FBAR 2019 Update: FinCen Form 114, Deadlines, Extension, Penalty Resolution and Waiver Provisions
Who Must File, What Must Be Reported, Willful vs. Non-Willful Failures
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This webinar will provide tax advisers with a practical guide to completing required FBAR filing requirements. The panel will offer detailed instruction on completing and filing an FBAR (FinCen Form 114), discuss recent IRS penalty enforcement actions for non-filing of foreign bank accounts, and describe extension provisions for the 2019 filing year.
- What triggers FBAR filing requirements
- Entity ownership
- $10,000 threshold
- When are a company's officers personally responsible?
- Information to report on the FBAR vs. Form 8938
- Ownership accounts, accounts with signature authority, combined report accounts
- Form 8938 and associated IRS forms for foreign ownership/transactions
- Update on enforcement and new developments
- FBAR and Form 8938 penalties
- Willfulness standard and the non-willful certification
- Avenues and procedures
- Audits and examination
- Civil vs. criminal sanctions
The panel will review these and other key issues:
- When can corporate officers' stake in foreign accounts trigger reporting responsibilities?
- What is the latest in the IRS and FinCen enforcement activity?
- What are the options for companies required to file an FBAR and have not?
- How do Form 8938 filing requirements intersect with FBAR?
Dennis N. Brager, Esq.
Certified Tax Specialist
Brager Tax Law Group
Mr. Brager is a nationally known tax litigation attorney, representing clients in criminal and civil tax litigation and... | Read More
Mr. Brager is a nationally known tax litigation attorney, representing clients in criminal and civil tax litigation and tax controversy matters. Before founding the Brager Tax Law Group, a Los Angeles-based tax litigation and tax controversy law firm, he was a senior trial attorney for the Internal Revenue Service’s Office of Chief Counsel. Since 2008 he has represented several hundred clients with offshore accounts. He also represents clients on a variety of issues, including criminal and civil tax fraud, tax audit and appeals, payroll and sales tax problems, tax preparer penalties, innocent spouse defenses, offers in compromise, installment payment agreements, Office of Professional Responsibility (“OPR”) defenses and more.Close
Igor S. Drabkin
Holtz Slavett & Drabkin
Mr. Drabkin represents tax clients in disputes with the IRS and state revenue authorities, both administratively... | Read More
Mr. Drabkin represents tax clients in disputes with the IRS and state revenue authorities, both administratively and in court. Previously in his career, he was a senior IRS trial attorney and a special assistant U.S. attorney on bankruptcy cases involving tax matters.Close
Ms. Obeid is the founder of MFO LAW, P.C. She represents individual and corporate clients in civil and criminal matters... | Read More
Ms. Obeid is the founder of MFO LAW, P.C. She represents individual and corporate clients in civil and criminal matters involving the Internal Revenue Service, state and city tax agencies, the tax division of the Department of Justice, the United States Attorney’s Office, the District Attorney’s Office, the New York State Attorney General as well as other government agencies.Close