New York, NY, September 18, 2015 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Jason B. Freeman, Attorney, Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P. will speak at the Knowledge Congress’ webcast entitled: “Offshore Voluntary Disclosure Program (OVDP) : An Update Live Webcast.” This event is scheduled for October 28, 2015 from 10:00am – 12:00pm (ET).
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About Jason B. Freeman
Mr. Freeman is a tax and white-collar attorney, adjunct professor at Southern Methodist University’s (SMU’s) Dedman School of Law, and licensed CPA. He represents clients in litigation and pre-litigation proceedings, focusing on federal and state tax controversies and white-collar investigations and disputes, both civil and criminal. He also advises and assists clients with tax compliance.
His recent litigation experience includes serving as trial counsel in a criminal tax evasion and conspiracy jury trial in the Federal District Court for the United States Virgin Islands. In addition to his trial and litigation experience, Mr. Freeman represents clients in appellate matters, recently serving as lead appellate counsel in a case before the United States Court of Appeals for the Third Circuit in which he presented oral argument before the Court.
Mr. Freeman was recognized by D Magazine in 2015 as one of the Best Lawyers in Dallas for tax law. Also in 2015, Mr. Freeman received the Young CPA of the Year Award by the Texas Society of CPAs for significant contributions to the accounting profession and the community. He has also been recognized as a Texas Rising Star in Tax Law by Texas Monthly Magazine and as a Rising Star by the Texas Society of CPAs.
Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P.
Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P. is a Dallas based law firm that has provided business, tax and regulatory solutions to individuals and corporate clients since 1983. Meadows Collier’s litigation practice focuses on defending clients in investigations, litigation and other civil, criminal and administrative controversies with governmental agencies, including disputed individual, partnership, corporate, and estate tax issues, and regulatory and enforcement agency investigations. The firm also practices in the areas of Real Estate, Corporate and Securities, and Commercial Litigation. For more information about the firm visit www.meadowscollier.com or call 214.744.3700.
In June 2014, the Internal Revenue Service (IRS) modified its Offshore Voluntary Disclosure Program (OVDP) and unveiled new Streamlined Filling Compliance Procedures (SFCP). These changes provide new options for both U.S. residents and U.S. taxpayers residing overseas who need help with the U.S. tax obligations related to their offshore holdings.
Major changes to the SFCP include eliminating the requirement that taxpayers have $1,500 or less of unpaid tax per year. Also, penalties for eligible U.S. taxpayers residing overseas will be waived, and SFCP-eligible U.S. residents can qualify for a reduced 5% miscellaneous offshore penalty assessed on their offshore assets, which is much lower than the OVDP's base 27.5% penalty.
The IRS's OVDP changes include required upfront penalty payments, and all OVDP participants must now submit their foreign account statements for IRS review. And for foreign accounts at certain offshore banks, OVDP participants must now pay a 50% penalty in lieu of the base 27.5% penalty.
More than ever, U.S. residents and citizens holding offshore assets need proper legal advice to navigate the IRS's new offshore compliance labyrinth. New complexities and traps for the unwary abound.
In a two-hour live webcast, a seasoned panel of thought leaders and professionals assembled by The Knowledge Group will offer the audience an in-depth discussion of the legal issues and latest updates in offshore compliance. The speakers will also provide noteworthy insights on how to best comply with the updated OVDP and SFCP procedures.
Key topics include:
• Offshore Voluntary Disclosure Program (OVDP) - An Overview
• Modifications to the OVDP Program
• The Streamlined Filing Compliance Procedures
• Transitional Rules for OVDP Eligible Participants
• OVDP Closing Agreements
• Tax Relief for Qualified OVDP Participants
• Potential Civil and Criminal Penalties for Tax Reporting Failures
About The Knowledge Group/The Knowledge Congress Live Webcast Series
The Knowledge Group was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register for an event, please visit: http://theknowledgegroup.org/