Chapter Meetings
A dinner meeting, with one hour of CPE, is generally held on the fourth Wednesday of each month at 6:30 p.m. There are no monthly meetings in June, August and November. If you are interested in presenting a tax topic for continuing education credit to the Northern Virginia Chapter, please click here for the “Call for Speakers” form. *
Date: May 22nd
Topic: Selected Topics in FBAR and FATCA Reporting
• Determining who is required to file FBAR – known as the Foreign Bank Account Report – with the U.S. Treasury on Form FinCEN 114. (Potential filers are legion: Four tax return forms carry FBAR screening questions that the IRS considers required questions: Form1040, on Schedule B, Part III, Forms 1041, 1065, and 1120-S.)
• Recognizing reportable accounts for FBAR.
• What is the FBAR reporting threshold?
• How to determine if the FBAR threshold has been met?
• With jointly held accounts, who reports and how?
• The IRS chart ‘Comparison of Form 8938 and FBAR Requirements’ shows significant variations in requirements, in addition to the threshold.
• Recognizing some differences that must be considered to determine Form 8938 and FBAR filing requirements.
Examples:
8939 Threshold: Varies by residency; varies by filing status; varies individual vs. entity
8939 “Interest”: Associated with tax return
FBAR Threshold: Invariable
FBAR “Interest”: Independent of income tax return
Speaker: Jean Mammen, EA
Jean Mammen is an Enrolled Agent with two decades of professional experience doing individual income tax returns. She presents seminars and webinars related to topics discussed in this handbook to tax professionals and other groups. She was an instructor for a leading tax firm for ten years. Jean specializes in tax areas with an international flavor, likely because she is a retired U.S. Foreign Service Officer and a Returned Peace Corps Volunteer (RPCV).
CE credit: 1
Location: Anthony’s Restaurant, 3000 Annandale Rd., Falls Church, VA 22042
Email Joel at NVCVASEA@gmail.com to RSVP for this event. Please include your PTIN # in your RSVP. Please RSVP no later than 5:00 pm Monday prior to event.
Fee for dinner is $35 for members and $40 for non-members payable by cash or check made out to NVCVASEA. Payment is collected at the event.
CE Credit for VASEA Members:
Receiving CE credit for attending VASEA chapter meetings is a benefit of VASEA membership. All active members and associates in good standing are eligible to receive IRS CE credit through the VASEA office for chapter meetings at no charge.
FOR NON-MEMBERS ONLY: There is a $15 per hour fee for non-members who want Continuing Education credit. CE Credits for Non-Members can be purchased here. Tokens may be purchased up to 2 days after the meeting and are not required for attendance.
As an alternative to CE Tokens, consider becoming a member. If you are not an EA, you may join as an Associate Member.
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Upcoming Meetings:
Date: July 26th
Topic: (TBA)
Speaker: (TBA)
CE credit: 1
Location: Anthony’s Restaurant, 3000 Annandale Rd., Falls Church, VA 22042
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Date: September 25th
Topic: Federal and State Employment Tax Issues
Common issues with employment taxes include not filing, not making timely deposits, and misclassifying employees as “independent contractors.” Any one issue is sufficient to cause major problems, and any combination of more than one problem can be potentially devastating. This presentation discusses the Federal and state tax code governing each of these issues, the civil and criminal penalties that may be applied under different circumstances, and the benefits of voluntary disclosure. Russ will cover IRS and Virginia late filing and late payment penalties, liens, levies, and the Trust Fund Recovery Penalty. Finally, Russ will outline steps to address these issues, including ensuring current compliance, penalty abatement, payment arrangements, and other potential approaches and strategies.
Speaker: Russell Haynes
Russell Haynes is a tax attorney at Burton J. Haynes, P.C. in Burke, Virginia. Russ works primarily with businesses that have federal and state employment tax problems, including unfiled returns, unpaid balances, and worker classification issues, but he also assists business owners and employees with personal exposure to the Trust Fund Recovery Penalty and converted state tax assessments. Russ also handles cases for individuals with non-business-related tax problems, including unfiled returns and unpaid taxes. Like his father, B.J., Russ has become an authority on the treatment of tax liabilities in bankruptcy, and teaches seminars on that subject for the Maryland State Bar Association, the University of Baltimore Law School, and various professional associations of tax practitioners. In addition to using bankruptcy to resolve individual tax problems, Russ has successfully negotiated offers in compromise and installment agreements with the federal and state tax authorities, obtained innocent spouse relief, and represented clients during IRS and state tax audits.
Russ is a graduate of the George Mason University School of Law (magna cum laude, tax concentration) and is admitted to the Virginia Supreme Court, the U.S. Tax Court, and the U.S. District Court for the Eastern District of Virginia. He is a member of the American Bar Association, the ABA Tax Section and the ABA Committee on Civil and Criminal Tax Penalties, the Virginia State Bar Association and VSB Taxation Section. Russ is also a QuickBooks ProAdvisor. He is married to another tax lawyer, Heidi Kordish Haynes, and has a daughter, Hannah. Before attending law school and entering the practice of law, Russ was a trained musician, with a Masters degree in music performance from the Cincinnati Conservatory and a Doctor of Musical Arts degree from the University of Texas at Austin. Russ no longer plays music but spends his downtime training Brazilian Jiu Jitsu and coaching kids sports.
CE credit: 1
Location: Anthony’s Restaurant, 3000 Annandale Rd., Falls Church, VA 22042
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Date: October 23rd
Topic: Surviving Blockchain, A.I., and Neural Networks to Become a 21st Century Firm
This Presentation will address:
- Why mass media reports of our pending demise are premature.
- What do 21st Century clients want and how do they want it delivered?
- Identify the new (and old) skills required to thrive in the 21st Century.
- What does the 21st Century tax preparation firm organization look like?
Speaker: Frank Stitely, CPA, CVA
Frank is a Certified Public Accountant with 30 years of tax experience, as well as a Certified Valuation Analyst with 15 years of experience in business valuation. He serves small businesses and individuals in the areas of taxation, business valuation, financial reporting and software support services. Frank is the CEO of Clarity Practice Management LLC, and a Managing Member of Stitely & Karstetter, PLLC.
CE credit: 1
Location: Anthony’s Restaurant, 3000 Annandale Rd., Falls Church, VA 22042
