FBAR and Tax Reporting for Foreign Assets: Best Compliance Practices You Need to Know
Over the past years, the Internal Revenue Service (IRS) has been continuously monitoring and implementing regulations for American citizens and residents with non-US financial accounts. However, with the changing landscape of offshore account reporting and the significant growth of civil and criminal penalties, challenges and pitfalls surrounding Foreign Bank and Financial Accounts (FBAR) and U.S. tax reporting are remarkably increasing.
In this LIVE Webcast, a seasoned team of thought leaders, professionals and practitioners brought together by The Knowledge Group will provide and present to the audience an in-depth analysis of the fundamentals as well as best compliance practices in FBAR and Tax Reporting for Foreign Assets. Speakers will also present key issues, trends and recent developments surrounding this significant topic.
Key topics include:
- FBAR and Tax Reporting for Foreign Assets: Framework
- Streamlined Disclosure Program
- Offshore Voluntary Disclosure Program
- New FBAR and OVDP Rules
- Developments and Modifications
- Scope and Limitations
Jeffrey B. Kolodny, Member
Alex Manasuev, Principal
U.S. TAX IQ Ltd
- FBAR and Tax Reporting for Foreign Assets: Framework - (Jeffrey Kolodny)
- FATCA Reporting - (Alex Manasuev)
- Streamlined Disclosure Program - (Jeffrey Kolodny)
- Offshore Voluntary Disclosure Program - (OVDP) (Alex Manasuev)
- New Trends and Developments - (Jeffrey Kolodny/Alex Manasuev)
- Takeaways - (Jeffrey Kolodny/Alex Manasuev)
- Questions & Answers - (Jeffrey Kolodny/Alex Manasuev)
Who Should Attend:
- US Investors with offshore assets
- Tax Preparers
- Tax Practitioners
- Tax Professionals
- In-house Counsel
- Private and Public Companies
Jeffrey Kolodny, a member of Cozen O’Connor’s Private Client Services Practice Group, concentrates his practice on complex international and domestic estate planning and administration, specifically wealth preservation through effective tax planning, structuring, and personal planning for high net worth individuals and multinational families. Jeff’s international practice focuses on advising U.S. citizens and residents with assets abroad, foreign nationals with property in the United States, and fiduciaries with assets in multiple jurisdictions. Jeff frequently counsels individuals regarding the reporting of their offshore holdings, and has guided clients in connection with their participation in the Internal Revenue Service's offshore voluntary disclosure program and the streamlined procedures, similar state and local programs, and the domestication of their offshore holdings. Jeff also represents fiduciaries and beneficiaries in accounting proceedings, will contests, and other Surrogate’s Court proceedings. He frequently counsels family-owned businesses regarding the development and implementation of business succession plans.
Jeffrey Kolodny, a member of Cozen O’Connor’s Private Client Services Practice Group, concentrates his practice on complex international and domestic …
Alexey Manasuev is a U.S. Tax Attorney and a Principal with U.S. Tax IQ, a boutique tax firm. Alexey’s practice covers various aspects of U.S. corporate and international tax, U.S. individual taxation, as well as transfer pricing. Alexey focuses on U.S. cross-border tax planning for U.S. and Canadian small and medium-size businesses and advises his clients on U.S. trade or business, permanent establishment issues, international and U.S. domestic mergers and acquisitions, restructurings, financing of U.S. and foreign operations, withholding and reporting requirements, and other related U.S. tax matters. Alexey has significant experience in assisting clients in evaluating and exploring procedural alternatives to become U.S. tax compliant, including guiding clients through the IRS Offshore Voluntary Disclosure Program and other applicable venues. Alexey is admitted to practice law in the State of New York, District of Columbia, before U.S. Tax Court, and is a Foreign Legal Consultant in Ontario (U.S. law).
Alexey Manasuev is a U.S. Tax Attorney and a Principal with U.S. Tax IQ, a boutique tax firm. Alexey’s practice …
Print and review course materials
Method of Presentation:
On-demand Webcast; Group-Internet Based
Experience in taxation laws
NASBA Field of Study:
Taxes - Technical
NY Category of CLE Credit:
Areas of Professional Practice
1.0 CPE; 1.0 IRS-CE
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About Cozen O'Connor
Ranked among the top law firms in the country, Cozen O’Connor has more than 675 attorneys in 26 offices across two continents. Clients rely on our lawyers’ comprehensive guidance in a broad range of matters, including private clients services, mergers and acquisitions, private equity and venture capital, securities, corporate governance and compliance, intellectual property, tax, labor and employment, real estate, and litigation. The firm represents global, Fortune 500 companies, middle-market organizations poised for growth, ambitious startups, and high net worth families and individuals both in the United States and abroad. The attorneys in our Private Client Services Practice Group assist clients in all areas relating to wealth management, wealth transfer, philanthropic giving, and business succession planning.
About U.S. TAX IQ Ltd
U.S. Tax IQ is a boutique tax firm with head office in Oakville (Canada) and presence in Toronto (Canada), Washington D.C., and Irvine, CA (United States). U.S. Tax IQ offers practical U.S. tax and cross-border tax consulting, planning, compliance, and tax return preparation services. U.S. Tax IQ advises and represents clients from Canada and internationally in all areas of U.S. tax law, including corporate and business taxation, international taxation, personal tax and wealth planning, and SALT (state and local taxes). The firm also represents high net worth individuals, professional athletes and coaches from major sports leagues (NBA, NHL, MLS). U.S. Tax IQ commits to providing people and businesses with smart tax advice and practical solutions for their U.S. tax and cross-border tax realities by leveraging the firm’s vast expertise in U.S. tax law and combining it with a personal touch.