Form 5471: Everything you need to know about US Taxes on Foreign Corporations 6.5 Credits
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For U.S. citizens involved with foreign corporations, navigating the intricacies of Form 5471, known as the "Information Return of U.S. Persons concerning Certain Foreign Corporations," is crucial for international tax compliance. This form holds a key role in outlining filing responsibilities, making it imperative for taxpayers to comprehend its nuances.
Designed to demystify the complexities, this course focuses on Form 5471, recognizing it as a critical IRS requirement for U.S. taxpayers with interests in specific foreign corporations. Breaking down intricate reporting requirements and categories of filers, the course equips participants with the knowledge needed to accurately report foreign operations to the U.S. Internal Revenue Service.
Through practical examples, participants gain hands-on experience in navigating the form's schedules and attachments, emphasizing compliance with U.S. tax laws. The curriculum extends its coverage to the Global Intangible Low-Taxed Income (GILTI) regime, shedding light on its implications for U.S. shareholders of controlled foreign corporations (CFCs).
Major Topics Covered:
Join this CE Tax Course it will explain form 5471, empowering attendees to confidently manage reporting obligations and strategically optimize their tax positions.
Looking to fulfill your Enrolled Agent (EA) Continuing Education (CE) requirements? MY-CPE online Enrolled Agent CE courses are the best for you. Earn EA CE credits while enhancing your domain knowledge and expertise in diverse tax regulations and practices. Our courses are designed to provide you with the latest updates and deep insights to keep you ahead in your field. With flexible scheduling and a user-friendly platform, MY-CPE offers you a greater convenient and interactive learning experience. Join MY-CPE today and take the next step in advancing your career as an Enrolled Agent.
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MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.
Crystal Stranger holds a Juris Doctor of Law degree, is an Enrolled Agent (EA), EOS Integrator, and professionally Senior Tax Director and CEO of OpticTax.com. Bringing over 20 years of finance, accounting, and leadership experience she enjoys helping startups stay focused on the big picture objective while maintaining an eye to the details and performing realistic risk assessments.
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After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
YJ
Crystal is clearly very knowledgable on this topic of foreign reportings. The course was very thorough going through every single line item on each of the schedules. I think the course should have been a bit longer as some of the points were rushed and there were certain items that could have been explained in a little more depth, with more examples, slower, etc. The current allotted time was still very long and hard to sit through (6 hours with two 10 minute breaks) so adding more time but splitting into two sessions could help with increasing the depth but maintaining focus.
MS
It was such a video, which I was looking for the long period of time. The instructor explained each concept very clearly and in details.
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