Investment and Pass-Through Income Reporting Requirements (Including FBAR and FATCA) – 2019 Law – Self-Study (No Videos)
Reporting requirements for interest and dividend income have increased in complexity in recent years with significant changes to Forms 1099-INT, 1099-DIV and new foreign financial reporting procedures.
- Discussion of the different interest income types and their tax treatment including: ordinary, U.S. government bonds, tax exempt, OID, and distributable share of interest income from a partnership, S corporation or trust
- Rules relating to reporting dividend income
- Analysis of Schedule B Interest and Ordinary Dividends
- Nominee distributions of interest and dividend income
- Reporting requirements for foreign investment accounts
- Preparation of FinCEN Form 114 Report of Foreign Bank and Financial Accounts
- Offshore voluntary disclosure program
- Preparation of Form 14654 Certification by U.S. Person Residing in the United States for Streamlined Domestic Offshore Procedures
- Foreign Account for Tax Compliance Act (FATCA)
- Preparation of Form 8938, Statement of Specified Foreign Financial Accounts
- Procedures for persons who own Canadian retirement accounts
- Pass-through income reported on Form K-1
At the conclusion of this course you should be able to:
- Identify where and how to report interest and dividend income
- Describe filing requirements for Schedule B, Interest and Ordinary Dividends
- Distinguish between FBAR and FATCA reporting requirements with respect to overseas investments
- Complete Form 8938 Statement of Specified Foreign Financial Assets
- Complete Form FinCEN 114 Report of Foreign Bank and Financial Accounts
- Describe requirements for the Offshore Voluntary Disclosure Program with respect to undisclosed foreign financial assets
- Complete Form 14654 Certification by U.S. Person Residing in the United States for Streamlined Domestic Offshore Procedures
- Interpret income and deduction items shown on a Schedules K-1 issued by a partnership, s-corporation or fiduciary flier
- Complete Schedule E Page 2, to report pass-through income reported on Schedule K-1
Self-Study (No Videos)
2019 Tax Law
|IRS (Federal Tax Law)||3 Hours|
|Oregon Tax Board||3 Hours|
Field of Study
Basic tax knowledge
Self-study (No Videos)
IRS Federal Program Number
Meet Your Instructor
April Gutierrez, Enrolled Agent:
Known for her entertaining speaking style and ability to make a complex subject easy to understand, April is frequently invited to speak to business groups and news media on tax-related topics. She has a B.A. in Communication Studies from Murdoch University in Perth, Australia. She obtained her Oregon LTC in 1995.April resides in Portland, Oregon, with her husband Jess and their two sons. Her pastimes include gardening, travel, and playtime with her Arabian horse, Fancy.
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Basic Tax Law
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Prerequisites & Advance Preparation
Students intending to write the Oregon State Tax Exam, must be at least 18 years of age, and have High School Diploma or GED. Students using our self-paced internet based program should prepare for classes by downloading and printing course materials. For more information including detailed course descriptions and learning objectives, view the details of each course, located on Pacific Northwest Tax School’s catalog pages at: https://www.pnwtaxschool.com/list-of-all-courses/
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