We are pleased to announce that Igor Drabkin will be speaking at the upcoming Strafford Publications webinar “FATCA Reporting: Filing Form 8938 for Taxpayers With Foreign Assets, Integrating Latest IRS Guidance” on Monday, March 11, 2024.
The Foreign Account Tax Compliance Act (FATCA) continues to challenge tax advisers and compliance professionals. As information-sharing agreements between the U.S. and foreign governments increase, the IRS has modified the FATCA reporting regime. Form 8938 requires taxpayers to disclose ownership interests in specified offshore assets or risk monetary penalties or prosecution. The full-scale implementation of the foreign financial institution reporting regime imposed by FATCA gives the IRS even more information to reconcile taxpayer filings, increasing the Service’s ability to track foreign asset holdings and detect noncompliance.
Igor will be co-presenting this webinar with attorney Usman Mohammad of Kostelanetz. Speakers will provide tax advisers with a practical guide to FATCA reporting for taxpayers holding foreign assets. The panel will define reportable specified foreign assets, discuss valuation issues, and offer thorough instruction on completing Form 8938, Statement of Specified Foreign Assets. The webinar will explain the latest changes to Form 8938 and review IRS guidance for reporting requirements. The panel will review these and other noteworthy issues:Who must file Form 8938
- What to report on Form 8938
- Final regulations that apply reporting requirements to specified domestic entities
- The overlap of FATCA reporting with foreign bank account reporting
The webinar will be held on Monday, March 11, 2024, 10 a.m.-11:50 a.m. PST (1 p.m.-2:50 p.m. EST).
For more information or to register > or call 1-800-926-7926 (ask for FATCA Reporting: Filing Form 8938 on 3/11/24 and mention code: TA1N21-K9NVAZ)