Correcting Foreign Information Reporting Noncompliance: Voluntary Disclosure Programs
Navigating Penalty Abatement for Failure to File Forms 5471, 5472, FATCA and FBAR
Recording of a 110-minute CPE webinar with Q&A
This webinar will provide CPAs and tax advisers with a practical guide to navigating the amnesty programs that are available to rectify a client’s failure to properly file required international information forms such as the FBAR, Form 8938, and Forms 5471 and 5472. The panel will focus on the role of compliance professionals and advisers in identifying potential foreign information reporting issues, correcting filing deficiencies, and navigating the disclosure process.
- Identifying foreign information noncompliance scenarios
- Delinquent information return program
- Streamlined disclosure program
- SDOP for U.S. resident
- SFOP for non-U.S. resident
- Offshore voluntary disclosure program
- What are the required filings and submittals for penalty abatement requests?
- Current IRS procedures for evaluating voluntary submittals
The panel will discuss these and other important topics:
- What foreign reporting forms are subject to foreign tax reporting penalties?
- What are the penalty structures for non-willful and willful failure when other violations are in place?
- What amnesty program are available to rectify a client’s past failures?
- How significantly will the amnesty landscape change once OVDP is no longer an option?
- What documentation and submissions must accompany a corrective filing?
Joshua Ashman, CPA
Expat Tax Professionals
Mr. Ashman is an international tax accountant. He counsels Americans abroad regarding filing their U.S. taxes. He... | Read More
Mr. Ashman is an international tax accountant. He counsels Americans abroad regarding filing their U.S. taxes. He specializes in expat-specific issues and complicated tax matters. He previously held a senior management position in the international tax practice of PwC.Close
Expat Tax Professionals
Mr. Mintz is a U.S. attorney specializing in U.S. international tax matters. He has extensive experience in providing... | Read More
Mr. Mintz is a U.S. attorney specializing in U.S. international tax matters. He has extensive experience in providing tax counsel to individuals and businesses with respect to U.S. inbound and outbound tax issues. In recent years, he has focused his work on tax issues affecting U.S. citizens living abroad, providing guidance under both U.S. domestic tax laws and international income tax treaties. Previously, he held a managerial position in the international tax practice of PwC.Close
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