Do we really have to file both the FBAR and Form 8938?! This session distinguishes between foreign accounts and foreign assets, reviews reporting thresholds, outlines the harsh consequences for non-compliance, and provides a comparison of relief programs for the non-compliant taxpayer. Learn what to do to ensure that your clients satisfy their foreign reporting obligations and what to do if they don’t.
Participants will understand:
Upon completion of this course, you will be able to:
- Identify when a taxpayer has a foreign reporting obligation.
- Recognize the overlap of reporting mandates stemming from regulations enacted decades apart.
- Compile the information necessary to properly report foreign accounts and assets.
- Implement best practices to help clients avoid penalties and potential criminal prosecution.
- Understand the options available to those who have been non-compliant.
Who Will Benefit:
- CPA's
- Tax Attorneys
- Accountants
- Tax Compliance Managers
- Other Tax Professionals
Speaker Profile:
Monica Haven, E.A., J.D. has a Masters in Taxation (LL.M.) and is a graduate fellow and former faculty member of the National Tax Practice Institute®. In practice for more than 30 years as an Enrolled Agent, an Accredited Tax Advisor® and an Accredited Tax Preparer®, Monica is a sought-after guest lecturer on college campuses and at community organizations. Monica has been a long-term and active member of numerous professional organizations, including the National Association of Enrolled Agents, the National Society of Accountants, the National Association of Tax Practitioners, the National Society of Tax Practitioners, the California Society of Enrolled Agents, the California Society of CPAs, and the California Society of Accounting and Tax Professionals, as well as the Los Angeles County Bar Association, the Young Tax Lawyers Committee, and the Tax Law Society. Monica welcomes every opportunity to share her experience and expertise in the classroom even as she maintains her Southern California tax practice which serves national and international clients. Her students have said, she’s a “fantastic speaker” who can take “hard subjects and put them into concepts or analogies that are easy to understand.” For additional information, published articles and extensive, useful tax information.
Credits and Other information:
- Recommended CPE credit – 2.0
- Recommended field of study – Tax
- Session Prerequisites and preparation: None
- Session learning level: Basic
- Location: Virtual/Online
- Delivery method: Group Internet Based
- IRS Course ID: PJGWS-T-00034-21-O
- Attendance Requirement: Yes
- Session Duration: 2 Hours
- Case Studies and Live Q&A session with speaker
- PowerPoint presentation for reference
We are approved to provide CPE/CE credits to Tax Professionals
We reports the educational credits to the respective licensing/regulatory bodies in 5 business days.
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