Preparing for the Next Round of Offshore Tax Enforcement: What Practitioners and Their Clients Need to Know Now
June 4, 2015 at 2:00 PM EDT, 1:00 PM CDT, 12:00 PM MDT, 11:00 AM PDT
Since 2008, the Internal Revenue
Service and the Justice Department have waged an unprecedented enforcement
campaign to crack down on offshore tax evasion by U.S. taxpayers. The
U.S. government has aggressively enforced current laws requiring reporting of
offshore income and disclosure of non-U.S. bank accounts and investment
activity. With the passage of the Foreign Account Tax Compliance Act
(FATCA), the IRS has new tools to uncover offshore bank accounts and investment
activity. Practitioners must be aware of the income and information
reporting requirements in this area so as to properly advise their clients and
prepare for a coming wave of additional enforcement activity by the IRS and DOJ
in the civil and criminal areas. Attendees will learn the following:
-
Income tax reporting
obligations for offshore income and deductions;
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Foreign tax credits;
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Foreign bank account
reporting (FBAR) obligations;
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FATCA foreign asset
reporting obligation (Form 8938)
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Other foreign
information return obligations (Forms 3520, 3520-A, 5471, 8621, 8865)
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Criminal and/or
civil penalties for non-compliance
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The latest trends in
IRS and DOJ enforcement
NASBA CPE: 2 Hours/Taxes
IRS CE: 2 Hours/Federal Tax Law
Presented by Matthew Lee, Esq.
NSA ConnectED Webinar Series
Learning Objective:
Program Level: Basic
Prerequisites: None
Advance Preparation: None
No refunds or exchanges for cancellations. For more information regarding refund, complaint and/or program
cancellation policies, please contact NSA toll-free at 800-966-6679.
NSA is approved by NASBA, the IRS, ACAT, and CTEC as a provider of continuing professional education.
The
National Society of Accountants is registered with the National
Association of State Boards of Accountancy (NASBA) as a sponsor of
continuing professional education on the National Registry of CPE
Sponsors. State boards of accountancy have final authority on the
acceptance of individual courses for CPE credit. Complaints regarding
registered sponsors may be submitted to the National Registry of CPE
Sponsors through its website: www.learningmarket.org.
NSA
has been approved by the California Tax Education Council to offer the
above courses to go towards the annual "continuing education"
requirement imposed by the state of California. A listing of additional
requirements to register as a tax preparer may be obtained by
contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone
at (877) 850-2832, or on the Internet at www.ctec.com.
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