| Attend upcoming webinar and earn continuing education credits. | FBAR and FATCA 2019: Preparing for the Next Round of Offshore Tax Compliance | | | | | | | | June | | | | 19 | | 3 pm - 4:15 pm ET | | | Presenter: Jed Silversmith, of Blank Rome LLP | | | Credits: CPE, IRS EA, 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 | | | | | | | | | | | | | 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
| | | | | | |  | | | | Jed Silversmith concentrates his practice in white-collar litigation, with a particular focus on civil and criminal tax controversy matters. He has worked on a number of civil and criminal cases throughout the United States, including criminal tax prosecutions and forfeiture proceedings. He has also worked on a number of international matters, including large international "Kleptocracy" cases brought by the U.S. Government. Mr. Silversmith has over a decade of experience working on civil and criminal enforcement matters in the public sector. He worked at the U.S. Department of Justice, Tax Division, on matters involving and bank fraud. Prior, he served as a trial attorney for the Division of Enforcement at the U.S. Commodity Futures Trading Commission. He worked on a number of substantial investigations involving the manipulation and false reporting of energy prices. Mr. Silversmith also regularly counsels clients on forfeiture, AML, and tax issues, including clients who are making voluntary disclosures to the IRS. | | | | | | | | | | | ● Earn continuing education credit for no additional fee
● Access courses on your computer, tablet, or smartphone
● More than 75 live webinars each month
● More than 1,500 on-demand courses | | | | | | |
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