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

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • CVA
  • EA
  • ORTP
  • MRTP
  • CBA/MCBA
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

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.

Major Topics Covered : 

  • Obligation to Report Worldwide Income
  • The Carrot: Voluntary Disclosure Programs
  • Criminal Enforcement Efforts Against Individuals
  • Criminal Enforcement Actions Against Banks
  • Swiss Bank Program
  • United States v. Dusko Bruer
  • International Audit Campaigns
  • Civil Enforcement Efforts
  • Foreign Bank Accounting Reporting
  • Who is required to file an FBAR?
  • FBAR Penalties for Non-Compliance
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

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

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Practice Owners
  • CFO/Controller
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Outsourced CFO
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CE Credit of Taxes for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0155)
  • 1.5 CRE Credit for Certified Financial Examiner (CFE)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1.5 CPE Credit for Certified Valuation Analyst (CVA)
  • 1 CE Credit of Federal Tax Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-00188-20-O)
  • 1.5 CE Credit of Federal Tax Related Matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-00188-20-O)
  • 1.5 CE Credit of Federal Tax Related Matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-00188-20-O)
  • 1.5 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1.5 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1.5 CE Credit for Certified Wealth Strategist (CWS)
  • 1.5 General Credit for Accountant/Bookkeeper/Tax Professionals

Additional details

  • Course Level :
    Basic
  • Credits :
    1.5
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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.

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.

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.

Presenter

About Presenter

Matthew Lee, JD, MST

Partner, Fox Rothschild LLP

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.

About Company

Fox Rothschild LLP

www.foxrothschild.com/

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

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.7

1132 Ratings

Excellent

807

Very Good

270

Average

50

Poor

4

Terrible

1

CC

Christine Cappadona, CMA, CPA (US)

Dec 10th, 2020

I thought the class was good & the instructor did a great job. The only issue I have is that 1 CPE credit = 50 min. This should have been a 1 hr 15 min class for 1.5 CPE credits (50 mim +25min). I booked webinars back to back as I was waiting for live CPE which never happened so I have to do webinars to get the rest of my credits. The instructor went over 1.5 hrs & made me miss the next class I was scheduled for.

MS

Melvin Streisand, CPA (US)

Dec 10th, 2020

THIS CLASS WAS MOST HELPFUL IN GIVING ME INSIGHT AS HOW TO HANDLE AN EXISTING CLIENT. I MIGHT EVEN BE CALLING LEE TO PUT THE FINAL TOUCHES ON THE CASE. THANK YOU LEE. MEL STREISAND

SB

Samuel Bloomberg, CPA (US)

Oct 28th, 2020

The speaker was very knowledgeable about the foreign financial FBAR Reporting topics! I learned alot about this area, he is definitely the go-to for this kind of information

CK

Christine Kryszko

Jun 23rd, 2020

I still give it a five star, even though we ran out of time, because of all the valuable information I took away from this webinar.

MC

My CPE, EA

Dec 8th, 2020

Thanks for another great webinar! The material provided is pleasantly in depth for use as reference material in the future.

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

FREE

1.5 Credits

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Taxes

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