This session will cover the IRS’s enforcement efforts in the area of unreported foreign assets and the consequences for those taxpayers who maintain unreported foreign accounts. We will also cover the different pathways to compliance for a taxpayer that has previously not complied with his or her foreign asset reporting obligations, such as the IRS’s Offshore Voluntary Disclosure Program. Finally, this session will discuss the key issue of whether a taxpayer’s noncompliance was willful or merely negligent and why that matters.
A Review of the IRS’s Offshore Voluntary Disclosure Program and the IRS’s general Voluntary Disclosure Policy.
When should a taxpayer make a voluntary disclosure?
The risks and benefits of the IRS’s Streamlined Compliance Procedures for taxpayers with unreported foreign assets.
Sandra Dempsey ()
"This seminar was very well designed and clearly delivered. I do have a few resident alien clients who have rental properties in their native countries and foreign bank accounts. This helped to clarify questions that I have had in the past. Thank you for the presentation."EDWARD GRUDOWSKI (edward t. grudowski, cpa)
"This webinar was highly informative on a very relevant subject that can deeply impact a client's situation. Also, this topic is not always covered in tax seminars per se, yet is extremely important to know about!"Bendel Baterina (Block Advisors)
"He was very knowledgeable and on point. Liked the way he presented the webinar. Hope we get more of him."Art Castro (CPA , JD)
"This is a very helpful course for a tax practitioner having to deal with the IRS and foreign reporting."Julio Alarcon (Julio Alejandro Alarcon, LLC)
"Great seminar with a good deal of important information. Would love tho have a Q&A session afterwards"Tai Bui (TAI)
"The instructor is excellent. He is not only deep and broad knowledge but also great instructor."Rudolf Brown-Wynter (Wynter Financial Services, Inc)
"Lots of information and very well presented. Great webinar for all in the tax industry."QIAOXI LEI (ProTaxSolutions )
"Very Interesting and useful topic in reporting Foreign Assets. Excellent Instructor!"
Kostelanetz LLP
Partner
msardar@kostelanetz.com
(212) 808-8100
Michael Sardar has extensive experience in a wide range of tax controversy and white-collar criminal defense matters. Mr. Sardar represents clients in all stages of civil and criminal tax controversies before the Internal Revenue Service (IRS), state tax authorities, the Department of Justice, and local prosecutors.