March 1, 2023

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

Holland & Knight CPA Webinar Series

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

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