Form 5471: Everything you need to know about US Taxes on Foreign Corporations 6.5 Credits
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Dec 26, 2024 | 12:00 PM
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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.
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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
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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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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.
TW
First time use My-CPE for my continuing education and it was great. Topic was complex for me, but at least gave me good information about what all is involved in filing the form 5471.
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