NYU's 69th Institute on Federal Taxation
International Tax Compliance and Transparency - A Whole New World, San Diego, CA
Tax Partner Kevin Packman spoke at the New York University School of Continuing and Professional Studies' 69th Institute on Federal Taxation on a panel titled, "International Tax Compliance and Transparency - A Whole New World."
The panel discussed several of the far reaching provisions of United States tax and other laws that require information disclosure and other compliance obligations relating to international transactions. The discussion focused on the recently enacted Foreign Account Tax Compliance Act, as well as the Proposed FBAR Regulations that were issued in March 2010 and the OECD Global Forum on Transparency and Exchange of Information. Additionally, the panel provided an update on the status of the IRS Offshore Income Reporting Initiative, as well as current options for taxpayers with noncompliance.
Mr. Packman has prepared an outline for the event, containing a broad overview of the UBS scandal that led the IRS to announce the IRS Offshore Income Reporting Initiative. Please see the attachment below.