FBAR Filing 1: What? Who? Steps

  • Credits: 2
  • Format: Self-Study eBook
  • Field of Study: Federal Tax Law
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  • 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
COURSE DESCRIPTION

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.

Topics include:
  • Preparing and filing the FBAR, as well as the knowledge required for the IRS Special Enrollment Examination (SEE).

Learning Objectives:

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)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:
NASBA
IRS
CTEC