Taxpayer Weekly Webinar Discusses Foreign Assets, Foreign Banking and IRS Compliance Starting December 9, 2014

Birmingham, MI December 2, 2014 - Weekly webinar helps taxpayers learn more about FATCA compliance, OVDP and options to alleviate IRS compliance fears presented by Jeffrey S. Freeman, J.D., LL.M of Freeman Tax Law Foreign banking and foreign assets has been under intense scrutiny and the Foreign Tax Compliance Act (FATCA) passed in March 2010 has complexities many US taxpayers do not quite understand. If you are an account holder with foreign financial institutions you are required, as is your foreign financial institution, to report your foreign assets to the IRS. Offshore bank account holders are required to stay in compliance with the IRS regarding existing accounts and assets. Having a foreign bank account or assets that have not been properly disclosed could expose you to large civil and criminal fines and penalties. Foreign Bank Accounts and Tax Implications Foreign banking has been under intense scrutiny over the past several years and the roll out of the Foreign Account Tax Compliance Act (FATCA) provides a new complexity that account holders are still working to understand. Having a foreign offshore bank account or assets that have not been properly disclosed could expose you to large civil and criminal fines and penalties. [...]