LOYOLA LAW SCHOOL
TAX LLM PROGRAM PRESENTS:
REPORTING FOREIGN BANK AND FINANCIAL ACCOUNTS (FBAR): WHAT YOU NEED TO KNOW
ROBINSON COURTROOM
LOYOLA LAW SCHOOL 919 Albany Street, Los Angeles, CA 90015
TUESDAY, MARCH 16 | 4:30-6:00 P.M. with reception to follow
Thanks to the posting of a new version of Treasury Form 90-22.1, "Report of Foreign Bank and Financial Accounts" (known as the FBAR) by the IRS in late 2008, FBAR practice has been booming.
In general, U.S. persons and foreign persons with U.S. activity must report interest in foreign financial accounts and funds with an aggregate value exceeding $10,000.
This panel will discuss:
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The definitions of foreign accounts and financial interests and of U.S. activity
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The deadlines for FBAR filing: who may take advantage of extensions until June 30, 2010
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Application of rules to trusts and corporations, and to taxpayers who may not realize they are subject to FBAR
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Voluntary disclosure of undeclared foreign accounts
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Civil and criminal penalties for failure to file
Panelists:
Stephen Turanchik, Associate, Paul, Hastings, Janofsky & Walker LLP.
Paul Sczudlo, Law Offices of Paul A. Sczudlo.
Edward M. Robbins, Partner, Hochman, Salkin, Rettig, Toscher & Perez PC, Los Angeles.
Phil Hodgen, Principal, Hodgen Law Group PC, Pasadena.
Moderator:
Thomas Giordano-Lascari, Associate, Valensi Rose PLC.
For more information, please contact Jennifer Kowal at jennifer.kowal@lls.edu or 213.736.8349.
MCLE or CPE credit: 1 hour
$40 with MCLE or CPE credit
$20 with no MCLE or CPE credit
Students free
