Before starting this self study progarm, please go through the Instructional Document.
DownloadCourse Details
Overview of Topics
- Introduction to the speaker1 mins
- Introduction to the subject2 mins
- Reporting Requirements4 mins
- Credits and Exclusions39 mins
- Double Taxation Options – Tax Treaties41 mins
- Double Taxation Options – Foreign Tax Credit42 mins
- General Reporting Requirements48 mins
- FBAR69 mins
- FBAR – Penalty Assessment and Enforcement71 mins
- Retroactive Reporting Options77 mins
Course Description
As the world becomes more global, an exponentially increasing number of individuals have some sort of international ties – whether through family, assets, employment, or a multitude of other factors. For tax practitioners, this has made a working knowledge of the United States tax laws related to international ties an absolute necessity. The webinar introduces basic concepts associated with international tax as it relates to individuals – including classification of taxpayers, implications from an income tax and transfer tax perspective, required information forms, and options for curing prior failures to properly report. It will provide functional knowledge of international tax to speak knowledgeably with clients on international issues & advise appropriately of considerations.
Learning objectives
- What are the basic rules for United States citizens, residents, and nonresidents for taxation?
- What options are available for curing double taxation?
- What are the most common forms required for international assets?
- What options exist for prior failures to report?
About Presenter
Patrick is a partner with Culhane Meadows, a national law firm with a prominent practice in the international area. Patrick practices exclusively in the area of international taxation. He has extensive experience in handling complex tax planning, structuring, and compliance issues for foreign businesses with United States operations, United States businesses with foreign operations, and individual taxpayers with international ties. Patrick regularly works with advisors both in the United States and abroad to assist with international tax issues faced by their clients.
Patrick is a prolific contributor to a multitude of international tax journals, including Tax Notes and the Journal Of International Taxation, . He is an active speaker and panelist for national seminars and webinars, including regularly scheduled presentations with CPA Academy on assorted international tax topics. Patrick holds a Juris Doctorate from Vanderbilt University Law School and a LL.M. from New York University School of Law. His bar admissions include Pennsylvania, Florida, New Jersey and Georgia.
Each year from 2016-2019, Patrick has been recognized by Super Lawyers as a Rising Star. Finance Monthly, a United Kingdom-based publication, named Patrick Estate Planning Lawyer of the Year (United States) for both 2017 and 2018. Patrick and his wife reside in Phoenixville, PA.
Culhane Meadows is proudly shaking up the legal marketplace by offering exceptional, yet highly-efficient and cost-effective, client services provided exclusively by partner-level attorneys with substantial experience from large law firms or in-house legal departments of respected corporations.
Review Questions
- Question 1 : 00:15
- Question 2 : 00:30
- Question 3 : 00:45
- Question 4 : 01:05
- Question 5 : 01:20
- United States Citizen are table on their transfer of assets ________.
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- Which one of the following represent the options to mitigate double taxation of income and assets for US income and asset taxation?
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- Mr. Jacob is neither a US resident nor a citizen. However, he has maintained certain business interest in the US. How would his income and asset transfer would be treated if his status for income tax is non-residential alien?
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- Which form can assist an assessee provide the foreign earned income exclusion when filed with the individuals tax return?
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- If Mr. Michael Johnes is the nominee of a corporation doing business in the Japan and Easter Europe. Which of the following type of the interest Mr. Michael has that qualifies him for FBAR reporting requirement?
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- Who is NOT subject to U.S. tax on worldwide income?
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- An individual can be a U.S. tax resident by virtue of:
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- Who is NOT subject to U.S. tax on worldwide gratuitous transfers?
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- A full-time U.S. resident is able to offset foreign tax on passive income with:
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- Which can be required to report an interest in a foreign corporation?
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- Which of the following represents the correct purpose for the form 3520?
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- What can be non-willful penalty for per account per year for FBAR?
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- As per Streamlined program under retroactive reporting option if the assessee has reported due details in the amended returns what penalty is charged?
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FAQ
- myCPE self-study courses are online.
- The self-study format allows you to access the material online 24/7 and study at your own pace.
- As per NASBA guidelines, you have one year from date of registration to complete each program.
- Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
- Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
- Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.
- These are Live recorded presentations converted into Self Study (On-Demand Videos).
Refund/Cancellation Policy
- For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
- Please email to help@my-cpe.com in case of any self study program queries.
Reviews
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KHKenneth Hildebrandt , CPAJul 1st 2019Very helpful, thank you!
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MY-CPE LLC has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
upcoming On-Demand Webinars
EMAIL EXTINGUISHER - SIMPLE STEPS TO SHRINK THE INBOX
Friday, September 13, 2019 View Details/RegisterDOES YOUR CLIENT OWN SHARES IN FOREIGN CORPORATION? IMPACT OF TJCA
Friday, September 13, 2019 View Details/RegisterBIGGEST DISRUPTION IN STAFFING FOR ACCOUNTING FIRMS
Friday, September 13, 2019 View Details/RegisterACCOUNTING & CPA FIRMS - TRANSFORM #1 CHALLENGE OF STAFFING INTO AN OPPORTUNITY
Friday, September 27, 2019 View Details/RegisterCALSAVERS - CALIFORNIA'S MANDATORY RETIREMENT PROGRAM
Friday, September 27, 2019 View Details/RegisterOUR NATIONAL RETIREMENT CRISIS AND THE COSTS TO EMPLOYERS
Friday, September 27, 2019 View Details/RegisterAnalytics-Based Corporate Performance Management (CPM)
Friday, September 27, 2019 View Details/RegisterRisk Management Basics and Developing Risk Management Process
Wednesday, October 02, 2019 View Details/Register
- Cost $14
- CPE Credits 1.5
- CE Credits 1
- IRS Course ID GEHNZ-T-00006-19-S
- CTEC Course ID 6273-CE-0038
- Subject Area Taxes
- Course Level Basic
- Instructional Method QAS Self Study
- Prerequisites None
- Advanced Preparation None
- Recorded Date September 13 ,2019
- Published Date September 13 ,2019
- Who should attend? Enrolled Agent Tax Firm
- Handout Material Download
- Key Terms Download
upcoming On-Demand Webinars
EMAIL EXTINGUISHER - SIMPLE STEPS TO SHRINK THE INBOX
Friday, September 13, 2019 View Details/RegisterDOES YOUR CLIENT OWN SHARES IN FOREIGN CORPORATION? IMPACT OF TJCA
Friday, September 13, 2019 View Details/RegisterBIGGEST DISRUPTION IN STAFFING FOR ACCOUNTING FIRMS
Friday, September 13, 2019 View Details/RegisterACCOUNTING & CPA FIRMS - TRANSFORM #1 CHALLENGE OF STAFFING INTO AN OPPORTUNITY
Friday, September 27, 2019 View Details/RegisterCALSAVERS - CALIFORNIA'S MANDATORY RETIREMENT PROGRAM
Friday, September 27, 2019 View Details/RegisterOUR NATIONAL RETIREMENT CRISIS AND THE COSTS TO EMPLOYERS
Friday, September 27, 2019 View Details/RegisterAnalytics-Based Corporate Performance Management (CPM)
Friday, September 27, 2019 View Details/RegisterRisk Management Basics and Developing Risk Management Process
Wednesday, October 02, 2019 View Details/RegisterPay Invoice
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