FA (Foreign Assets) in the ITR form is primarily meant for reporting foreign assets, and Schedule FSI (Foreign ...

In recent months, the IRS has revised a public announcement and issued a practice unit on IRS Form 3520-A reporting and penalties.

Foreign trust reporting obligations can apply to a domestic trust established even within the US and the recent regulations make compliance more difficult.

AI Lack of IRS transparency on AI jeopardizes public trust, advisory panel says The agency has lost more than 25% of its workforce since the beginning of the Trump administration, per the Taxpayer ...

As a non-resident, transferring foreign assets into a foreign trust will not trigger any tax liability for you in India.