Ms. Shannon Smith, Partner, Withersworldwide to Speak at The Knowledge Group’s Up-Close Look at the New IRS Voluntary Disclosure Program

Top Quote The Knowledge Group, the leading producer of regulatory focused webcasts, has announced today that Ms. Shannon Smith, Partner, Withersworldwide will speak at its webcast entitled, “Up-Close Look at the New IRS Voluntary Disclosure Program. End Quote
  • (1888PressRelease) July 26, 2022 - This event is scheduled for August 4, 2022 from 12:00 PM to 1:00 PM (ET).

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    About Shannon Smith
    Shannon Smith is a highly regarded global tax controversy attorney who assists high net worth US and international individuals and families, corporations, and partnerships in resolving high-stakes, complex tax controversies. She frequently advises on foreign bank account reporting (FBAR) obligations, the Foreign Account Tax Compliance Act (FATCA), and the Internal Revenue Service's Voluntary Disclosure Program and Voluntary Disclosure Practice, Streamlined Filing Procedure and other means of resolving US income and reporting deficiencies.

    Shannon also represents clients in a broad range of tax, trust, estate, and business planning matters, from creating tax-efficient wealth transfer structures to addressing income tax issues arising from investments and operating businesses.

    About Withersworldwide
    Founded over 125 years ago, Withers is a leading international law firm for global businesses, their equity and debt stakeholders, and the executives who manage them. The firm is one of the largest tax law firms in the world and consists of over 180 partners supported by more than 1,300 people across 18 strategically located international offices.

    Our Private Client and Tax (PCT) division is the largest in the world, with over 300 people. We advise on domestic tax, estate planning, succession and mental capacity laws in the US, Europe and Asia, as well as facilitating our clients' philanthropic endeavors. We have immigration teams in the major financial centres and are well placed to deal with tax investigation and litigation cases. Real estate is very important to our clients, and we have a specialist residential and rural team.

    Event Summary
    The aggressive focus against tax evasion and other criminal activities around the globe is likely to continue. In the U.S., the crackdown on taxpayers who fail to report offshore financial assets and accounts remains to be a top priority for the Internal Revenue Service (IRS) Criminal Investigation Department, including non-compliant virtual currency that should be disclosed under the expanded cryptocurrency reporting.

    The stiffer penalties that await violators and non-compliant entities underscore the need for all concerned individuals to ensure reporting transparency and due diligence. They should also stay well-versed with the recent developments in foreign assets as well as current program options to ensure compliance considering the complex and evolving nature of the current disclosure system and requirements.

    In this LIVE Webcast, seasoned tax attorney Shannon Smith (Withersworldwide) will unravel the new provisions and hot issues in the new IRS voluntary disclosure program. The speaker will also provide the best compliance tips to mitigate risks and pitfalls.

    Key issues that will be covered in this course are:
    - New IRS Voluntary Disclosure Program: Legal Overview
    - How to Navigate Current Program Options
    - Necessary Tools and Best Practices to Mitigate Penalties
    - Best Options for Resolving Non-Compliance
    - Tips to Prepare for What’s Ahead

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