Basics of Foreign Tax Reporting: Identifying Individuals' Filing Requirements

Inbound vs. Outbound Reporting Duties, Intersection Between Information Reporting and Income Calculation

Note: CLE credit is not offered on this program

Recording of a 110-minute CPE webinar with Q&A

Conducted on Tuesday, October 29, 2019

Recorded event now available

or call 1-800-926-7926
Course Materials

This course will provide tax advisers and compliance professionals with a sound foundation for identifying foreign tax and asset information requirements for individual taxpayers. The webinar will identify reporting requirements, differentiate between inbound and outbound filing duties, and detail the intersection between information reporting, income declaration, tax computation, and credit claims.


With the sweeping changes Congress and Treasury continue to make to the reporting requirements of cross-border activities by taxpayers subject to U.S. tax jurisdiction, it is more critical than ever for tax professionals to have a thorough grounding of the foundations of the foreign tax filing regime. The IRS has indicated that tracking compliance with foreign information and income filing rules is among its highest priorities.

The framework of foreign tax reporting is intricate and complex by its very structure. Despite some movement toward a territorial tax regime, the U.S. stands virtually alone among developed nations in imposing income tax on its citizens on global income. Generally, the U.S. follows other countries' practices of taxing nonresidents with income that can be sourced to the United States but with numerous exceptions, some of which are more stringent than that of other countries.

The foreign tax reporting regime consists of two major components: assets/holdings and income. In layman's terms, taxpayers subject to U.S. tax jurisdiction must report what they own and what they earn. However, determining whether a U.S. taxpayer has filing requirements can present a challenge to even seasoned tax advisers. So it is helpful to examine the reach of the taxing regime in terms of inbound (non-U.S. taxpayers with activities located or sourced in the United States) and outbound (U.S. citizens and residents with activities outside the United States) activities.

Listen as our expert panel provides a solid grounding in the basics of U.S. foreign tax reporting, the identification of reporting requirements, thresholds, and rules.



  1. Overview of U.S. foreign tax regime
  2. Information reporting structure
  3. Income reporting structure for U.S. citizens with income from offshore activities
  4. How the 2017 tax reform law changed the structure of foreign tax reporting
  5. Determining whether a taxpayer falls under U.S. tax jurisdiction


The panel will discuss these and other relevant topics:

  • How the U.S. foreign tax reporting regime is structured for both inbound and outbound activities
  • Types of information filings and how they intersect with one another, and with income filings
  • Coordination between U.S. and other countries in identifying assets
  • Thresholds for filing requirements


Dougherty, Alison
Alison N. Dougherty, J.D., LL.M.


Ms. Dougherty has extensive experience assisting clients with U.S. tax reporting and compliance for offshore assets and...  |  Read More

McCormick, Patrick
Patrick J. McCormick, J.D., LL.M.

Culhane Meadows Haughian & Walsh

Mr. McCormick specializes in the areas of international taxation, tax compliance, and offshore reporting...  |  Read More

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