Holtz, Slavett & Drabkin, APLC is glad to announce that Igor Drabkin will be speaking in an upcoming Strafford live webinar: “FBAR Requirements for Business Foreign Bank Accounts“.
The webinar is scheduled for Tuesday, December 3, 2013, 10:00 a.m. PST.
The Report of Foreign Bank and Financial Accounts (FBAR) is the most significant new reporting requirement for U.S. companies with foreign ownership handed down by the IRS in recent years. Companies holding $10,000 or less in a foreign bank or financial account must report those activities to the government. New electronic filing requirements, phased in during 2013 for FBAR Form TD F 90-22.1, present corporate tax pros with complex registration requirements and limitations on using tax preparers or outside software to assist in filing. Form 8938 reporting for foreign accounts adds complexity. Careful compliance with FBAR reporting requirements is the best defense against audits and enforcement actions by the Treasury Department. Enforcement activity has heated up recently, and companies can’t afford to be caught off guard by auditors. Penalties can reach $10,000 for a single unreported account.
Strafford panel will offer perspectives and guidance on these and other critical questions:
· When can corporate officers’ stake in foreign accounts trigger reporting responsibilities?
· What is the latest in IRS and FinCEN enforcement activity?
· What are the terms of the IRS voluntary disclosure program for companies required to file FBAR?
· How do Form 8938 filing requirements intersect with FBAR?
For more information or to register: Strafford Publications FBAR Webinar
Or call 1-800-926-7926 ext. 10
Ask for FBAR for Business Foreign Bank Accounts on 12/3/2013
Mention code: ZDFCT