News and Updates

This course is the first in the Passive Foreign Investment Companies series training, that gives a broad overview of the tax law related to passive foreign investment companies, or PFICs. Failing to properly file Form 8621 can expose your client to both onerous penalties and an unlimited statute of limitations for the assessment of tax. Even though the PFIC provisions are among the most complicated and punitive sections of the Internal Revenue Code, we will explain PFICs in plain English so you can explain them to your clients.

Learning Objectives:

• Explain what qualifies as a PFIC and how to identify them.
• Describe when a taxpayer must file Form 8621.
• Compare and contrast the three different taxation regimes for PFICs.
• Understand the potential penalties & statute of limitation issues with PFIC non-compliance.

Webinar Cost: $149.00 USD

The Tax Cuts & Jobs Act completely redefined the U.S. tax regime for foreign corporations owned by U.S. persons. To facilitate this change, Congress imposed a one-time tax on certain offshore earnings: the learning curve is steep, the IRS issued guidance only last week, and the timeline for our clients is very short. This course outlines the who, what, when, where, and, most importantly, how of computing and paying this tax.

The learning objectives for this webinar include:

• Recognize the new terminology and expanded definitions in §965.
• Identify taxpayers who are subject to the §965 repatriation tax.
• Apply IRS guidance to compute the §965 repatriation tax.
• Prepare the election to pay the §965 tax over 8 years.