Overview
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Income sourcing rules
5 mins
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Income sourcing rules - Personal services income
27 mins
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Multiyear compensation arrangements
51 mins
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Income from properry disposition
68 mins
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Foreign derived intangible income
82 mins
Course Description
Nonresidents – whether individuals or corporate entities/non-grantor trusts – are primarily taxed on income sourced to the United States.
Limited tax on foreign-sourced income can occur to the extent the nonresident maintains an office or fixed place of business in the United States, but American tax for nonresidents focuses on American-sourced income.
Why is it important to know the source of a taxpayer’s income?
It is important because the foreign tax credit (FTC) can only offset U.S. taxes on foreign source income. A U.S. person is subject to worldwide taxation on income from all sources. However, a foreign person is subject to U.S. tax only on their income from sources within the U.S., with minor exceptions. Thus, the sourcing of income is necessary because amounts reported by a taxpayer are not automatically included in the calculation of U.S. taxable income.
This CE/CPE course covers income sourcing rules for United States income tax purposes.
This online taxation course will cover the following topics:
- Income Sourcing Rules
- Interest
- Dividends
- Personal Services Income
- Multiyear Compensation Arrangements
- Income from Property Use
- Income from Property Disposition
- Other Rules of Note
- Foreign Derived Intangible Income
- Domestic Corporations - FDII
- Foreign Derived Intangible Income
This CE/CPE webinar begins with an overview of why income sourcing rules dictate American tax requirements for nonresidents. It also covers assorted income tax sourcing categories, with exceptions to general rules and treaty alterations.
Learning Objectives
- To discuss the overview of why income sourcing rules dictate American tax requirements for nonresidents.
- To review assorted income tax sourcing categories.
- To analyze exceptions to general rules and treaty alterations.
- To discuss Multiyear Compensation Arrangements.
Recommended For
- This IRS-approved CE webinar is recommended for Tax partners, managers, and staff, CPAs, EA, AFSP, CRTP, MRTP, ORTP, CFIRS, CWS, tax return preparers, tax attorneys, and other tax practitioners who want to advise businesses and individuals with Income sourcing rules.
- This CPE/CE course is also helpful for tax professionals who want to understand everything about American tax requirements for nonresidents.
Who Should Attend?
- Annual Filing Season Program
- Certified Public Accountant (CPA)
- Enrolled Agent
- Maryland Tax Preparers
- Oregon Tax Preparers
- Tax Firm
- Tax Preparer
- Tax Professionals