Mr. Chin Po, C.P.A., a board director of the DCCC will host a Tax Seminar on Saturday, March 31 from 10:30 am to 12:30 pm in the main hall of DCCC. The topic will be introduction of the new IRS tax provision of offshore asset reporting. In 2009, the IRS enacted the foreign bank reporting provision which requires taxpayers, who are American citizens, to report any deposits in offshore bank accounts during and after 2003.
In 2011 IRS added another tax provision which requires all taxpayers, not only US citizens, but also permanent residents and tax residents to report foreign financial assets (Form 8938) in their 2011 tax returns.
This law directly affects many of the community members who came from Taiwan, China, and other parts of the world. An introduction of how to comply with the new tax requirement is very important. Mr. Chin Po is an experienced tax practitioner with clients in the US and southeast Asia. He will explain the tax law and answer questions. Admission is free.