Author Archives: Tasleem Meghani
What does it mean to be a beneficiary of a trust?
Please note this post was updated on January 23, 2024 to include figures for 2024 for the 2023 tax season. A trust is a legal arrangement where the creator of the trust (called either a grantor or settlor) transfers legal title to property to a trustee to manage for the benefit of individual(s) or entities […]
US Owners of foreign personal pension plans
US taxpayers often participate in foreign pension plans as these can be useful, tax preferred, investment tools in the jurisdiction where they are tax resident. Complexities arise with how these plans are reported to the IRS, especially considering the substantial US tax penalties associated with non-compliance. What is a Foreign Private Pension Plan? Pension plans […]