With new funding, the IRS will aggressively scrutinize taxpayers with foreign accounts and income. Tax professionals must identify the pitfalls of the new world of global financial transparency and learn the reporting requirements of international income and asset reporting.
Also, learn about intergenerational transfer of property focusing on what you should know about trusts and estates.
DESIGNED FOR
All CPAs and tax professionals
BENEFITS
- Learn best practices for international tax compliance of foreign income and assets as well as planning opportunities and traps to avoid.
- Understand the fundamental legal principles to accomplish desired tax results and client objectives.
HIGHLIGHTS
- Best practices for compliance of foreign asset disclosure: who needs to file, assets that must be reported and the potential liability of the taxpayer and tax preparer
- Solutions for non-compliant taxpayers
- Basic principles of trusts and estates, tax elections, property ownership and the types of trusts commonly used
COURSE LEVEL
Basic
PREREQUISITES
None
ADVANCE PREPARATION
None