LATEST UPDATES ON FBAR AND FATCA OBLIGATIONS FOR INDIVIDUALS AND ENTITIES (COVID-19)

Course Details

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ADDITIONAL DATES

Aug 28, 2020 | 01:00 PM EDT Register

Course Description

LATEST WEBINAR ON FBAR & FATCA UPDATES

For much of the past decade, the Internal Revenue Service has focused significant attention on offshore bank accounts and the obligation of U.S. taxpayers to report such accounts on the FBAR (Report of Foreign Bank and Financial Accounts) form. The FBAR rules require taxpayers to annually report whether they have a financial interest in, or signature or other authority over, foreign bank accounts, and impose substantial civil and criminal penalties for failing to do so. 

In addition, the Foreign Account Tax Compliance Act (FATCA) now requires individuals and certain entities to annually disclose specified foreign financial assets on Form 8938. The information reporting requirements of FATCA also require foreign banks and financial institutions to annually disclose to the IRS information about their U.S. customers. The IRS now has access to far more information regarding the offshore activities of U.S. taxpayers than ever, and non-compliant U.S. taxpayers face significant risks.

Webinar attendees will review the FBAR reporting regime for foreign bank accounts, explore the relatively new FATCA foreign asset reporting rules, learn of IRS enforcement efforts in this area, and study options for curing non-compliance. All CPAs, Accountants, Tax Professionals helping or advising clients or companies on International Taxes shall attend this insightful 1 hour free webinar with full or case studies and examples  from Expert Tax Attorney Mattew D. Lee

Webinar Qualifies for

  • 1.5 CPE credit of Taxes for all CPAs
  • 1 CE credit of Federal Tax for Maryland Tax Preparers
  • 1 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ )
  • 1 CE credit of Federal Tax Update for Oregon Tax Preparers
  • 1 CE credit of Federal Tax Law Update for CRTPs (CTEC Approved-6273)
  • 1.5 General Educational credit for Tax Professionals/Bookkeepers/Accountants

Learning objectives

  • To identify the new FATCA foreign asset reporting rules
  • To identify the updates to the existing FBAR reporting regime for foreign bank accounts
  • To recall the FATCA information reporting regime for foreign banks
  • To recall penalties for non-compliance of this information reporting rules

About Presenter

Matthew Lee, JD, M.Tax

Accounting Manager, Fox Rothschild LLP

mlee@foxrothschild.com

Matthew D. Lee is a partner at the law firm of Fox Rothschild LLP in Philadelphia.  He is co-chair of the firm's White-Collar Criminal Defense & Regulatory Compliance practice group, and maintains an extensive tax controversy practice.  Mr. Lee regularly represents individuals and businesses in criminal and civil tax matters, including criminal tax investigations and prosecutions as well as proceedings before the Internal Revenue Service such as audits, Appeals, and collection matters.

Fox Rothschild LLP was founded in Philadelphia in 1907, and today the Philadelphia office continues as a cornerstone of the firm's strength. With more than 100 lawyers, the office has well-established practices in corporate law, financial services, labor and employment, litigation, real estate and taxation and wealth planning.

Fox Rothschild, which was named Pennsylvania's "Litigation Department of Year" for 2017 by The Legal Intelligencer, is one of the most well-respected firms in Philadelphia and serves business and civic leaders across the region.

FAQ

  • To receive CPE credit for the event, you must register for the webcast prior to the start of each program.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete webinar and respond to all polling questions asked during the webinar. CPE is issued on 50 minute credit hour basis.
  • This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during/after the webinar.
  • If you are Canadian Chartered Professional Accountant (CPA) many of our courses qualifies for your verifiable CPD requirements you will get your certificate for the program. You can check a tab of “Webinar Qualifies for” for the same.However please do verify with respective regulatory body about the eligibility for the same.
  • Many of our courses are approved by “CFP Board” for CE credits of certified financial Planner(CFP). Please check a tab of “Webinar Qualifies for” to verify whether webinar qualifies for CE credits for CFP or not.

Refund/Cancellation Policy

For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128

In case any of the course or live webinars gets cancelled we would be refunding you the entire amount (if paid).

Reviews

4.7
(163)
75%
21%
2%
1%
1%
  • SJ
    Sandeep Jha , Bookkeeper
    May 21st 2020
    Today's topic touched some penalties information which was very important to learn. This is an excellent course and I recommend all tax preparers take this class to learn the rules. There are a lot of clients that do have bank accounts outside the US.
GD
Ghanshyam Desai , QBA, CPA
Matt did a great job walking us through a complex reporting requirement. I have a number of clients subject to these requirements and this information will help me prepare their returns more completely now.
JHL
Jin Ho Lee , EA, Attorney
Matthew Lee is a great instructor. He made the subject matters easy to understand, and they showed they care about what they are presenting.
KG
Kennon Garms , CPA
I thoroughly enjoyed the webinar and came away more knowledgeable and confident of the IRS expectations for the FBAR and the 8938. The handouts were laid out well also.
AM
Ajay Mulani , EA
This webinar was very informational in regards to FBAR I clearly was unaware as a tax professional, how detrimental it was for my clients to acknowledge whether or not they had foreign financial accounts.
AH
ALAIDA HERRERA
My first time on this webinar and I just loved it

NASBA Approved

MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

IRS Approved

MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary

CTEC Approved

MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) 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, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

upcoming Live CPE Webinars

IRS COLLECTION REPRESENTATION IN THE WAKE OF COVID-19
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S-Corp Preparation, Basis Calculations & Distributions – Form 1120S Schedule K & K-1 Analysis
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Top 10 Things All CPAs Need to Know About IRS Representation
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INTRO TO ACCOUNTINGSUITE™ & MULTI-CHANNEL INVENTORY
Thursday, August 06, 2020 | 12:00 PM EDT View Details/Register
Effective Leadership – Finding Common Ground Despite Differing Points of View
Thursday, August 06, 2020 | 12:00 PM EDT View Details/Register
Excel Tips & Tricks: For every Accountant, CPA, Bookkeeper, Tax Professional, Auditor & Controller
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Advanced 1031 Exchange and Delaware Statutory Trusts: Tax Savings to Wealth Creation
Thursday, August 06, 2020 | 01:00 PM EDT View Details/Register
Data Analysis 101 - Getting to the heart of performance data
Thursday, August 06, 2020 | 01:30 PM EDT View Details/Register
Individual Tax Update 2020
Thursday, August 06, 2020 | 03:00 PM EDT View Details/Register
BASIS CALCULATIONS & DISTRIBUTIONS FOR PASS-THRU ENTITY OWNERS SCHEDULE K-1 ANALYSIS (LATEST)
Friday, August 07, 2020 | 09:00 AM EDT View Details/Register
Practical QB Training - Year End Closing, Analysis, Being Tax/Audit Ready
Friday, August 07, 2020 | 09:00 AM EDT View Details/Register
FASB ASC 606 : TIPS ON ACCOUNTING & AUDITING FOR REVENUE RECOGNITION
Friday, August 07, 2020 | 09:00 AM EDT View Details/Register
Accountant prepared a return and it is under Criminal Investigation by the IRS, Now What?
Friday, August 07, 2020 | 09:00 AM EDT View Details/Register
  • Cost FREE
  • CPE Credits 1.5
  • CE Credits 1
  • IRS Course ID GEHNZ-U-00188-20-O
  • CTEC Course ID 6273-CE-0155
  • Subject Area Taxes
  • Course Level Basic
  • Instructional Method group internet based
  • Prerequisites None
  • Advanced Preparation None
  • Who should attend? Enrolled Agent Tax Attorney Tax Practitioners Accountant CFO/Controller CPA - Small Firm CPA - Mid Size Firm CPA - Large Firm Accounting Firm Tax Pros CPA (Industry) Tax Firm Young CPA CPA in Business Entrepreneurial CPA Outsourced CFO Tax Accountant (Industry) Tax Director (Industry) Accounting Practice Owners Senior Accountant Tax Managers Tax Preparer Staff of Accounting Firm
  • Handout Material Download

upcoming Live CPE Webinars

IRS COLLECTION REPRESENTATION IN THE WAKE OF COVID-19
Thursday, August 06, 2020 | 10:00 AM EDT View Details/Register
Building a Framework for Regulatory Ethics
Thursday, August 06, 2020 | 10:30 AM EDT View Details/Register
Passive Loss Issues with Schedule K-1s
Thursday, August 06, 2020 | 11:00 AM EDT View Details/Register
S-Corp Preparation, Basis Calculations & Distributions – Form 1120S Schedule K & K-1 Analysis
Thursday, August 06, 2020 | 11:00 AM EDT View Details/Register
Top 10 Things All CPAs Need to Know About IRS Representation
Thursday, August 06, 2020 | 11:30 AM EDT View Details/Register
INTRO TO ACCOUNTINGSUITE™ & MULTI-CHANNEL INVENTORY
Thursday, August 06, 2020 | 12:00 PM EDT View Details/Register
Effective Leadership – Finding Common Ground Despite Differing Points of View
Thursday, August 06, 2020 | 12:00 PM EDT View Details/Register
Excel Tips & Tricks: For every Accountant, CPA, Bookkeeper, Tax Professional, Auditor & Controller
Thursday, August 06, 2020 | 01:00 PM EDT View Details/Register
Advanced 1031 Exchange and Delaware Statutory Trusts: Tax Savings to Wealth Creation
Thursday, August 06, 2020 | 01:00 PM EDT View Details/Register
Data Analysis 101 - Getting to the heart of performance data
Thursday, August 06, 2020 | 01:30 PM EDT View Details/Register
Individual Tax Update 2020
Thursday, August 06, 2020 | 03:00 PM EDT View Details/Register
BASIS CALCULATIONS & DISTRIBUTIONS FOR PASS-THRU ENTITY OWNERS SCHEDULE K-1 ANALYSIS (LATEST)
Friday, August 07, 2020 | 09:00 AM EDT View Details/Register
Practical QB Training - Year End Closing, Analysis, Being Tax/Audit Ready
Friday, August 07, 2020 | 09:00 AM EDT View Details/Register
FASB ASC 606 : TIPS ON ACCOUNTING & AUDITING FOR REVENUE RECOGNITION
Friday, August 07, 2020 | 09:00 AM EDT View Details/Register
Accountant prepared a return and it is under Criminal Investigation by the IRS, Now What?
Friday, August 07, 2020 | 09:00 AM EDT View Details/Register