Bryan C. Skarlatos Presented at 2016 AICPA Conference on Tax Strategies for the High-Income Individual

Session 23: Tax Practice and Procedure: Tips for Dealing With the IRS

When it comes to dealing with the IRS, knowing the rules of engagement can be critical to protecting your client’s rights and pocketbook. Whether it is responding to inquiries, IRS examinations or assisting clients to come into compliance with offshore income reporting, there are times when the approach the tax accountant takes must be more limited than that available to the attorney. This session shared insights and best practices about:

  • Common issues in audit representation; attorney vs. accountant differences
  • Limitations of non-attorney practice
  • When the accountant needs to have an attorney guard his or her back

Session 38: Procedures and Penalties for Disclosing Unreported Foreign Assets: An Update

The number of taxpayers with unreported foreign accounts, corporations, and other assets is staggering. This session reviewed alternatives for disclosing unreported foreign assets and how to choose the best strategy for different situations. Topics covered:

  • What the IRS is doing now to find and pursue taxpayers who have not reported foreign assets
  • How to evaluate a client’s level of risk for large FBAR penalties or even criminal prosecution
  • When to advise a client to make a voluntary disclosure, a streamlined submission or file amended returns

The conference was held from May 24 - May 25, 2016. Bryan C Skarlatos will be presented on May 25th, session 23 was held from 8:10am - 9:25am and Session 38 from 1:30pm - 2:45pm.