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    0 Replies Latest reply on Jan 21, 2010 7:52 PM by cpaglobaltax

    Foreign inheritance and US tax

    cpaglobaltax Newbie
      If you received or are likely to receive gift or inheritance from your foreign relatives, be sure to comply with the US tax laws. Non compliance may result in heavy penalty. There is also a a foreign bank account reporting requirement and IRS is becoming strict in making the taxpayers compliant. You can avoid paying penalty for non compliance by timely filing these Forms.

      CPA Global Tax & Accounting PLLC