Learn what foreign assets need to be reported by US taxpayers along with examples and completed US tax forms. Also covered will be options for non-compliance.
This course provides essential guidance on the U.S. reporting requirements for foreign financial assets. You'll learn what types of foreign assets must be disclosed by U.S. taxpayers, with real-life examples and completed tax forms to illustrate compliance. The course covers key filing obligations, including the FBAR (Foreign Bank Account Report) and IRS Form 8938, Statement of Specified Foreign Financial Assets.
In addition to compliance requirements, the course addresses the options available to taxpayers who have failed to meet their foreign asset reporting obligations. You'll gain practical knowledge of disclosure programs and procedures, helping clients navigate the complexities of non-compliance and minimize potential penalties.
US International Tax Practitioner
I am a US Certified Public Account and Tax Attorney based in Chicago, IL. Prior to starting my own practice I was in the international tax services groups of Coopers & Lybrand LLP (London and Washington DC) and Ernst & Young LLP (Chicago). My clients are international families with closely held businesses and multinational assets. In addition to tax planning and compliance, I have taught professional education courses to accountants and attorneys for over 15 years.
