Has the IRS Updated Foreign Gift Penalty (3520) Enforcement Procedures At the close of 2024, the then-acting IRS Commissioner of the Internal Revenue Service made a statement that the IRS intends to change the method for assessing 6039F (Form 3520) penalties for failing to report foreign gifts. Unlike various other types of international information reporting […] The post Has the IRS Updated Foreign Gift Penalty (3520) Enforcement Procedures? appeared first on International Tax Lawyers - IR...
