Foreign Assets: Filing Requirements and Penalty Relief

Adam Fayne

Adam Fayne

Adam is a tax attorney who helps businesses and individuals with tax controversies before the Internal Revenue Service (IRS) and tax planning both domestically and internationally. He also handles a variety of white-collar criminal matters, both federal and state, particularly involving civil and criminal tax fraud, including tax evasion, money...
Read More
Pre-recorded
60 Mins
Adam Fayne

This webinar will provide an overview of compliance obligations related to foreign assets; including but not limited to foreign bank accounts, foreign corporations, foreign gifts and estates, foreign partnerships, and more. This session will discuss when taxpayers have a duty to report these foreign assets, and the consequences for a taxpayer’s failure to timely report or disclose these foreign assets. Taxpayers may be selected for enforcement action by the IRS for their failure to report these foreign assets and we will discuss how to navigate those audits and enforcement actions.

Webinar Objectives


This webinar will discuss the requirements for reporting worldwide income from all sources including foreign accounts, foreign corporations and partnerships, paying taxes on the income from those accounts and entities, and paying penalties for noncompliance. Topics addressed include: FBAR reporting and penalties, types of foreign assets, comparison of Form 8938 and FBAR, passive foreign investment companies, Form 5471, the Offshore Voluntary Disclosure Initiative, and much more.

Webinar Highlights


  • When and how to file FinCEN Form 114
  • Identify the appropriate penalty for willful failure to file an FBAR
  • Choose which assets are reportable on Form 8938
  • Identify the filing threshold for gifts from foreign corporations or partnerships
  • Determine how to fix past non-compliance mistakes – intentional or inadvertent.
  • Discuss eligibility requirements for the Streamlined Offshore Voluntary Disclosure Program

Who Should Attend


  • Accountants
  • Tax Preparers
  • CFOs
  • Lawyers
  • Financial Compliance Professionals
Event Registration
$199.00
$249.00
$249.00
$299.00
$249.00
$199.00
$249.00
$199.00
$199.00
$249.00
$249.00
$199.00
Register Now!
×

Recommended:

Webinar Recording + PDF Transcript

Get webinar recording (in mp4) with presentation handouts and pdf transcript for the webinar

 

$249

Recording Only

Webinar recording (in mp4) with presentation handouts

$199

Make your Own Bundle

Choose your own learning format/s

$199

Let us inform you about everything important directly.