Theory Training

This course, aimed at tax practitioners with an intermediate level of PFIC understanding, includes comprehensive computations required to complete Form 8621 using the §1296 mark to market and §1295 qualified electing fund methods.

• Differentiate between §1291 PFIC treatment and the alternate PFIC taxation regimes
• Explain the general PFIC taxation rules under a §1296 mark to market election
• Explain the general PFIC taxation rules under a §1295 qualified electing fund election
• Calculate the tax attributes of a PFIC under a §1296 mark to market election
• Calculate the tax attributes of a PFIC under a §1295 qualified electing fund election

Education Information

IRS Program Number: NMVBP-T-00228-22-S
Length: 100 minutes plus optional question-and-answer session (no CE)
Prerequisite: None
Advanced Preparation: None
Program Level: Intermediate
Delivery Method: Self-Study
Field of Study: IRS Federal Tax
Credit hours: 2 IRS CE

Instructor: Mary Beth Lougen, EA, USTCP Click here to learn more about the instructor.

All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators. Click here to learn more about our education policies.

Stay tuned for the updated trainings coming soon.