- NY Credits : 6.0
- TX Credits : 6.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 6.0
Introduction to International Taxation
This comprehensive program will go a long way in helping CPAs gain a general understanding of the complexities of international taxation. Practitioners will learn about the importance of the income-sourcing rules in international tax planning and compliance work, the special source rules that apply to different kinds of income, the fundamentals of foreign tax credit calculation, and the U.S. taxation of foreign source income. In addition, this program explains how to determine who is subject to the U.S. income tax and how to determine what income is taxable to such persons, how U.S. citizens are taxed on their foreign income, and how nonresident aliens are taxed on their U.S. income. This program also analyzes U.S. persons owning foreign corporations, controlled foreign corporations, IRC Sec. 482 and transfer pricing, foreign ownership of U.S. corporations, the foreign tax credit, tax withholding for foreign persons, and tax treaties in international tax administration. This course is most beneficial to professionals new to international taxation. These individuals are often at the staff or entry level in an organization, although this course may also benefit a seasoned professional with limited exposure to international taxation.
Note: This course has been updated to include the relevant tax provisions of the Tax Cuts and Jobs Act of 2017.
Upon successful completion of this course, the user should be able to:
identify the income-sourcing rules in international tax planning and compliance work,
recognize the importance of citizenship and residence in determining tax liabilities of individuals,
identify which foreign entities and types of income are subject to special rules,
recognize the general purpose and basic calculations of Subpart F and the characteristics of a controlled foreign corporation,
recognize the importance of IRC Sec. 482 and the circumstances in which IRC Sec. 482 must be considered,
identify the tax treatment of U.S. corporations with foreign ownership,
recognize how the U.S. foreign tax credit system works, cite the general requirements for withholding U.S. income tax on certain types of income paid to foreign persons, and
recognize the organizational structure of income tax treaties.