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How to file Form 3520?
Hi we filed as married jointly for tax year 2017 under my spouse's name. We just found out that we might need to file form 3520 as well.
Our questions are:
1. Do we need to file 1040X as well? or just submit Form 3520 separately to IRS?
2. Since it has already past tax extension deadline(10/15/2018), do we need to pay any penalty to IRS?
Your help is greatly appreciated!
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How to file Form 3520?
A Form 3520 is filed separately from your tax return.
The 3520 is most often filed when you receive a gift from a foreign person in the amount over $100,000.
IRS Form 3520 - https://www.irs.gov/pub/irs-pdf/f3520.pdf
IRS Form 3520 instructions - https://www.irs.gov/pub/irs-pdf/i3520.pdf
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How to file Form 3520?
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How to file Form 3520?
Just note the 3520 is an informational form only and has no bearing on a tax return.
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How to file Form 3520?
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How to file Form 3520?
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How to file Form 3520?
We have eFiled our 2019 tax return, and I am now completing form 3520. The form is asking me the name of the service center where my tax was submitted. I eFiled my report through Turbo Tax, how can I determine the center that is handling my return?
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