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Strategies for Mitigating Tax & Compliance Risks in Family Offices
At best, audits by the Internal Revenue Service (IRS) and other regulators drain resources from a family office, racking up professional fees and diverting the time and attention of family members and staff. At worst, the audits may uncover significant tax due; lead to assessment of onerous penalties; give rise to liability for officers, directors, fiduciaries or beneficiaries; trigger audits by other taxing authorities or regulators; expose facts that could lead to personal strife, civil liability or even a criminal investigation.

Family offices can head off many of these troubles by implementing strategies that identify and effectively mitigate tax and compliance risks. Thomas Ward and Jenny Johnson Ware will describe the proactive steps a family office can take to minimize the likelihood of an audit and maximize the likelihood of a successful result if one occurs.

Sep 16, 2020 01:00 PM in Eastern Time (US and Canada)

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