Home | Blog | US Tax Compliance For Foreign Trusts

Author Archives: Andrew Aldridge

US Tax Compliance For Foreign Trusts

When handling the US tax implications of trusts, particularly non-US trusts, there are a number of issues you must address: Is the entity a trust for US tax purposes? If the entity is a trust, is it a US (domestic) trust or a non-US (foreign) trust? If the entity is a trust, is it a […]

Identity Theft & what the IRS is doing about it

As part of this ongoing effort, the IRS has implemented the Identity Protection PIN Opt-In Program. This program is designed to help protect people against tax-related identity theft. The IP PIN program is now available to anyone who can verify their identity. We encourage our clients to protect themselves through the IP PIN program. The […]

CARES Act with a catch

On the 27th of March the CARES Act (Law No: 116-136) granting each US citizen a $1,200 tax credit ($2,400 for those filing a joint return) to be paid to them as soon as possible. In addition, a $500 credit will be allowed for each qualifying child. To receive this benefit your Adjusted Gross Income […]

New IRS Revenue Procedures for Forms 3520 & 3520A

Please read the updated post Revenue Procedure 2020-17 Explained – Forms 3520 & 3520A The Internal Revenue Service has stated that it intends to issue a Revenue Procedure later this month that will relieve individual taxpayers from filing Forms 3520 & 3520A with respect to certain foreign retirement plans. The IRS has also indicated that individuals who have […]


The IRS is targeting high-income taxpayers who have not complied with their tax obligations. As part of a larger effort to ensure compliance and fairness, the Internal Revenue Service said on February 19th that it will step up efforts to visit high-income taxpayers who have failed to timely file one or more of their tax returns. The IRS has recently hired additional enforcement personnel, […]

Mexit: Potential Tax Issues for the Duke and Duchess of Sussex

The article below was written by USTAXFS Tax Director, Andrew Aldridge, in January 2020. It was first published in and is copyrighted by, Taxation magazine. The recent announcement by the Duke and Duchess of Sussex to step back from their ‘senior’ royal status has brought back into focus that the duchess is a US citizen. When […]

TCJA final regulations

The Tax Cuts and Jobs Act (TCJA), enacted in December 2017, increased the life-time exclusion amount of transfers subject to Estate/Gift tax from $5 million to $10 million. Adjusted for inflation, this amount is $11.4 million in 2019. The TCJA also provides that this higher amount will revert to its pre-TCJA amount after 2025. The […]

Back to the top

Here to Help

Here to Help

Contact one of our specialists

US Tax & Financial Services Ltd
3 Harbour Exchange Square
London E14 9GE
United Kingdom

T: +44 20 7357 8220

F: +44 20 7357 8225

Email Us

US Tax & Financial Services Sarl
Brandschenkestrasse 20
CH-8001 Zurich

T: +41 44 387 8070

F: +41 44 387 8079

Email Us

US Tax & Financial Services Sarl
Rue de Candolle 19
CH 1205

T: +41 22 700 2500

F: +41 22 700 2526

Email Us

Middle East, Asia and the Americas
US Tax & Financial Services GmbH
Löwenstrasse 28
PO Box 1367
CH-8021 Zurich

T: +41 44 387 8070

F: +41 44 387 8079

Email Us

US Tax & Financial Services Ltd / MAJATTORNEY
Norra Skeppsbron 5B
SE 803 10, GAVLE

T: +46 26 18 82 22

M: +46 70 61 88 016

Email Us

Read Services in :EnglishFrenchItalianGerman