IRS Trouble: International Penalty Abatement by Eide Bailly

Are you a U.S. citizen, green card holder, or U.S. tax resident who owns assets outside the U.S.? If so, do you know and understand the complicated filing requirements of reporting these assets to the U.S. authorities and the applicable civil and criminal penalties for failure to disclose these assets? Offshore compliance remains a top priority for the IRS. Filing the appropriate forms correctly by their due date can be complicated and overwhelming. And filing international tax forms incorrectly or not at all can subject you to large civil and sometimes criminal penalties. This webinar will outline the many different foreign asset reporting requirements and their related penalties for failure to comply. If you have not been filing the necessary forms disclosing these assets, we will discuss some of the amnesty programs the IRS has available to assist taxpayers to come clean reporting these assets for prior years and going forward.

Learning Objectives:

• Explain the FBAR obligations.
• Discuss the US reporting obligations in foreign entities.
• Define the US reporting obligations of being an owner or beneficiary of a foreign trust.
• Identify Offshore Voluntary Disclosure requirements.

Presenters:
Ben Peeler, J.D., CPA, LL.M., Partner-in-Charge of IRS Tax Controversy Services | Eide Bailly
Ben joined the firm early in 2014 with many years of tax experience, both as an attorney and an accountant. He specializes in federal tax, controversy and procedure work, assisting clients in the areas of income tax, estate and gift tax, property tax, sales and use tax, estate planning and many other tax matters. Ben's vast experience includes representing clients before the IRS, as well as representing the IRS before the US Tax Court and during litigation before the federal district courts as a special assistant to the United States Attorney. Today, Ben leads the firm's IRS Practices & Procedures as a federal tax, controversy and procedure specialist and serves on Eide Bailly's National Tax Office team that is committed to helping clients resolve their tax issues.

Jared Johnson, EA, Principal, Director of Global Mobility Services | Eide Bailly
Jared is an international tax specialist who focuses on helping company clients manage the various domestic and international tax issues that come with moving employees across international borders to work. Jared also assists individual clients with cross-border issues related to tax/estate planning and compliance services. He has experience working for the Big Four and is a recognized leader in this field.

CPE Information
CPE Credit: 1
Field of Study: Taxes
Level of Knowledge: Overview
Delivery Method: Group-Internet Based

Additional Information: This is a Group-Internet Based Webinar. No prerequisites or advanced preparation required. For information regarding a complaint and/or program cancellation policies, please contact Amy DeGeorge.