Tax Classification of Individuals 1.5 Credits
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Individual tax classification is a crucial aspect of the U.S. tax system, determining how individuals are taxed based on factors such as residency, citizenship, and domicile. This intricate classification process impacts an individual's obligations and liabilities, shaping the scope of their tax responsibilities.
In this course we will skillfully navigate the fine lines between income tax and transfer tax designations, underscoring their profound implications on tax responsibilities linked to an individual's residency, citizenship, and domicile. Attendees are not just informed but actively engage with the criteria shaping U.S. taxpayer status, unraveling complexities related to citizenship, residency, and exemptions tailored for specific groups. Special avenues for nonresident U.S. taxpayers, notably the foreign tax credits and the foreign earned income exclusion, are expertly demystified, providing a clear understanding of tools to ease the tax impact on income earned abroad.
In this CE Tax course, we will cover transfer tax classification, the landscape of estate and gift taxes, carving out distinctions between citizens/domiciliaries and noncitizen nondomiciliaries, while laying bare the lifetime exclusions and constraints in play. Furthermore, the influence on residence domicile determinations and reclassifications adds a layer of insight, offering a holistic view of the interwoven threads within international tax regulations.
Major topics covered:
Join this CPE Course, and together we will delve into the intricate domain of expatriation, shedding light on the weighty consequences of relinquishing citizenship or green card status.
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1.5 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01883-24-S) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-01883-24-S) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1500) | 1 CE | Approved |
| Personal Financial Specialist (PFS) | 1.5 CPD | Eligible |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1.5 CPE | Eligible |
| Tax Planning for Certified Financial Planner (CFP-US) (Approval No. 332288) (Valid upto : Dec 31, 2025) | 1.5 CE | Approved |
| Chartered Financial Consultant (ChFC) | 1.5 CE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01883-24-S) | 1 CE | Approved |
| Retirement Income Certified Professional (RICP) | 1.5 CE | Eligible |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-01883-24-S) | 1 CE | Eligible |
| Wealth Management Certified Professional (WMCP) | 1.5 CE | Eligible |
| Financial Services Certified Professional (FSCP) | 1.5 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1.5 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01883-24-S) | 1 CE | Approved |
| Chartered Life Underwriter (CLU) | 1.5 CE | Eligible |
| Chartered Special Needs Consultant (ChSNC) | 1.5 CE | Eligible |
| Chartered Advisor in Senior Living (CASL) | 1.5 CE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1.5 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01883-24-O) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-01883-24-O) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1500) | 1 CE | Approved |
| Personal Financial Specialist (PFS) | 1.5 CPD | Eligible |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1.5 CPE | Eligible |
| Tax Planning for Certified Financial Planner (CFP-US) (Approval No. 332288) (Valid upto : Dec 31, 2025) | 1.5 CE | Approved |
| Chartered Financial Consultant (ChFC) | 1.5 CE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01883-24-O) | 1 CE | Approved |
| Retirement Income Certified Professional (RICP) | 1.5 CE | Eligible |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-01883-24-O) | 1 CE | Eligible |
| Wealth Management Certified Professional (WMCP) | 1.5 CE | Eligible |
| Financial Services Certified Professional (FSCP) | 1.5 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1.5 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01883-24-O) | 1 CE | Approved |
| Chartered Life Underwriter (CLU) | 1.5 CE | Eligible |
| Chartered Special Needs Consultant (ChSNC) | 1.5 CE | Eligible |
| Chartered Advisor in Senior Living (CASL) | 1.5 CE | Eligible |
Credits
1.5
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
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.
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.
With over 35 years of US tax and international experience, Virginia has been a member of the NYS Bar since 1984. Practicing US tax overseas since 1986, Virginia’s practice has focused on clients in Asia and the Middle East. She provides expert insight into tax planning and compliance for American expats and foreign persons having any US connections.
Virginia has an expertise in cross-border transactions and structuring, FATCA, regaining US tax compliance with previously unreported foreign income, assets or accounts, expatriation tax planning, and providing specialist advice for international families in numerous areas of US international tax. Working with tax and attorney colleagues across the globe, Virginia excels in solving cross-border and multi-jurisdictional tax matters and has developed a unique and sought-after specialty in analyzing the US tax consequences of transactions involving Sharia law and the use of UAE “foundations” in US tax planning.
Virginia’s tax advice is highly knowledgeable, reliable and solution-focused. Having assisted Asian and Middle Eastern families for decades, she appreciates the sensitive and special situations involved in multi-national families. Virginia has worked with international law and accounting firms (Deloitte), major banks (including HSBC), and trust companies. Early in her career she worked with the top-tier NY law firm, Willkie Farr & Gallagher.
Virginia is a Bloomberg tax author and an avid tax blogger for many years; her work is highly regarded and recognized internationally. Her Twitter Account @VLJeker has been listed in Forbes, Top 100 Must-Follow Tax Twitter Accounts and she is named by Bloomberg as a tax professional to follow on LinkedIn. Tax Notes International recognized Virginia as a preeminent US tax professional, profiling her international tax practice (here). Listen to a short podcast posted in Forbes to hear Virginia discuss how she established her tax practice abroad, the challenge of balancing family life with career, and recent international tax issues.
Virginia has been quoted in the New York Times, Newsweek and the Wall Street Journal and is regularly quoted in local news and publications. Virginia has a passion for US international tax and her contributions to the field are prolific: interviewed by CNN, local television appearances, regularly speaking at conferences and seminars, and publishing a vast array of scholarly works on US tax issues, some of which have been referenced by other attorneys or organizations both to the US courts and US Congress
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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.
MB
Best course I've completed at myCPE in some time. The rolling outline format for presentation of this demanding material was very effective. This is a difficult practice area, and particularly challenging for tax professionals that don't specialize in immigration or expats. I really appreciated the Madison's Hypothetical Fact pattern since I have had a client in a similar situation in the UK and currently have a family member in the UK. The course established a clear baseline of knowledge Virginia depth of background and experience. The treatment of expatriation and transfer tax classification was really an "attention grabber" that I haven't seen an update on previously. Virginia presented this complex topic is a manner that made it much easier to understand. A true subject matter expert. Well done!
DB
Great webinar and great presenter. I definitely enjoyed the presentation. I would suggest that Virginia do a course on US workers working remote and their taxation both US and foreign. Thanks!
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