Economic and diplomatic relationships between the United States and Germany have resulted in significant economic interaction between the two countries. Many German resident have well-established business interests within the United States, and U.S. taxpayers – both individuals and entities - maintain similar interests in Germany. Tax advisers serving clients with ties in both countries require familiarity with the laws of each, to ensure (with collaboration from advisors in the other jurisdiction, and with reference to the U.S./Germany tax treaties) effective global tax rates are minimized. Looming over tax treatment of American taxpayers with cross-border activities are extensive U.S. information reporting requirements. Germany is a participant in global bank and asset disclosure programs, and U.S. taxpayers with presence in Germany must coordinate their U.S. disclosures with required German tax filings. German-specific factors also are critical in classifying a foreign interest for United States tax purposes, with classification ultimately dictating which filings are required. The program will also cover US tax compliance related to US Persons living and working in Germany. A brief overview of how US source income affects Nonresidents in the context of the US-Germany tax treaty is included as well. The program will focus on options to avoid double taxation as well as options available to become compliant. Finally, it will provide a brief discussion regarding the provisions of the Foreign Account Tax Compliance Act and the importance of additional declarations when preparing US tax returns for US persons living in Germany. Recorded Date: January 30, 2020