On September 29, 2016, Asher Rubinstein will be the featured speaker in a live webinar, FBAR and U.S. Tax Reporting and Compliance Requirements for Foreign Assets.
Since the Foreign Account Tax Compliance Act (FATCA) was passed in 2010, most countries around the world will report foreign accounts to the IRS. American taxpayers who do not report foreign assets and income to the IRS (whether innocently or willfully) can be investigated and charged with significant penalties. In this webinar, you’ll learn about foreign reporting requirements and how to comply with the law and avoid penalties. Upon completion of this course, you will be able to:
- Identify what foreign assets must be reported to the IRS and what forms must be filed.
- Determine whether a client is non-compliant under the following circumstances:
- If a client did not report foreign assets and income to the IRS.
- If a client just closes his or her foreign bank account.
- If the client innocently did not know about the foreign reporting requirements.
- Is the client inherited foreign assets from a relative who is not American.
- If the client lives and works in a foreign country.
- Explain how the IRS could learn about foreign assets if the client doesn’t report them.
- Describe whether a client who paid tax to a foreign government still has to report the assets to the IRS.
- Determine whether foreign real estate has to be reported to the IRS.
- Recognize how to respond when a client receives a letter from their foreign bank.
- Avoid penalties for not reporting offshore assets.
For more information or to enroll, please see here.