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Introduction To U.S. International Taxation

Introduction To U.S. International Taxation

2 Credits

$20

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00582-21-S)

2 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0556)

2 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

2 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00582-21-S)

2 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00582-21-S)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Before starting this self study program, please go through the instructional document.

Overview

  • Overview of Two Main Taxation Systems: Worldwide vs. Territorial
    13 mins
  • Major Systemic Changes from the Tax Cuts and Jobs Act (TCJA)
    22 mins
  • Promotion of U.S. Products and Services Aboard: A Long History: FDII
    36 mins
  • Tax Home Exception
    46 mins
  • Capital Gains
    64 mins

Course Description

The major overhaul of United States international tax law and policy that took place in 2017 with the passage of the Tax Cuts and Jobs Act (TCJA), the significant regulatory developments since that time, and the still relevant historical underpinnings of international tax law will be tossed around.

This online CPE course will provide a basic introduction to the fundamental terms and concepts of United States tax law governing the taxation of United States business and investment activities of foreign taxpayers and the foreign activities of United States citizens and residents.  This online continuing education course will discuss these concepts with respect to individuals and corporations.

This online continuing professional education course is a broad overview of United States international taxation and includes current and historical elements as well as policy and comparative elements.  The CE course begins with a discussion of the differences between worldwide and territorial taxation. The course points out the long historical roots of worldwide taxation as the preferred system for the U.S. government.  The CPE course also notes the role of tax treaties in international taxation.

After discussing these historical roots, the course examines how the push and pull between worldwide and territorial taxation manifested themselves in the TCJA.  This includes an introduction to the dividends received deduction of Code Section 245A, GILTI, BEAT, and FDII.

The course then proceeds to define each of the many acronyms that are most commonly used in international tax law: CFC, PFIC, Subpart F, GILTI, FTC, BEAT, FDII, FATCA, and FIRPTA.

Next, the IRS approved course examines the central roles of residency and source. Most international tax issues partly trace their origins and their importance to the twin issues of determining source and residency.  If all countries in the world perfectly agreed on the basic principles and rules for implementing source and residency, there would be many fewer vexing double taxation issues in international tax law.  Obviously, all countries have never agreed on these issues.

The CPE/CE course closes with a discussion of the basic parameters of the United States’ treatment of United States source income earned by foreigners and foreign source income earned by United States citizens or residents.

Topics Covered in this online CPE/CE Webinar:

Overview of the two main taxing systems for international transactions: worldwide vs. territorial

  • The major systemic changes resulting from the TCJA.
  • Definitions of terms so that you can speak like an insider: FTC, CFC, PFIC, Subpart F, GILTI, BEAT, FDII.
  • Residency classification for individuals and the substantial presence test and tax-home exception.
  • Residency classification for business entities.
  • Source of income rules related to:
    • Interest, dividends, rents, and royalties.
    • Capital gains.
    • Sales of personal property and inventory.
    • Depreciable and intangible property.

Click here for more IRS approved CE/CPE webinars on | Tax Updates | IRS Audit, Representation and Resolutions |

Learning Objectives

  • To differentiate between a territorial system and a worldwide system 
  • To describe how the TCJA included movement towards a territorial system in some respects and strengthening of the worldwide system in other respects.
  • To describe basic terms such as: FTC, CFC, PFIC, Subpart F, GILTI, BEAT, FDII.
  • To recognize how to classify source of income for various types of income including interest, dividends, capital gains, and sales of various types of property.
  • To identify how to determine the residency of a taxpayer based upon place of organization or incorporation, ownership, entity status, and other relevant factors.
  • To describe the differences between the U.S. taxation of passive and active business income for foreigners who earn income in the United States.
  • To describe the operation of the foreign tax credit.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Annual Filing Season Program
  • Bookkeepers & Accountants & Tax Preparers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros

Testimonial

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