This session, led by tax attorney Adam S. Fayne, will provide a comprehensive overview of compliance obligations related to foreign assets—including, but not limited to, foreign bank accounts, foreign corporations, foreign gifts and estates, and foreign partnerships. The session will address when taxpayers are required to report these foreign assets and the potential consequences of failing to do so in a timely manner. Taxpayers who do not meet their reporting obligations may face IRS enforcement actions. This session will also guide attendees on how to navigate related audits and enforcement proceedings.
Participants will gain a thorough understanding of:
Adam is a tax attorney who helps businesses and individuals with tax controversies before the Internal Revenue Service (IRS) and tax planning both domestically and internationally. He also handles a variety of white collar criminal matters, both federal and state, particularly involving civil and criminal tax fraud, including tax evasion, money laundering and offshore tax compliance. Adam's knowledge of tax law is informed by his former role as a Special Assistant U.S. Attorney with the Department of Treasury's IRS.