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Reporting Requirements for U.S. Owners and Grantors of Foreign Trusts

The Hiring Incentives to Restore Employment Act ("the HIRE Act"), signed into law by President Obama on March 18, 2010, amended and added provisions of the Internal Revenue Code with the aim of increasing foreign account tax compliance. The provisions of the Foreign Account Tax Compliance Act...

Mexican Land Trust Not a Trust for U.S. Federal Income Tax Purposes

It is not uncommon for Californians to own vacation property in Mexico. The Mexican Constitution prohibits non-citizens of Mexico from owning property within 100 kilometers of the border or fifty kilometers of the coast. To acquire property in Mexico and comply with Mexico's laws, property is placed...

Reporting Requirements for U.S. Owners and Grantors of Foreign Trusts

The Hiring Incentives to Restore Employment Act ("the HIRE Act"), signed into law by President Obama on March 18, 2010, amended and added provisions of the Internal Revenue Code with the aim of increasing foreign account tax compliance. The provisions of the Foreign Account Tax Compliance Act...