IRS Tax Enforcement and International Compliance

Reporting and disclosure are the fundamental tools used by governments to enforce their domestic tax laws. In recent years, the U.S. federal laws requiring reporting and disclosure -- including the Corporate Transparency Act of 2022 -- have been dramatically expanded and the civil penalties for failure to comply with such laws have been substantially increased. This session details the numerous tools available to the IRS for obtaining information on U.S. taxpayers’ holdings. It will also review U.S. federal reporting and disclosure obligations applicable to international investment and transactions and the penalties for failure to comply with those obligations. What You Will Learn Taught by two practitioners with particular expertise in income, estate, and gift tax planning for domestic and international clients, this 75-minute webcast will explore: IRS enforcement tools Corporate Transparency Act Common international tax forms Statute of limitations and its exceptions IRS penalties