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Improving U.S Accounting Standards in connection with FATCA & PFIC rules: Seminar to CPAs

- UTC

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The presentation will provide an overview of the tax issues related to investing in passive foreign investment corporations. This course will help CPA professionals understand the tax pitfalls of investing in Israeli securities.

The presentation will explain how FATCA, OVDP and other IRS enforcement programs compel U.S. accountants in Israel to comply with minimum ethical standards, thereby making it inadvisable to rely upon Israeli Form 867 or ignore PFIC compliance. 
Mr. Feldman will discuss the economic benefits to all U.S. accountants in Israel of collaborating to raise the standards of practice, opening the floor to suggestions as to how to accomplish this.


Course Objectives
To provide an overview of the tax issues facing U.S. persons investing abroad and how U.S. accountants can better help their clients.

Learning Outcomes
Participants will be able to:
• Explain the tax pitfalls of investing in Israeli securities.
• Explain how FATCA, OVDP and other IRS enforcement programs affect the minimum standards for U.S. accountants in Israel.
• Identify the dangers of relying on Israeli Form 867.
• Explain the structural impediments to increasing the minimum standards of U.S. accountants in Israel, and how might they be overcome.
 
This course qualifies for 2 CPE credits in the field of tax. 

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