2018 Tax Changes

New rules have been introduced by IRS through Rev Proc 2020-17. In this notice, owners of certain foreign trusts, and specifically Registered Education Savings Plans (RESP) are no longer required to file forms 3520 and 3520A.

Further if a penalty was assessed or paid for failure to comply with these rules within the past three years, there is now a procedure to have that penalty abated or refunded.

See this for more information: https://serbinski.com/reporting-relief- ... 3520-3520a
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Mark T Serbinski CA CPA
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2018 Tax Changes

Post by Mark T Serbinski CA CPA » Thu Jan 24, 2019 6:57 pm

With the introduction of the Tax Cuts and Jobs Act, tax filing rules for 2018 have substantially changed.

We have outlined some of the major changes here:

https://serbinski.com/2018-tax-cuts-and ... al-changes
Mark

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