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INTERNATIONAL TAX: AN OVERVIEW OF PFICS

4.7 (43)

Patrick McCormick, Doc. of Law

Culhane Meadows

Friday, February 05, 2021 | 10:00 AM EDT

  • AFSP
  • CPA
  • EA
  • Tax Preparer
  • CTEC

1.5 Credits

FREE

Subject Area

Taxes

Webinar Qualifies For

1.5 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00388-21-O)

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0389)

1 CE credit of Federal Tax Law for 2021 Annual Filing Season Certificate program( IRS Approved : GEHNZ )

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00388-21-O)

1 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00388-21-O)

1.5 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

This course will detail the primary rules associated with passive foreign investment companies ("PFICs"). Included within the program will be guidance on determining whether a foreign interest qualifies as a PFIC, explicitly focusing on foreign entities’ classification and determinations regarding passive income levels (even where books and records are unavailable). The program will also review the specific default tax rules applicable to PFICs, and where/how they apply. The program will also examine alternative elections available for taxing PFIC interests and eligibility requirements for the same.

Learning Objectives

  • To identify when a foreign interest triggers the passive foreign investment company rules, with a specific focus on qualifying income/assets and foreign corporate status
  • To define the default rules regarding PFIC taxation, including appliable interest charges and gain reclassification
  • To identify elective alternatives to the default rules for PFIC treatment and requirements to be eligible for elective alterations

Who Should Attend?

  • Bookkeepers & Accountants & Tax Preparers
  • California Registered Tax Professional
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Testimonial

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(
    [no_of_record] => 43
    [average] => 4.6512
)
 

4.7

(43)
67%
30%
2%
0%
0%

BS

i took it for CPE and i learned something new so thats all i can ask for

TN

Great Class!

CH

excellent

PL

Good

GK

Why did it go so long