Foreign Financial Accounts - Live Webcast Details
Webcast Dates and Times:
- 10/26/2021 - 12:00 PM EST
- 10/30/2021 - 4:00 PM EST
- 10/31/2021 - 4:00 PM EST
Webcast Course Description
The government crackdown on foreign accounts over the past several years has created uncertainty about taxation and compliance. This program sheds some lights on the topic. It provides an overview of foreign financial accounts, private banking in Switzerland, investments, asset protection, client responsibilities, and FATCA, (the Foreign Account Tax Compliance Act). It presents a thorough discussion of tax reporting and compliance, penalties for non-disclosure, and options available for remedying non-compliance. In addition, the presenters discuss tax preparation for foreign transactions, distinguishing between U.S. and non-U.S. persons for tax purposes, Nexus, disclosure and more.
Private Banking in Switzerland
- Why Switzerland?
- Swiss Vital Statistics
- What is a Private Bank?
- Diversification: Investments, Currency and Jurisdiction
- Bank Compliance
Compliance with FBAR Filing Requirements & Government Enforcement of Offshore Compliance
- Reporting Requirements Related to Offshore Accounts and Assets
- Foreign Bank Account (FBAR) Reporting
- FBAR Filing Requirements
- Other International Reporting Requirements
- Criminal and Civil Penalties ? FBAR Violations
- Willful or Non-Willful Penalty?
- Maximum Amount of FBAR Willful Penalty
- Non-Willful Penalty
- Recent Developments in Offshore Tax Enforcement
- Undisclosed Foreign Accounts ? What to Do?
- Voluntary Disclosure Resolution Framework
- Streamlined Filing Compliance Procedures
- Delinquent FBAR Procedures and Delinquent International Information Return Submission Procedures
- Alternatives for Voluntary Disclosure
- Audit and Litigation
Compliance in Cross Border Foreign Direct Investing
- US Persons Defined
- Reporting Primary Tax Filings
- Foreign Tax Credit Form 1118 & 1116
- Reporting Foreign Activity
Course Credit per State
VA - General: 1.0 Credits
Jacob Stein, Esq
Jacob Stein, Esq. is a partner at Aliant, LLP. He specializes in structuring international business transactions, complex U.S. and international tax planning and asset protection planning. Mr. Stein received his law degree from the University of Southern California, and a Master of Laws in Taxation from Georgetown University. He has been accredited by the State Bar of California as a Certified Tax Law Specialist. He is AV-rated (highest possible rating) by Martindale-Hubbell, has been named ?A Super Lawyer? by the Los Angeles Magazine and one of ?America?s Most Honored Professionals 2016?, by the American Registry.
Over the course of his career Mr. Stein has represented thousands of clients, including: officers and directors of Fortune 500 companies; Forbes 400 families; celebrities; Internet entrepreneurs; high-profile real estate developers, builders and investors; physicians; wealthy foreigners doing business in the United States; small business owners; attorneys, accountants and financial advisors; and many other individuals facing financial adversity or seeking privacy for their holdings.
He is the author of numerous books, scholarly articles and technical manuals including his most recent article, Pre-Immigration Taxation, published in the January 2016 edition of EB-5 Investors Magazine Volume 3, Issue 3; His other works include his book: A Lawyer?s Guide to Asset Protection Planning in California, Second Edition, published in April of 2016, which is the only legal treatise on asset protection specific to California, and International Joint Ventures ?A Concise Guide for Attorneys & Business Owners,? published in 2014.
Mr. Stein is a frequent lecturer to various attorneys, CPA and other professional groups, teaching over 100 seminars per year. His presentation topics include: Tax Planning for Cross-Border Joint Ventures, A Foreigner?s Guide to Investing in U.S. Real Estate, Creative Planning with Controlled Foreign Corporations, Advanced Asset Protection Planning, Choice of Entity Planning, Estate Tax Planning and various courses on trust law.
He is an instructor with the California CPA Education Foundation, National Business Institute, Thomson Reuters, the Rossdale Group and Lorman Education Services where he teaches courses on advanced tax planning, structuring international business transactions, asset protection and trust law. He is an adjunct professor of taxation at the CSU, Northridge Graduate Tax Program.