This presentation focuses on providing tax advisors with the tools to effectively manage clients with foreign activities such as individuals holding foreign financial assets or U.S. businesses operating overseas. Specifically, the presentation will focus on U.S. businesses with foreign subsidiaries, reporting required on the revised Forms 5471, and required reporting information for GILTI AND FDII provisions. You will also be provided with a checklist for the items needed to properly complete the required forms and document the tax positions appropriately.
This is a virtual event (no CPE).
An event link will be provided to pre-registered attendees the day before the event.
1. Recognize major changes to foreign financial asset and foreign income reporting for US persons as a result of the Tax Cuts and Jobs Act.
2. Identify potential planning opportunities from reviewing client-provided information in order to take advantage of various incentives associated with foreign operations.
3. Determine how to appropriately document tax positions for foreign subsidiaries.
- Gain an understanding of the new IRS forms and disclosure requirements to report foreign financial assets.
- Request the correct information from the client to efficiently prepare the forms.
- Learn about foreign financial asset reporting.
- Preparation of International Tax Return Forms with a focus on Forms 5471.8892. and 8858.
CPAs and other professional staff Event Notes:
- Pre-register to receive your event link via email the day before the event.
- No CPE credit available.