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Tax Reporting for Overseas Assets - Compliance Issues Including Foreign Bank Account Reports and For (Completed)

Date: Tuesday, January 28, 2025
Instructor: Robert J. Misey
Begin Time:  10:00am Pacific Time
11:00am Mountain Time
12:00pm Central Time
1:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card

You can run, but you cannot hide! The Internal Revenue Code has numerous reporting requirements with respect to foreign assets. These provisions do not necessarily result in tax, but failure to properly comply can result in harsh penalties. This program teaches you the rules to properly comply.

Topics Covered

  • Foreign Bank Account Records (FBARs) – filers, financial accounts, and penalties
  • Statement of Specified Financial Assets (Form 8938)
  • Penalties attributable to Undisclosed Foreign Financial Assets
  • FATCA for U.S. depositors and owners

Learning Objectives

  • To understand when you have to report foreign assets to the IRS
  • How to complete an FBAR and a Form 8938

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

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