Update on International Tax Reporting Requirements and Penalties
About
This in-depth program provides comprehensive coverage of the tax implications for U.S. taxpayers with foreign income and assets. Participants will explore the complexities of reporting foreign income, compliance requirements for foreign asset disclosure, and strategies for minimizing tax liabilities under international tax treaties. The program addresses key areas such as the Foreign Account Tax Compliance Act (FATCA), the Foreign Bank and Financial Accounts (FBAR) reporting, and the taxation of foreign trusts. It also includes a discussion on the tax treatment of foreign earned income and the benefits of the Foreign Earned Income Exclusion (FEIE) and Foreign Tax Credit (FTC). The session features practical examples and case studies to help attendees navigate the intricacies of international taxation effectively and ensure compliance with both U.S. and foreign tax laws.
This webinar is available for Virtual or LIVE In-Person attendance.
The LIVE class will be held at:
Bergen Community College at the Meadowlands 1280 Wall Street West, Lyndhurst, NJ 07071
Tax Professionals that attend are encouraged to accept a pro bono tax controversy case assignment from NYCLA, an ABA-sponsored Tax Court Pro program or a NY or NJ low-income Tax Clinic.
4 Free NY & NJ CLE, CPE and 4 IRS CE/4 NASBA CPE Credits
IRS Program #: 7Q3WU-U-00595-24-O
When
Wednesday, June 26, 2024 · 8:00 a.m.
Eastern Time (US & Canada) (GMT -4:00)
Agenda
Identify the reporting requirements for U.S. taxpayers with foreign income and assets, including compliance with FATCA and FBAR regulations.
Explain the eligibility criteria and tax benefits of the Foreign Earned Income Exclusion (FEIE) and the Foreign Tax Credit (FTC).
Analyze the implications of international tax treaties on the taxation of foreign income and the strategies to minimize double taxation.
Evaluate the requirements for reporting foreign trusts and the tax treatment of distributions from foreign trusts to U.S. beneficiaries.
Determine the necessary steps for ensuring compliance with U.S. tax laws when dealing with foreign financial accounts and investments.