Reporting Foreign Income and Assets

Course Description:

Reporting of foreign assets, accounts, and income are now high on the agenda for the IRS, and severe penalties may be imposed, even for innocent missteps. The complex nature of the requirements, coupled with a lack of familiarity shared by many taxpayers and practitioners makes these issues particularly important today. This course is designed to provide you with the tools necessary to tackle these issues effectively and efficiently.

Learning Objectives:

In this course you will learn about the various requirements for reporting foreign income and assets.

• Recognize the basic rules for income tax reporting of foreign earned income.
• Learn about the new foreign financial asset reporting requirements on IRS Form 8938
• Understand the newly-emphasized "FBAR" filing requirements for foreign financial accounts.

Duration: 100 minutes
Who Should Attend: All tax practitioners advising individual and business clients
Course Level: Intermediate
Prerequisite: None
Advance Preparation: None
Delivery Method: Self Study - Internet Based
CTEC: 6209-CE-0035
NASBA: 116347
IRS CE: UBWMF-T-00211-21-S
Expiration: In accordance with NASBA standards, access to this course will terminate one year from the date of purchase. Incomplete courses will no longer be accessible beyond the one year deadline.

Last Modified: 04/27/2021