Admin

login | register

How competitive are you at different Law Schools?

Enter your LSAT and GPA scores and find out!
GPA: out of 4.0
LSAT: out of 180

Student Resources

Personal Statement Editing
LSAT Prep
Law School Loans
Student Health Insurance
Law School Rankings
Law School Search
FREE Law School Outlines
Legal Forums arrow Legal Forums
Legal Forums
Welcome, Guest
Please Login or Register.    Lost Password?
Legal Forums Attorneys
Tax law (1 viewing) (1) Guest
Post a new message in "Tax law"
Name:
Subject:
topic icon:
no
Boardcode:
 Colour:  Size:   Close all tags
Message:

Emoticons
B) :( :) :laugh:
:cheer: ;) :P :angry:
:unsure: :ohmy: :huh: :dry:
:lol: :silly: :blink: :blush:
:kiss: :woohoo: :side: :S
More Smilies
 Enter code here   

Topic History of: Inheritance from a foreigner
Max. showing the last posts - (Last post first)
Author Message
sbaco My mother inherited about $75,000 in 2005 form her mother in the UK. I checked with my mother and reviewed her tax return and she did not file form 3520. So, we asked her taxpreparer why she did not file form 3520 and the taxpreparer said she was not aware of the form. The taxpreparer said she would amend my mother's tax return and add that form.

My question is: if my mother amends her return to add form 3520 will that cause her to get audited? What is the penalty for not filing this form? What should i have my mother do?

Thank you.
Miami LS Inheritances are not taxed, but if you receive an inheritance from a decedent in another country then you need to report the receipt of property on Form 3520 (i.e. Receipt of Foreign Gifts) and attached the form to your income tax return.

I would definatley contact an attorney in the foreign country and make sure that the property is transferring un-encumbered so you dont have problems later.

Interesting issue, doesnt happen that often. But now with every transfer of money being suspect of a crime or helping terroisim, you want to make sure that you report it properly.


Good luck.
C. Lochen Client is to receive money from a relative overseas. Are there any taxes on the receipt of an inheritance? The money s coming from Poland ~ $115k. Should the client hire an attorney in Poland to make sure that there are no taxes due on the Polish end?

I dont think there are any taxes on inheritances, but i wanted to make sure. Thanks in advance,

Regards,

C. Lochen
Powered by FireBoardget the latest posts directly to your desktop
 

LegalNut Resources

Attorney jobs listings and sites with attorney salary information, attorney job search functions, and salaries by law firm.

Law school rankings show how competitive your lsat scores would be at top law schools in the US.

Law school admissions advice is available both at the LSAT forum and throughout the pre-law section, including LSAT prep options, law school personal statement help, LSAT score distributions and law school bar exam pass rates.

Polls

What did you score on the LSAT (anonymous)
 
How did you prep for the Dec. LSAT?
 
Copyright © 2006 - 2009 Rochester Ideas, LLC. All rights reserved.