Date
June 10, 2022
Presenters
Senior Manager
Description
Location: Embassy Suites by Hilton San Antonio Landmark 5615 Landmark Pkwy, San Antonio, Texas
Rita will be speaking on the following topics:
2022 International Topics to be Aware Of – June 10 at 10 AM
This course will provide tax compliance professionals with and update as to what to keep an eye out for in the international space both for the 2021 tax returns, as well as for the 2022 tax year. We will focus on the updates to international reporting including Schedules K-2/K-3, Form 8858 reporting, as well as foreign owned disregarded entities and cryptocurrency. We will also review the recent updates to the Forms W-8, the 2022 inflation adjustments, as well as what to expect for the 2022 reporting i.e. country-by-country reporting, recent updates to PFIC and CFC reporting by domestic partnerships and updates the global minimum tax and the digital services tax.
Form 8938/FBAR – June 10 at 1 PM
This course will provide an in depth review of the Foreign Account Tax Compliance Act (FATCA) and the required reporting for those taxpayers holding foreign assets, as well as the Foreign Bank Account Report Form.
In this course, we will:
- Review the statutory provisions requiring reporting and key concepts for each form
- Review the forms by section and review key instructions and exceptions
- Discuss the IRS’ and Treasury’s stance on reporting digital asset/crypto on these forms
- Review filing requirements and how to avoid costly mistakes and large penalties
- Review available options for remediation
Schedule K-2/K-3 – June 11 at 8 AM
This course will discuss new required Schedules K-2 and K-3 for reporting partners’ income, deductions, and credits from foreign activity as well as other items of international tax relevance. We will discuss prior reporting, the impetus for the change in the forms, and we will review the Schedules K-2/K-3 in detail. We will also review who must file these new forms, the changes and limited relief the IRS has provided, and additional limited guidance available. Finally, we will discuss the penalty relief available to taxpayers in this space.
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