| Attend upcoming webinar and earn continuing education credits. | New and Enhanced FBAR and FATCA Reporting Requirements | | | | | | | | November | | | | 9 | | 3 pm - 4:15 pm ET | | | Presenter: Matthew Lee, partner with Fox Rothschild LLP | | | Credits: CPE, CLE in all states (Credit Details) | | | Can't attend live? By registering, you will be able to view the course live, view a recording at any time after the live presentation, or both. | | | Viewing Options: View on your computer, tablet, or smartphone | | | Course Reviews: View Testimonials | | | | | | | | | | | | Over the past several years, the Internal Revenue Service (the "IRS") has focused much of its attention on offshore bank accounts and the obligation of U.S. taxpayers to report such accounts on the Report of Foreign Bank and Financial Accounts ("FBAR") form. The FBAR rules require taxpayers to annually report whether they have a financial interest in, or signature or other authority over, foreign bank accounts, and may impose substantial civil and criminal penalties for failing to do so. In addition taxpayers have an obligation to report their worldwide income, whether earned domestically or offshore.
The IRS has also imposed additional reporting requirements that obligates U.S. taxpayers to annually disclose specified foreign financial assets on an IRS Form 8938 when they file their personal income tax returns. The IRS Form 8938 requirement is part of the Foreign Account Tax Compliance Act ("FATCA") which was enacted by Congress in 2010 as a measure to prevent U.S. taxpayers from hiding their wealth overseas. At its core, FATCA is mechanism for the IRS to receive a wealth of information with respect to a U.S. taxpayer's foreign bank accounts in that FATCA requires foreign banks and financial institutions to annually disclose to the IRS information about their U.S. depositors. FATCA has significant tax consequences for those U.S. taxpayers who have previously undisclosed foreign bank accounts.
In this course, you will learn about: - The the new FATCA foreign asset reporting rules
- Updates to the existing FBAR reporting regime for foreign bank accounts
- The FATCA information reporting regime for foreign banks
- The U.S. government's enforcement efforts
Course Reviews from Past Attendees
"The speaker was very knowledgeable."
"Clear well presented program. I really enjoyed it and learned a lot! Look forward to more of his programs." | | | | | | | | | | Matthew D. Lee is a partner with Fox Rothschild LLP. He is a former U.S. Department of Justice trial attorney who concentrates his practice on all aspects of white collar criminal defense, federal tax controversies, financial institution regulatory compliance, and complex civil litigation. Mr. Lee represents companies and individuals in criminal investigations and prosecutions involving tax, money laundering, health care, securities, public corruption, and fraud offenses, and has significant experience in handling all stages of state and federal litigation including trials and appeals. He also represents taxpayers in all stages of proceedings before the Internal Revenue Service, including audits, appeals, and collections, as well as Tax Court and district court litigation. Mr. Lee is the author of The Foreign Account Tax Compliance Act Answer Book 2016 (published by the Practising Law Institute). | | | | | | | | | | | ● Earn continuing education credit for no additional fee
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