The reporting of interests in foreign financial accounts has been revolutionized in the past year and a half. From the unprecedented negotiations conducted by sovereign tax authorities over banking institutions to the IRS 2009 Voluntary Compliance Initiative to the Proposed Regulations, this revolution in transparency affects almost all taxpayers and their advisors. Join this 2-hour LIVE Webcast by The Knowledge Group where a panel of key thought leaders and experts will help you to get current on the unique overlap of tax and bank secrecy considerations that govern this subject.With the June 30th deadline for filing 2009 forms, join us for a most topical discussion of the new – and old – rules.
We will discuss:
- The basic FBAR rules
- The state of IRS Voluntary Compliance Initiatives
- The Proposed Regulations
- The Filings Due June 30th
- Issues on the Horizon
The Knowledge Group is producing a LIVE webcast that will explore the issues and concerns surrounding this topic. Register now by clicking the “Register“ button below. Advanced registration is recommended as enrolment is limited for this course.
Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Group, LLC
Recommended CLE/CPE Hours: 1.75 - 2.0
Important Note: Your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date or you will not be able to obtain CLE credit.
Advance Preparation: Print and review course materials
Course Code:104003
Phillip A. Pillar
Shareholder
Todd Simmens
Partner and National Director, Tax Controversy & Procedure
Kristine Roth
Legislation Counsel
Introduction:
- FBAR: a Hybrid of Anti-Money Laundering and Tax Enforcement
- FBARs before 2008
- UBS
- Other activities leading to heightened enforcement of FBAR
Legislative/Congressional response to foreign account reporting:
- Concerns about usefulness of FBAR’S as a tax enforcement tool
- Earlier legislative response
- HIRE Act/FATCA provisions
- New reporting requirements for individuals
- Consequences of non-reporting
- Interface with FBAR requirements
Compliance notices, instructions from 2008, onward
- Current FBAR compliance requirements:
- Compliance in VDA
- Since VDA
- IRS Notices
- Where we might see foreign account compliance in the future: (Panel)
- Panel hypothesize where this might go
- Chief Financial Officers
- Chief Accounting Officers
- Treasurers
- Controllers
- Trusts and Estates Attorneys
- Financial,Tax and Legal Advisors
This is a must attend event to fully understand the important issues surrounding FBARs.
- Detailed guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A