Mel Whitney
- Non-resident taxation
- Real estate taxation
- Tax optimization
- Bachelor of Science in Business Administration
- Humboldt State University
Articles
How to report foreign assets to IRS: Form 8938 vs 3520 vs 5471 vs 8865
US citizens and green card holders living abroad may need to file up to eight separate IRS and Treasury forms each year to report foreign assets held offshore, including accounts, entities, trusts, and gifts. Foreign asset reporting is separate from paying US tax, and most expats owe little or nothing federally but still have to file these disclo...
Form 8275: The unsung hero of tax disclosure
When it comes to tax returns, sometimes the best offense is a good defense. That&...
How to determine the maximum account value for FBAR
The FBAR maximum account value is the highest balance in each foreign financial account at any point during the calendar year – not the December 31 closing balance – converted to USD using the Treasury Reporting Rates of Exchange for December 31 of that year. This 2026 FBAR article will cover a step–by–step metho...
FATCA penalties: what happens if you fail to report foreign assets?
FATCA penalties for individuals usually mean Form 8938 penalties, not a separate penalty schedule for every foreign account. If you were required to file Form 8...
Form 3520 late filing penalty relief: abatement, reasonable cause, and what to do next
Quick answer Form 3520 late filing penalties can be severe – up to 25% of an unreported foreign gift or bequest, or up to 35% of unreported foreign trust transactions. ...