This course details options for curing prior year tax/information reporting failures in the international context. It provides details on special provisions for reporting foreign-sourced income on United States tax returns (which often create retroactive issues) and review of information reporting requirements.

This course covers the following Topics:
>> Understand how foreign-sourced income is reported on United States returns and how foreign assets are reported for information purposes
>> Learn in detail how submissions are made under the Streamlined Filing Procedures, and general considerations for a submission/qualification
>> Learn in detail how submissions are made under the Delinquent FBAR/International Information Return Submission Procedures, and general considerations for a submission/qualification

Learning Objectives
  • Identify and understand how foreign-sourced income is reported on United States returns and how foreign assets are reported for information purposes.
  • Discover and learn in detail how submissions are made under the Streamlined Filing Procedures, and general considerations for a submission/qualification.
  • Discover and learn in detail how submissions are made under the Delinquent FBAR/International Information Return Submission Procedures, and general considerations for a submission/qualification.
Last updated/reviewed: March 14, 2024
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction5:35
  Income Tax Reporting12:56
  How Submissions are Made under the Streamlined Filing Procedures13:38
  How submissions are made under the Delinquent FBAR and IIR Submission Procedures20:32
CONTINUOUS PLAY
  Retroactive Relief Options for International Tax Compliance Errors52:41
SUPPORTING MATERIAL
  Slides: Retroactive Relief Options for International Tax Compliance ErrorsPDF
  Retroactive Relief Options for International Tax Compliance Errors GlossaryPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam