So, My Client Didn't Report Foreign Assets to the IRS. What Now?

Tax attorney Andrea Darling de Cortes hosted a webinar about what to do when a client has failed to report foreign assets to the IRS. She explained the purpose of various international information returns (Forms 5471, 5472, 8865, 3520, 3520-A, 8938, 8840, 8854, 926 and FBAR), related penalties for noncompliance as well as options for remedying said noncompliance (e.g., VDP, Streamlined Procedures, Delinquent FBAR Submission Procedures, Service Center filings). She also discussed strategies for requesting penalty abatement and asserting reasonable cause.

Duration: 58:57

Other recordings in this series:

• What You Should Know About U.S. Sanctions Imposed on Russian Elites, Proxies and Oligarchs
• IRS Appeals Update
• The Supreme Court Punts in In re Grand Jury. Where Does That Leave Attorney-Client Privilege and Tax Advice?
• What You Need to Know About the New IRS Approach for Approving Advance Pricing Agreements and Renewals
• Tax Legislative Update