Speaker: Mr. Dale W. Mason, CPA, and the Founder in 2019 of Dale Mason, CPA & Co.. Previously with the Wolf Group, and before then for many years with global accounting firms such as Arthur Anderson, PricewaterhouseCoopers (PwC) and KPMG, Dale has acquired over 25 years of experience in international tax consultancy work. He has practiced in Central Europe, California and Washington, DC, has advised clients, both domestic and expatriate, on complex international and domestic tax issues, and has been a prominent speaker at many seminars hosted by the World Bank, International Monetary Fund, Inter-American Development Bank and the United Nations.
Topics of Discussion:
The seminar will focus in particular on: (i) the new U.S. tax law enacted in 2017 and how it may affect personal income taxes for 2019 and 2020 and beyond; (ii) the preparation of the 2019 U.S. Federal individual income tax return (Form 1040 and related forms); (iii) how to report the Bank SRP pension as well as other foreign financial accounts and assets on Form 8938 (Statement of Specified foreign Financial Assets); and (iv) how also to report foreign financial accounts on FinCEN Form 114 (Report of Foreign Bank and Financial Accounts (FBAR)).
Time permitting, the seminar may also provide a brief update on the U.S. exit tax (expatriation tax). The exit tax may possibly affect a U.S. citizen who renounces U.S. nationality, or a U.S. permanent resident who terminates U.S. residency either voluntarily or involuntarily (as might possibly happen for example if a permanent resident moves out of the U.S.A. to live in another country), and who meets certain criteria related to the duration of U.S. residency, average annual net income taxes, and net worth.
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