FBAR and U.S. Tax Reporting: Compliance Requirements for Foreign Assets
Unraveling Foreign Asset and Income Reporting Obligations, Navigating Available Voluntary Disclosure Programs
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE course will provide counsel and tax advisers with the tools necessary to navigate the rules regarding FBAR and available programs and planning methods in reporting offshore assets and assisting clients with developing programs that provide workable solutions.
Outline
- Delinquent information return program
- IRS disclosure programs
- U.S. resident
- Non-U.S. resident
- Other available options post-OVDP
- Current IRS procedures for evaluating voluntary submittals
Benefits
The panel will review these and other priority issues:
- Explaining to your client the value of not waiting until the IRS shows up on their doorstep to fix their offshore filing issues
- What is the statute of limitations on IRS assessment when taxpayers fail to meet their obligations to report their offshore assets or accounts and how does this statute of limitations compare with other statute of limitations found in the Internal Revenue Code?
- What are the requirements for the delinquent international information return submission procedures and the delinquent FBAR submission procedures? When does a taxpayer qualify for these procedures?
- How should tax advisers best navigate the disclosure program requirements?
Faculty
James (Jim) Cassidy, CPA
International Advisor
Schulman Lobel
Mr. Cassidy is a Certified Public Accountant (New York) with more than 30 years of experience providing U.S. and... | Read More
Mr. Cassidy is a Certified Public Accountant (New York) with more than 30 years of experience providing U.S. and international individual tax consulting and compliance services to international assignee executives, high net-worth individuals, investors as well as athletes & entertainers. He gained most of his experience working for some of the largest accounting public accounting firms, such as PwC, and recently with BDO as the U.S. National Tax Technical Leader for expatriate tax services. He spent several years living in Mexico City and Toronto, assisting clients with local and U.S. tax advice.
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Guy Glaser
Attorney
Brager Tax Law
Mr. Glaser has over 30 years of tax experience with the IRS. He spent the first twenty years as a Senior Trial Attorney... | Read More
Mr. Glaser has over 30 years of tax experience with the IRS. He spent the first twenty years as a Senior Trial Attorney for the Service’s Office of Chief Counsel’s Small Business and Self-Employed (SBSE) Division. For the next 10 years, he served as the Laguna Niguel Associate Area Counsel for the IRS Office of Chief Counsel’s Large Business and International (LB&I) Division. He also worked a 6-month stint as a Special Assistant United States Attorney for the Office of the United States Attorney, Central District of California, Tax Division in Los Angeles. As a Senior Trial Attorney for the IRS Office of Chief Counsel’s Small Business and Self-Employed Division, Mr. Glaser was responsible for providing legal advice to the IRS on tax audits and collection matters. He also assisted in implementing the IRS’s Offshore Compliance Initiative and the Offshore Credit Card Program. He served as one of the initial eleven nationwide IRS Office of Chief Counsel FBAR Coordinators
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Parag P. Patel, Esq.
Attorney
Patel Law Offices
Mr. Patel’s practice concentrates on tax, international tax planning, estate planning, and elder law. His focus... | Read More
Mr. Patel’s practice concentrates on tax, international tax planning, estate planning, and elder law. His focus is on all tax matters including international tax law, foreign bank account disclosures, tax audit defense, and tax appeals. He has advocated over one hundred voluntary tax disclosures for assets before the US Internal Revenue Service. He is a frequent speaker and writer on legal issues affecting tax, foreign account planning, and estate planning.
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