International Tax: Concepts In A Global Society

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?

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.

Overview

• Introduction to the speaker

  1 mins
• Introduction to the subject

  2 mins
• Reporting Requirements

  4 mins
• Credits and Exclusions

  39 mins
• Double Taxation Options – Tax Treaties

  41 mins
• Double Taxation Options – Foreign Tax Credit

  42 mins
• General Reporting Requirements

  48 mins
• FBAR

  69 mins
• FBAR – Penalty Assessment and Enforcement

  71 mins
• Retroactive Reporting Options

  77 mins