Description
Be aware of potential filing and reporting obligations and be equipped to comply with them.Congress and the Internal Revenue Service continue to increase filing and information reporting requirements on U.S. persons who own interests in foreign entities, transact business with foreign entities and conduct business abroad. The categories of U.S. persons who are obliged to make these different filings, and the information required by these filings, continuously grows in sweep and complexity. The penalties that can be imposed on U.S. persons who fail to comply with these requirements are among the most severe in the Internal Revenue Code. Added to this is an everincreasing focus by the Internal Revenue Service on international tax compliance. Finally, the use of the partnershippassthrough form of entity has exploded over recent years. This combination of more reporting, more complexity, more compliance and greater potential penalties is a potentially toxic brew for the unprepared taxpayer and tax advisor. This topic will help persons who deal with crossborder passthrough entities be aware of potential filing and reporting obligations and be equipped to comply with them.
Date: 2019-03-29 Start Time: End Time:
Learning Objectives