The IRS is pursuing unreported foreign accounts and income. Tax pros must understand foreign asset reporting requirements and best practices for compliance, including who must file, what must be reported, and the liabilities for taxpayers and preparers. Attend this session to better advise clients on reporting requirements.
Objectives
Upon completion of this session, you will be able to:
Identify the IRS's targeting of unreported foreign accounts and income
Learn the requirements of foreign asset reporting and best practices for compliance
Understand the potential liability of both taxpayers and tax preparers in foreign asset disclosure
Duration: 50 minutes Course level: Intermediate Prerequisite: Basic understanding of federal income taxation Advanced preparation: None Delivery method: Group Live
