Forms that taxpayers must file to meet their international tax compliance obligations from a U.S. federal income tax standpoint. The foreign bank and financial account report (FBAR) filing requirements and the IRS Offshore Voluntary Program and/or procedures to disclose previously unreported foreign assets and income effective July 1, 2014-2016, will also be discussed.
Objectives:
Upon completion of this course participants will be able to:
1. Identify the tax reporting requirements of U.S. persons who own foreign assets.
2. Identify the forms used to satisfy such reporting requirements.
3. Understand the available options to disclose unreported foreign assets and income under
the IRS Offshore Voluntary Disclosure Procedures.