What do Form 3520 and 3520-A penalties actually look like in dollars? Trying to size my exposure
I'm reconstructing several years of foreign trust filings I didn't know I owed — I moved to the US three years ago with a family trust in the background. Before I talk to a professional I want to understand the worst case in actual numbers. I've seen '$10,000 or 35%' and '5% per month' quoted in different places and I can't tell which applies to what. Can someone lay out the math by failure type?
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