Webcast
Basic
CPE Credits
1 Credits: Taxes
Course Description
The Internal Revenue Code require taxpayers with foreign assets and business interests to report such assets and the attributable income. If a taxpayer fails to report such assets and income, they may face large punitive penalties. Many of these penalties can be reduced or abated by a knowledgeable, skilled practitioner. In this course, Adam Fayne covers the most common foreign compliance penalties. You will learn details about the IRS tax code that can substantially reduce many foreign tax penalties asserted by the IRS against your clients.
Learning Objectives
Upon completing this course, participants will be able to:
- Identify the specific components of the Foreign Bank Account penalties.
- Identify the specific components of the Form 5471, Form 8938, and other foreign compliance penalties.
- Identify the specific requirements of the various reasonable cause assertions.
- Understand the delinquent compliance programs offered by the IRS to reduce these penalties, e.g. Streamlined Foreign Compliance Program.
Course Specifics
|
Course ID WC1822291367 |
Revision Date July 22, 2022 |
Prerequisites None |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02048-22-O
IRS Federal Tax Law Credits: 1
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02048-22-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1784
CTEC Federal Tax Law Credits: 1
CTEC Course Number: 2071-CE-1784
CTEC Federal Tax Law Credits: 1
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Course Instructor
Adam Fayne assists companies and individuals, nationally and internationally, on corporate and tax issues. As a corporate attorney, Adam routinely advises management or in-house general counsel on various legal matters affecting their day-to-day corporate activities. His experience includes handling matters involving mergers and acquisitions, employment, compliance, litigation, personal injury, vendor contract review and negotiations, employment benefits, financing, real estate and many other issues. Adam is also a tax attorney who helps businesses and individuals with tax controversies before the Internal Revenue Service (IRS) and tax planning both domestically and internationally. He also handles a variety of white collar criminal matters, both …
2022 Foreign Assets: Filing Requirements and Penalty Relief
$49.00
Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET.
Webcast
Basic
CPE Credits
1 Credits: Taxes
Course Description
The Internal Revenue Code require taxpayers with foreign assets and business interests to report such assets and the attributable income. If a taxpayer fails to report such assets and income, they may face large punitive penalties. Many of these penalties can be reduced or abated by a knowledgeable, skilled practitioner. In this course, Adam Fayne covers the most common foreign compliance penalties. You will learn details about the IRS tax code that can substantially reduce many foreign tax penalties asserted by the IRS against your clients.
Learning Objectives
Upon completing this course, participants will be able to:
- Identify the specific components of the Foreign Bank Account penalties.
- Identify the specific components of the Form 5471, Form 8938, and other foreign compliance penalties.
- Identify the specific requirements of the various reasonable cause assertions.
- Understand the delinquent compliance programs offered by the IRS to reduce these penalties, e.g. Streamlined Foreign Compliance Program.
Course Specifics
|
Course ID WC1822291367 |
Revision Date July 22, 2022 |
Prerequisites None |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02048-22-O
IRS Federal Tax Law Credits: 1
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02048-22-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1784
CTEC Federal Tax Law Credits: 1
CTEC Course Number: 2071-CE-1784
CTEC Federal Tax Law Credits: 1
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Course Instructor
Adam Fayne assists companies and individuals, nationally and internationally, on corporate and tax issues. As a corporate attorney, Adam routinely advises management or in-house general counsel on various legal matters affecting their day-to-day corporate activities. His experience includes handling matters involving mergers and acquisitions, employment, compliance, litigation, personal injury, vendor contract review and negotiations, employment benefits, financing, real estate and many other issues. Adam is also a tax attorney who helps businesses and individuals with tax controversies before the Internal Revenue Service (IRS) and tax planning both domestically and internationally. He also handles a variety of white collar criminal matters, both …
2022 Foreign Assets: Filing Requirements and Penalty Relief
Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET.
$49.00