- NY Credits : 6.0
- TX Credits : 6.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 6.0
This course examines the world of U.S. international taxation of foreign corporations and investment. The course has been updated for impacts from the Tax cuts and Jobs Act of 2017. The first chapter of this course tackles the taxation of foreign corporations that have U.S. operations, and begins by examining the difference between a foreign corporation and a U.S. trade or business for tax purposes. You will learn how to compute the U.S. tax liability of a foreign corporation using the gross-basis and net-basis methods and understand the special considerations that need to be considered when computing deductions of a foreign corporation. In the second chapter of this course you will also learn about fixed or determinable annual or periodic (FDAP) income and its components. In the third chapter we will discuss how the income of foreign corporations with U.S. operations can be subject to withholding, and you will become acquainted with those situations where withholding is required as well as the actual mechanics of withholding taxes from income.
This course is most beneficial to professionals new to international taxation who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to inbound transactions in terms of international tax.
Upon successful completion of this course, the user should be able to:
describe U.S. taxation of foreign corporations with U.S. operations, and
summarize withholding taxes on payments to foreigners.