Select a Webcast

November 27, 2018
4:00PM - 6:00PM ET


December 26, 2018
4:00PM - 6:00PM ET



Course Description

The IRS has been aggressively pursuing unreported foreign accounts since 2009. During that time, the IRS has offered various Offshore Voluntary Disclosure Programs (OVDPs). Recently, the IRS announced that the current OVDP would end on Sep. 28, 2018. It is now imperative that all clients with undisclosed foreign financial assets review the best way to correct their prior omissions. This course will help you competently advise your clients of the best methods to resolve filing omissions. Topics covered include:

  • A review of the multiple tax filing requirements for taxpayers with foreign income and assets
  • The filing requirement of foreign trusts, corporations, and partnerships and their beneficiaries, partners, and shareholders
  • What to do when clients who should have filed didn't and how to correct these failures
  • A review of the current disclosure options available to taxpayers including the current OVDP, streamlined disclosures, and quiet disclosures
  • The ramifications to the non-compliant client should her failure be discovered by the IRS
  • A review of the facts to determine the best disclosure option for each client
  • Ways to reduce penalties using the IRS's soon-to-expire voluntary compliance programs


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.

Course Specifics

Apr 23, 2018

Compliance Information

IRS Provider #: OMYXB
IRS Course ID: 0MYXB-T-01271-18-O
IRS Federal Tax Law Credits: 2
CTEC Provider #: 2071
CTEC Course ID: 2071-CE-1218
CTEC Federal Tax Law Credits: 2
Qualifies for CA Fraud: No

Learning Objectives

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

  • Cite the reporting requirements for offshore assets and income
  • Identify disclosure options for non-compliant taxpayers with offshore income and assets
  • List the best steps to take for your client to meet the Sep. 28 deadline for the OVDP
  • Cite ways to properly advise taxpayers on their offshore reporting obligations

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