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Foreign Bank Accounts and Assets (LEG861L)

Presented By : Robert E. McKenzie
(*) Single User Price. For multiple users please call 1-800-223-8720
Pre Recorded Webinar
120 minutes
  •  Tue, July 14, 2015
Event Description
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IL CLE - 2.0 Credits
WA CLE - 2.0 Credits
FL CLE - 2.5 Credits
TX CLE - 2.0 Credits
OR CLE - 2.0 Credits
NC CLE - 2.0 Credits
CO CLE - 2.0 Credits
NY CLE - 2.0 Credit (under approved jurisdiction)

How to Handle the Compliance Requirements of Foreign Bank Account and Assets

Many of your clients may have opened foreign bank accounts to avoid IRS scrutiny. Since 2008, IRS has begun an aggressive enforcement program aimed at those with offshore accounts. Taxpayers, foreign bankers and foreign banks have been prosecuted. Even those avoiding prosecution can face penalties that exceed the value of their offshore accounts. Contemporaneously, the IRS has offered various voluntary disclosure programs. The latest initiative was announced on June 18, 2014 and offers various methods for taxpayers to correct omitted returns and income for foreign financial assets.

This class with expert speaker Robert McKenzie will alert you to IRS enforcement efforts and the compliance requirements for foreign bank accounts and assets. You will learn the best ways to assist noncompliant taxpayers based upon their individual facts and circumstances. You will also understand the filing requirements for reporting offshore income and assets for foreign bank accounts, foreign trusts, foreign corporations and foreign partnerships. Additionally, during the class you will learn all the appropriate methods for correcting prior failures to file required returns.

Training Highlights:

  • Become aware of tax filing requirement of taxpayers with foreign accounts.
  • Learn the filing requirement of foreign trusts and their beneficiaries.
  • Knowledge of the IRS current procedures for correction of foreign issues.
  • Review forms of procedures.
  • List of foreign compliance resources.

Who Should Attend

This webinar will provide valuable assistance to all personnel in:

  • Accounting and taxation firms
  • Law firms dealing with tax issues
  • Profit businesses involved in joint ventures with nonprofit organizations
About Our Speaker(s)

Robert E. Mckenzie, Tax Preparer Training ExpertRobert E. McKenzie
Robert E. McKenzie is a Partner of the law firm of Arnstein & Lehr LLP of Chicago, Illinois, concentrating his practice in representation before the Internal Revenue Service and state tax agencies. He has lectured extensively on the subject of tax representation. He has presented courses before thousands of CPA's, ... More info

Disclaimer: AudioSolutionz, Eli Global, and the Presenters of all programs are part of a continuing legal education provider. The sole purpose of the Provider is to provide educational and informational content. The Provider does not provide legal services or advice, nor do the Presenters. By visiting this Provider, you acknowledge that any use of the Provider does not create an attorney-client relationship between you and the Provider or any of its Presenters. The opinions and views expressed by Presenters do not necessarily represent the opinions and views of the Provider, AudioSolutionz, Eli Global, and should not be construed as such.
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