Self-Study
2
Intermediate
Taxes
Previous tax preparation experience.

Course Description

In 2008, the Department of the Treasury began an aggressive enforcement program aimed at collecting taxes on offshore accounts. Legislation, such as the Foreign Account Tax Compliance Act (FATCA), has further expanded the Treasury's ability to collect information for the purposes of levying penalties and collecting unpaid taxes. During this period of enhanced enforcement, U.S. taxpayers, foreign bankers, and foreign banks have all been prosecuted - and those that have escaped prosecution have often been assessed heavy financial penalties.

While enforcement efforts have been amplified, the Treasury has also offered various voluntary disclosure programs to encourage self-reporting. The latest such initiative offers taxpayers the ability correct omitted returns and income reporting for foreign financial assets. FBAR and Offshore Tax Compliance Issues, will cover the latest self-reporting initiatives, guidance on imposing FBAR penalties, the Treasury's enforcement efforts, compliance requirements for foreign accounts, and much more.



Instructors

Robert (Bob) E. McKenzie, EA, Esq.

Robert (Bob) E. McKenzie, EA, Esq., is a partner of the law firm of Arnstein & Lehr LLP of Chicago, Illinois, concentrating his practice in representation before the IRS and state tax agencies. He has lectured extensively on the subject of taxation and has made numerous media appearances, including on Dateline NBC and ABC World News Tonight.

Bob has been elected to the American College of Tax Counsel where he serves as secretary/treasurer of its board of regents. Prior to entering private practice, he was employed by the IRS Collection Division in Chicago, Illinois. From 2009–2011, Bob served as a member of the IRS Advisory Council (IRSAC), a group appointed by the IRS Commissioner.

Bob is the author of Representation Before the Collection Division of the IRS as well as the coauthor of Representing the Audited Taxpayer Before the IRS and Representation Before the United States Tax Court.

Claudia Hill, EA, MBA

Claudia Hill, EA, MBA, is a nationally recognized tax professional and a frequent lecturer on taxation of individuals and representation before the IRS. She’s the editor in chief of CCH’s Journal of Tax Practice & Procedure, coauthor of CCH Expert Treatise Library: Tax Practice and Procedure, and a frequent presenter for both live and audio CPE seminars. Named a Top Ten Nominee by Tax Analysts as 2011 Person of the Year, she coordinates a “dream team of tax controversy advisors” for the IRS Watch blog on Forbes.com.

Claudia served on the 1987 Commissioner’s Advisory Group to the National Office of the IRS. She’s the owner and principal of TaxMam, Inc. and TMI Tax Services Group, Inc. in Cupertino, California. TMI offers quality tax return preparation, tax advisory services, and controversy representation services to small businesses and individual taxpayers.



Course Specifics

Taxes
Jul 20, 2016
Previous tax preparation experience.
SS8152532
None


Compliance Information

103220
IRS Provider #: 0MYXB IRS Course ID: 0MYXB-T-00861-15-S IRS Federal Tax Update Credits: 2
CTEC Provider #: 2071 CTEC Course ID: 2071-CE-0849 CTEC Federal Tax Update Credits: 2 Qualifies for CA Fraud: No


Learning Objectives

Upon successful completion of this course, participants will be able to:

Section 1

  • Identify the requirements for filing and the penalties associated with inappropriate filing of FBARs.
  • Identify the purpose and timing related to FATCA.
  • Cite the various forms related to foreign account activity and the various requirements for filing them.

Section 2

  • Identify the components and requirements for filing under the 2012 Offshore Voluntary Disclosure Program (OVDP).
  • Identify the components and requirements for filing under the streamlined 2014 procedures.



Choose Your Preferred Format


Online Access

Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.

online access
Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

hard copy
Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.

hard copy


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