Passive Foreign Investment Companies & Int'l Tax Monsters
IRS Program #: X9QQU-T-00782-21-O/S
Speaker: Mary Beth Lougen, EA, USTCP
Knowing what questions to ask is key to identifying which clients may be subject to additional IRS reporting as a result of foreign income or assets. Missing these requirements can leave your clients exposed to very large international penalties and forever open statutes of limitations. This course will discuss international reporting requirements for taxpayers from a practical point of what questions to ask- and more importantly- how to properly respond to the answers.
- Be familiar with which foreign assets or income trigger special reporting
- Learn how phrasing of questions can make a difference in client responses
- To be able to identify clients with international filing requirements
- Understand when your client may have assessable penalty exposure
This course qualifies for IRS Continuing Education Hours. NAEA reports IRS CE on a monthly basis. If you have not received your CE Hours in your IRS PTIN Account by the end of the month after receiving the certificate, please contact NAEA at firstname.lastname@example.org.
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