Oral Arguments In Rost v. United States - Before United States Court of Appeals, Fifth Circuit - July 6, 2022

<p>Issues: Foreign Trusts - Failure To File Form 3520 and 3520A</p> <p>The facts from the ruling:</p> "Opinion <p class="docket">21-51064</p> <p class="docDate">08-11-2022</p> <p class="caption">Daphne Jeanette Rost, Executor of the Estate of John H. Rebold, Plaintiff-Appellant, v. United States of America, the Internal Revenue Service, Defendant-Appellee.</p> <p class="byline">STUART KYLE DUNCAN, CIRCUIT JUDGE</p> <p class="paragraph">Appeal from the United States District Court for the Western District of Texas USDC No. 1:19-CV-607</p> <p class="paragraph">Before SMITH, DUNCAN, and OLDHAM, Circuit Judges.</p> <p class="paragraph">STUART KYLE DUNCAN, CIRCUIT JUDGE</p> <p class="paragraph">In 2005, John Rebold formed the Enelre Foundation as a Stiftung under the laws of Liechtenstein. Stiftung is a German word meaning, roughly, "foundation" or "endowment." Enelre's purpose is to provide education and general support for Rebold and his children. Rebold transferred $3 million to Enelre's bank accounts. He later learned the IRS would consider Enelre a "foreign trust," triggering certain reporting requirements. Rebold belatedly filed the reports, and the IRS assessed penalties. Rebold paid the  penalties and then filed this refund action. The district court granted summary judgment for the government. We affirm."</p> <p class="paragraph">____________________________________________________________</p> <p>The decision was released on August 11, 2022. An <a href='https://www.taxnotes.com/research/federal/court-documents/court-petitions-and-briefs/estate-seeks-panel-rehearing-in-foreign-trust-penalty-case/7f6c3'>application for a rehearing was filed</a> on September 26, 2022 and <a href='https://www.taxnotes.com/research/federal/court-documents/court-opinions-and-orders/fifth-circuit-denies-rehearing-in-foreign-trust-penalty-case/7f7l7'>denied </a>on October 11, 2022.</p> <p>(The oral arguments from July 6, 2022 can also be heard on <a href='https://www.youtube.com/watch?v=39biXIpetxs'>youtube</a>.)</p> <p>The full text