I am pleased to announce that, along with two esteemed colleagues, I will be presenting a webinar on February 6, 2019 at 1pm EST. I will be discussing U.S. reporting requirements for offshore assets, how to come into compliance if you haven’t reported these assets, and what the government might do if you fail to report foreign assets and are discovered. I will also be discussing recent IRS enforcement initiatives for non-reporting of Bitcoin and other crypto currencies. This webinar will also explore how to make a disclosure of offshore assets to the IRS now that the IRS Offshore Voluntary Disclosure Program (OVDP) has ended, as well as additional compliance opportunities, including the IRS Streamlined Disclosure Procedures and the IRS Delinquent Informational Return Procedures.
The panel will review these and other priority issues:
- Explaining the value of not waiting until the IRS shows up on one’s doorstep to fix offshore filing issues
- What is the statute of limitations on IRS assessment when taxpayers fail to meet their obligations to report their offshore assets?
- What are the requirements for the delinquent international information return submission procedures and the delinquent FBAR submission procedures? When does a taxpayer qualify for these procedures?
- In what ways can the Streamlined Procedures (SDOP/SFOP) and other available programs benefit taxpayers?
- What are the best practices to implement in determining how these voluntary disclosure programs can work for particular clients?
- How should tax advisers best navigate the disclosure program requirements?
Additional information may be found at the Strafford website, here.