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About this Program

The well-known Liechtenstein and Swiss banking scandals demonstrated the need for federal legislation to prevent U.S. citizens from hiding their funds abroad to avoid paying taxes. Congress responded through the Foreign Account Tax Compliance Act (FATCA) enacted in March 2010, which regulates American funds in overseas bank accounts and prevents individuals from engaging in tax evasion. In this course, Remy Farag, an international tax expert provides a comprehensive introduction to the Act and defines all difficult terms in this legislation.  In addition, Mr. Farag explains in detail the essential sections of the FATCA Guidance Notice issued in August 2010, as well as alerts viewers to the important effective dates in 2012 and 2013 for withholding provisions. Finally, the program concludes with an explanation of the different rules for pre-existing versus new accounts. Mr. Farag teaches tax attorneys and accountants everything they need to know to ensure that their client's funds in foreign banks are in compliance with all recent laws.

Learning Objectives:
I.    Understand the Importance of FATCA
II.    Explain the Difficult Terms within the Legislation
III.    Summarize the Essential Sections of FATCA
IV.    Understand the different rules for pre-existing versus new accounts
 

Instructional Method: Self-Study
Review Date: 9/28/2013
 
Required Components: Video and Written Materials
CPE Final Exam Required Passage Grade: 70%
Please Note: This course must be completed within 1 year of date of receipt of this course for CPE credit.

 

Reviews

Stephen F.
Niles, IL

Great job on a highly-complex subject.

Alison
New York, NY

good overview

David
Rossville, GA

Really excellent - well presented!

Angeles
Sunnyvale, CA

very effective!

Mary
Ny, NY

Succint and understandable. Thank you.

Joseph
Van Nuys, CA

Great information about new foreign tax compliance requirements that I have encountered with my clients.

Ari
Palo Alto, CA

Clear and at the right level of detail.

Edmond
Sylmar, CA

interesting

John
New York, NY

This was a good introductory course.

YOUNG
Smyrna, GA

very satisfactory

Robin
San Jose, CA

Very informative!!

Ricky
Medina, OH

Informative seminar

Rating

Presenters

Production Date

March 29, 2011

Advanced Prep

None

Credits

Alaska
1 General
Arizona
1 General
California
1 General
Missouri
1 General
North Dakota
1 General
New York
1 Professional Practice
Georgia
1 General
New Jersey
1 General
Illinois
1 General
CPE
2 Taxation
Enrolled Agent
1 General