- Credits: 2
- Format: Self-Study eBook
- Field of Study: Federal Tax Law
- Author/Speaker: Jean Mammen, EA
|Course ID:||Advanced Preparation:||Experience Level:|
|EWTFM-T-01671-20-S | 6233-CE-0396||None||Overview|
|Published Date:||Program Prerequisites:||Other Course Formats:|
|© October 2020||Basic Understanding of Taxes||Self-Study eBook|
Today many people live or work outside their home country. Their tax and reporting situations can be complex. For legitimate reasons or not-so-legitimate reasons, U.S. persons - citizens or residents, or entities - may have foreign bank and financial accounts or interests. And they may be required to report the foreign accounts to the U.S. Treasury, whether or not they must file a U.S. tax return. This course provides tax professionals with the know-how to help U.S. persons, citizens, residents, and entities, to carry out their filing obligations and avoid potentially severe financial penalties.
- Preparing and filing the FBAR, as well as the knowledge required for the IRS Special Enrollment Examination (SEE).
After reading the course material, you will be able to:
- Identify persons who might have an FBAR report filing requirement.
- Determine who does meet the FBAR report requirement.
- Assist clients in any required filing, or, file as the authorized representative.
- Ensure that all clients with a potential FBAR report requirement correctly determine whether or not they meet the required threshold understand what data must be gathered, assessed, and entered.
- Understand the high potential penalties if a required FBAR report is not filed.
Who Should Attend:
- All Certified Public Accountants (CPAs)
- Enrolled Agents (EAs)
- Tax Return Preparers (TRPs)