IRS sending soft letters to encourage compliance with foreign trust reporting

Practice Area:  Withholding & International Individual Compliance

Lead Executive: John Cardone, Director, WIIC

Campaign Point of Contact: Robert G. Davis

This campaign will take a multifaceted approach to improving compliance with respect to the timely and accurate filing of information returns reporting ownership of and transactions with foreign trusts. The Service will address noncompliance through a variety of treatment streams PDF including, but not limited to, examinations and penalties assessed by the campus when the forms are received late or are incomplete.