Complying with FATCA - The Foreign Accounts Tax Compliance Act
Duration: 90 minutes
Speaker: Miles Hutchinson
Webinar Description
FATCA was enacted by Congress in 2010 as part of the HIRE Act. It attempts to restore tax fairness by focusing on foreign financial assets of US Citizens that are not being properly reported and taxed. With the announcement of final regulations in February, 2013, the US Department of the Treasury and the IRS have been busy designing, implementing and executing intergovernmental agreements, new and revised forms, and instructions to force US citizens and foreign financial institutions into compliance. Donbt be the last one to find out what are your reporting and withholding obligations and donbt fall victim to the huge penalties that can accrue for noncompliance. Join us for a 90 minute webinar explaining this complicated new law and how to comply with your withholding and reporting obligations.
Miles Hutchinson, experienced CPA and financial analyst, will discuss the basic principles of FATCA, the affected businesses and individuals, and the new and revised forms to effect compliance. He will provide you with simplifying charts and tables to help you determine your steps to full compliance. He will also provide practical instructions and guidance for applying FATCA and will identify the key issues that will help you avoid potential penalties for noncompliance.
Agenda
-
What is FATCA
-
Who is affected b there is more to this than just the FFIbs
-
Briefing on the two Model Intergovernmental Agreements
-
Explanation of the impacts of FATCA on forms 1099, 8938, TD F 90-22.1 (FBAR),
-
Useful tables and charts for determining the definitions of foreign financial assets requiring reporting under FATCA
-
Exceptions to reporting
-
Penalty risks for noncompliance, including the extended statute of limitations
-
Case study b a tale of two offenders with significantly different outcomes
-
References to other rich resources to help you keep up-to-date
Logistics
- 90-minute webinar (Travel-Free) delivered over the Internet.
- Unlimited listeners per connection - bring the entire department.
- Q&A session with the expert.
This event will be presented live with a PowerPoint presentation to be viewed on your computer. You may listen to the audio of the webinar by telephone or through your computer. The PowerPoint slides will be provided shortly before the event. Once you register, you will receive an email which is your receipt and which includes your instructions for dialing in and logging on. You will also receive an email reminder 24 hours before the webinar.