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Monday, September 14, 2020 Webcast

Understanding the Foreign Account Tax Compliance Act (X1-FOR1-2020-01-WEBNR-258-01)

10:00 AM - 12:00 PM EDT
webcast

Webcast

2.0 CPE Credits in TX

OVERVIEW

The Foreign Account Tax Compliance Act (FATCA), enacted to target noncompliance by U.S. taxpayers with certain foreign financial accounts and offshore assets, requires U.S. citizens and residents who own certain foreign financial accounts and offshore assets to report those accounts and assets on Form 8938.

DESIGNED FOR

Tax professionals advising clients with respect to foreign account reporting.

BENEFITS

  • Complete Forms 8938 accurately and correctly
  • Advise clients with respect to foreign asset required reporting

HIGHLIGHTS

  • Taxpayers required to file Form 8938
  • Specified foreign financial assets reportable on Form 8938
  • FATCA reporting thresholds for those individuals living in the United States and those living abroad
  • FATCA treatment of jointly owned reportable assets
  • Meaning of a reportable “interest” in a specified foreign financial interest
  • Valuing specified foreign financial assets
  • Notable exceptions from the requirement to file Form 8938
  • Mechanics of filing Form 8938
  • Penalties for failure to file
  • Form 8938 and the FBAR
  • Foreign Institutional reporting under FATCA

COURSE LEVEL

Intermediate

PREREQUISITES

Basic understanding of individual income tax rules.

ADVANCE PREPARATION

None

INSTRUCTOR

Michael Tucker

Michael J. Tucker, CPA, Ph.D., J.D., LL.M.

Ph.D., JD, CPA

Professional Education Network

Michael J. Tucker is an employee of Surgent McCoy CPE, LLC and a consultant for the accounting firm of T.M. Byxbee Co. in Hamden, CT. He is the author of many professional articles and a veteran TV and live-seminar presenter. In addition, he heads up Surgent McCoy's webinar efforts, where he writes and hosts many of the webinars Surgent McCoy sponsors and presents. Mr. Tucker was a professor at Quinnipiac University in Hamden, CT and worked with KPMG Peat Marwick and Deloitte & Touche. Mr. Tucker received his J.D. from New York University, his LL.M. from Georgetown University Law Center, and his Ph.D. from the University of Houston.

PRICING

$79.00 - Member

$89.00 - Non Member

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Note: Online pre-registration will close on September 14 at 9:30 AM.

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COURSE DEVELOPER

Surgent

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