Foreign Trusts: Cleaning Them Up Webcast | 4173049A

Instructors

Date :
November 9, 2017 11:30 AM - 12:30 PM
Location :
Webcast
Facility :
Webcast Rebroadcast
Level of Difficulty :
Overview
Member Price :
35.00
Nonmember Price :
47.00
CPE Credits :
CPE 1.00, MCLE 1.00, IRS-TX 1.00, CTEC-TX 1.00
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Federal tax rules for foreign trusts are complex and compliance failures mean steep penalties. Identify the penalty risks that apply to foreign trusts, their settlors, trustees and beneficiaries—and different strategies for fixing the problems.

Materials are provided as an ebook.

Objectives:

  • Identify potential compliance and tax issues for your clients with foreign grantor and non-grantor trusts.
  • Determine issues surrounding transfers to and distributions from foreign trusts.
  • Select the appropriate method of fixing the trust, including resettlement, amendment and filing of late returns.

Major Subjects:

  • Compliance rules and penalties
  • Handling noncompliance
  • Penalty abatement
  • Decanting and fixing broken trusts

Advanced Prep:

None.

Misc. Information:

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Level of Difficulty:
Overview
Field of Interest:
Taxes
Prerequisites:

An understanding of trust filing requirements and preparation of trust returns.

Designed For:

CPAs and lawyers.

Instructors

Haoshen Zhong, Esq.

Haoshen Zhong is a lawyer working at HodgenLaw PC, where he works with CPAs in the firm to identify and classify unusual foreign assets. He is commonly asked to examine hair-splitting regulations and areas where the IRS has published scant guidance, then come to a conclusion about how to treat a foreign asset. He first worked with PFICs in the context of foreign insurance plans and from there expanded into other matters related to them. Zhong received his juris doctor degree from U.C. Hastings. Before joining HodgenLaw, he was a patent agent.

No Agenda or Materials posted.