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UID:142984mad
DTSTAMP:20260421T024244Z
DTSTART:20270105T190000Z
DTEND:20270105T204000Z
SUMMARY: Don Farmer's Basics of Foreign Reporting for Individuals: How to Avoid Large Penalties (2 hours - late morning) - Webcast
DESCRIPTION: U.S. individuals with foreign financial accounts and assets face complex reporting requirements and potentially severe civil penalties for noncompliance. This focused 2-hour program provides a practical overview of key international reporting obligations for individuals\, including FBAR (FinCEN Form 114)\, FATCA reporting (Form 8938)\, and related information returns. Participants will review filing thresholds\, definitions of foreign financial accounts and specified foreign financial assets\, and common problem areas such as foreign trusts\, gifts\, and ownership of foreign entities. The course emphasizes penalty structures\, IRS enforcement trends\, and compliance strategies designed to help practitioners identify risks and guide clients in avoiding costly mistakes. Through practical examples and case-based discussion\, attendees will gain clarity on when reporting is required\, how forms interact\, and how to minimize exposure to significant penalties.
CLASS:PUBLIC
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