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ANNEXURE II Form for Claim of Drawback under Rule 13 Customs Cbec Gov

ANNEXURE II Form for Claim of Drawback under Rule 13 Customs Cbec Gov

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hi everyone this is parag Patel reporting on the recent uh case where the U.S Department of Justice tax division basically conceded and reduced a penalty on a form 3520 filing so uh specifically form 3520 deals with our taxpayers and clients that report foreign gifts received and it's a very common form and it's also very common that people get assessed penalties for failure to file the form in this case we had a popular known as the Polish Lottery case because in this case we had a Mr rizinski a Polish American citizen who failed to file the form 3520 he was lucky enough that his mother won the lottery in 2010 and 11. and then his mother gifted him eight hundred and thirty thousand dollars over 2010 and 2011. um his accountant uh erroneously advised him that while uh that that he didn't have to report the existence of the uh foreign inheritance the accountant interestingly correctly advised him that it's not subject to income tax but erroneously advised him that no filings were requir

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