Advocating for your Client in issues flowing from the Foreign Account Tax Compliance Act (FATCA)

$49.00

Target Audience: CPAs, EAs, Annual Filing Season Program Participants
Field of Study: Taxation (NASBA); Federal Tax/Tax Related Matters (IRS)

IMPORTANT INFORMATION REGARDING CONTINUING EDUCATION CREDIT: THE IRS ACCEPTS THIS SEMINAR FOR ONE (1) CONTINUING EDUCATION CREDIT FOR ENROLLED AGENTS (EA) AND ANNUAL FILING SEASON PROGRAM (AFSP) PARTICIPANTS. Others, PLEASE CONSULT WITH YOUR RESPECTIVE STATE LICENSING AGENCY REGARDING ACCEPTABILITY OF THIS CREDIT.

Note: the credit received from this seminar qualifies as continuing education that is required to obtain the voluntary AFSP – record of completion. however, this website does not offer the AFSP annual federal tax refresher (AFTR) course.

IRS COMMUNICATIONS AND LIAISON IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. STATE BOARDS OF ACCOUNTANCY HAVE FINAL AUTHORITY ON THE ACCEPTANCE OF INDIVIDUAL COURSES FOR CPE CREDIT. COMPLAINTS REGARDING REGISTERED SPONSORS MAY BE SUBMITTED TO THE NATIONAL REGISTRY OF CPE SPONSORS THROUGH ITS WEBSITE: WWW.LEARNINGMARKET.ORG

DISCLAIMER: THIS SEMINAR WAS FILMED IN Dallas, Texas, ON July 26, 2017, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.

Seminar Level: Beginner

The IRS Taxpayer Advocate Service presented this seminar at the 2017 IRS Nationwide Tax Forum.

This presentation will provide a brief overview of the legal and administrative background regarding FATCA, including withholding of fixed, determinable, annual and periodic (FDAP) payments to nonresidents. This seminar will cover the process of obtaining applicable refunds and how to advocate for taxpayers experiencing delays or other difficulties in these efforts. The National Taxpayer Advocate's 2016 Annual Report to Congress addresses this problem facing taxpayers.

By the end of this presentation, you will be able to:

  • Determine IRS Practices regarding Refunds of withholding reported on Forms 1042-S
  • Identify methods of effectively advocating for Taxpayers with frozen 1042-S Refund Claims
  • List the types of transactions impacted by FATCA
  • Identify FDAP income
  • List Reasons for adoption of FATCA

No prerequisites or advanced preparation are required for this seminar.