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Reporting Foreign Accounts & Assets: FBAR vs. Form 8938

REPORTING FOREIGN ACCOUNTS & ASSETS: FBAR VS. FORM 8938

Cost $25.00
Presentation Length 2.0 hours

Recorded DateAugust 13, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

Do we really have to file both the FBAR and Form 8938?!  This session distinguishes between foreign accounts and foreign assets, reviews reporting thresholds, outlines the harsh consequences for non-compliance and provides a comparison of relief programs.  Learn what to do to ensure that your clients satisfy their reporting obligations and what to do if they don’t.

Learning Objectives
Upon completion of this course, you will be able to:


  • Identify when a taxpayer has a foreign reporting obligation.

  • Recognize the overlap of reporting mandates stemming from regulations enacted decades apart.

  • Compile the information necessary to properly report foreign accounts and assets.

  • Implement best practices to help clients avoid penalties and potential criminal prosecution.

  • Understand the options available to those who have been non-compliant.




Testimonials:

Here’s what I look for in an instructor: A person engaged in the topic and in the students so that the course becomes a dynamic learning experience since one doesn't want to end up with eyes-crossed and a migraine. Indeed, I felt energized after Monica’s class.  I felt as though I now have knowledge that will make me better in my practice.  This is my third class with this awesome instructor this year.  Monica has a depth of knowledge and experience that clearly shows in her materials and in her well-paced presentations.  And as a bonus, Monica always refers attendees to her website for supplemental information that she is available at no charge. Just click and read. [Bonnie H.]

I have no doubt that Ms. Haven would be an asset to any class for her creative and succinct analytical skills, an asset to any institution for her principles and loyalty, and most importantly an asset to her profession for her literacy, honesty, ethics, and dedication. [Ron R.]

Since I do not generally deal with estate tax matters, I was going to listen to the webinar only because I know Monica. But the topic became of interest because of how she presented it. She was succinct, thorough, and simply excellent. Man, did I learn something! And I enjoyed every bit of it. Monica filled a void in my areas of expertise and did a great job. [LG B.]
 

Not logged
PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE

Monica Haven, EA, JD, LLM

Monica Haven
Tax Professional
mhaven@pobox.com
(310) 286-9161

Licensed since 1988, Monica Haven is an Enrolled Agent, an Accredited Tax Advisor, and Accredited Tax Preparer. She is also a graduate fellow of the National Tax Practice Institute, a nationally recognized academic program designed to develop and hone the skills necessary for effective taxpayer representation.  Monica has a Bachelor of Science degree in Small Business Management with an emphasis on New Ventures and a Doctor of Law (J.D.) and a Master of Laws in Taxation (LL.M.) from Loyola Law School in Los Angeles.

Monica has been a long-term and active member of numerous professional organizations, including the National Association of Enrolled Agents, the National Society of Accountants, the National Association of Tax Practitioners, the National Society of Tax Practitioners, the California Society of Enrolled Agents, the California Society of CPAs, and the California Society of Accounting and Tax Professionals, as well as the Los Angeles County Bar Association, the Young Tax Lawyers Committee, and the Tax Law Society.

With decades-long experience as a solo practitioner, Monica is only too eager to share her expertise in the classroom and does so routinely. She is a recognized speaker on the "professional" circuit and a welcomed guest lecturer on college campuses and community organizations.  Happy when she is working to resolve client issues, busy preparing returns, or buried beneath a mountain of regulatory and bureaucratic paperwork, Monica amasses a wealth of real-world experiences and humorous anecdotes, which she exploits unabashedly to make her course materials less dry, more memorable, and fun.  She knows she has succeeded when her students comment, "I wish you had been my teacher when I learned accounting; I would have learned so much more and enjoyed it.”  [See what others have said at www.mhaven.net.] Truthfully, Monica is torn and cannot decide whether she prefers teaching or taxation.  She’s happiest when she doesn’t have to choose and gets to teach tax!

About Our Presenter

Mhaven
Although California-based, Monica Haven’s firm serves the needs of domestic and international clients scattered throughout the world from Austria to Zimbabwe. Okay, so we don’t really have clients in the South African nation, but it sounds better than to state that our client base includes everyone from A to Z.  But we do have a client in Gabon (that’s in Africa) and we have others in Central America, Asia, and all over Europe.  Someday, we hope to brag that we have clients on all seven continents.

With the help of diligent support staff and a large research library, we guide our clients through a full range of tax planning and preparation decisions.  We invite you to visit the company’s website where you’ll find:
  • Information about Credentials held and Services provided.
  • Newly published student texts and reference manuals.
  • Specialty pages dedicated to all things foreign, estate & gift taxation, senior, and small business issues.
  • A Peer2Peer page designed to make things a bit easier for fellow practitioners.
  • A How to... page to which you may refer your clients when they ask how to reach the IRS, order tax forms, pay online, check on refunds, amongst many other common queries.
And if you’re in the mood for some fun stuff, be sure to click on the happy face at the top of any page.