Sherayzen Law Office, Ltd. (the “Firm”) is a leading international tax law firm in Minneapolis, Minnesota. Among its core practice areas is US tax law concerning foreign trusts. Mr. Eugene Sherayzen, a Minneapolis Foreign Trust Lawyer, is a highly knowledgeable international tax attorney and the owner of the Firm. He has extensive experience in US tax compliance concerning foreign trusts, including offshore voluntary disclosures involving a beneficiary interest in or ownership of a foreign trust.
A professional team of accountants and staff supports this Minneapolis Foreign Trust Lawyer in order to provide a complete package of services to the Firm’s clients.
Minneapolis Foreign Trust Lawyer: Foreign Trusts Are Associated With High Risk of IRS Penalties
US tax compliance concerning foreign trusts is highly complex and filled with pitfalls for the unwary; in fact, it is simply unimaginable how an ordinary taxpayer can stay in US tax compliance without the professional help of a Minneapolis Foreign Trust Lawyer. The IRS has also been relentless in its desire to assert noncompliance penalties for foreign trust noncompliance.
The combination of enormous legal complexity and the IRS severe treatment of non-compliant taxpayers means that US taxpayers who are beneficiaries or owners of a foreign trust face high risks of IRS penalties in this area of law. This is why it is essential for such US taxpayers to secure the help of Sherayzen Law Office and its Minneapolis Foreign Trust Lawyer as soon as possible.
Minneapolis Foreign Trust Lawyer: Summary of Services Concerning Foreign Trusts
As a Minneapolis Foreign Trust Lawyer, Mr. Sherayzen and the Firm provide the following services:
1. Annual Compliance for Foreign Grantor Trusts, including the filing of Forms 3520 and 3520-A. These services are provided to US grantors, US beneficiaries and the foreign trustees. We also prepare and file annual tax returns (Forms 1040, 1065, 1120-S and 1120) for US persons;
2. Annual Compliance for Foreign Non-Grantor Trusts with US Beneficiaries, including the filing of Forms 3520, 8621, 8938 and other relevant forms. We also prepare and file annual tax returns (Forms 1040, 1065, 1120-S and 1120) for US Beneficiaries;
3. Offshore Voluntary Disclosures Concerning Ownership of or a Beneficiary Interest in a Foreign Trust to remedy past failures to comply with US tax laws;
4. IRS Appeals of Form 3520, 3520-A and 8938 Penalties in situations where Offshore Voluntary Compliance is no longer an option; and
5. Tax Planning Concerning Foreign Trusts, including business trusts.
Minneapolis Foreign Trust Lawyer: Voluntary Disclosure of Foreign Trusts
Our Firm has helped numerous taxpayers around the globe with the voluntary disclosure of foreign trusts. In fact, Sherayzen Law Office has helped its clients with every major Offshore Voluntary Disclosure Program, including 2009 OVDP, 2011 OVDI, 2012 OVDP, 2014 OVDP, Streamlined Domestic Offshore Procedures, Streamlined Foreign Offshore Procedures and Delinquent International Information Return Submission Procedures. Prior to 2009 and during 2009-2010, we have also completed a number of Traditional Voluntary Disclosures. Additionally, Sherayzen Law Office has helped numerous taxpayers complete their Reasonable Cause voluntary disclosures, including those involving foreign trusts.
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