Foreign Bank Accounts & Assets

Duration: 120 Minutes
Many of our client's may have opened foreign bank accounts to avoid IRS scrutiny. This class will alert you to IRS enforcement efforts and the compliance requirements for foreign accounts. Since 2008 IRS has begun an aggressive enforcement program aimed at those with offshore accounts. Taxpayers, foreign bankers and foreign banks have been prosecuted. Even those avoiding prosecution can face penalties that exceed the value of their offshore accounts. Contemporaneously the IRS has offered various voluntary disclosure programs. The latest initiative was announced June 18, 2014 and offers various methods for taxpayers to correct omitted returns and income for foreign financial assets.
Foreign Bank Accounts & Assets
Instructor: Robert E. McKenzie
Product ID: 501554
Objectives of the Presentation
  • Become aware of tax filing requirement of taxpayers with foreign accounts
  • Learn the filing requirement of foreign trusts and their beneficiaries
  • Knowledge of the IRS current procedures for correction of foreign issues
Why Should you Attend
Attend this webinar to learn the best ways to assist noncompliant taxpayers based upon their individual facts and circumstances. You will also learn of the filing requirements for reporting offshore income and assets for foreign bank accounts, foreign trusts, foreign corporations and foreign partnerships. During the class you will also learn all the appropriate methods for correcting prior failures to file required returns.

Who can Benefit
  • Enrolled Agents (EAs)
  • CTEC Registered Tax Preparer (CRTP)
  • Certified Public Accountant (CPA)
  • Other Tax Return Preparers (OTRP)
  • Attorney
$300
Recorded Session for one participant
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  $450.00 Training CD
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  $550.00 Training USB Flash Drive
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For multiple location please contact our customer care team +1-510-857-5896.
How it works
Live Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • The webinar joining link, username and password for joining the webinar will be updated on your OCP Account 24 hours prior to the webinar
  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Robert E. McKenzie is a Partner of the law firm of Arnstein & Lehr LLP of Chicago, Illinois, concentrating his practice in representation before the Internal Revenue Service and state tax agencies. He has lectured extensively on the subject of tax representation. He has presented courses before thousands of CPA's, attorneys and Enrolled Agents nationwide. He has made numerous media appearances including Dateline NBC and The ABC Nightly News. Prior to entering private practice, Mr. McKenzie was employed by the Internal Revenue Service, Collection Division, in Chicago, Illinois. Robert served as a member of the IRS Advisory Council (IRSAC) which is a group appointed by the IRS Commissioner to provide advice to him and his management team (2009 - 2011). Mr. McKenzie was Vice Chair Professional Services of the ABA Tax Section (2003 - 2005). He is past Chairman of the Employment Tax Committee and past co-chair of the Task Force for Bankruptcy Legislation of the ABA Section on Taxation and past Chairman of the Chicago Bar Association Federal Tax Committee. He was Dean of the National Tax Practice Institute (1998-2002). Mr. McKenzie is the author of REPRESENTATION BEFORE THE COLLECTION DIVISION OF THE IRS and coauthor of REPRESENTING THE AUDITED TAXPAYER BEFORE THE IRS and REPRESENTATION BEFORE THE UNITED STATES TAX COURT. Mr. McKenzie has been selected for listing by Law and Leading Attorneys where he served on its Advisory Board. He has been elected to the American College of Tax Counsel and serves as Vice President of its Board of Regents.

Mr. McKenzie received his J.D. with High Honors from the Illinois Institute of Technology, Chicago Kent College of Law.


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