Navigating the complex landscape of information reporting for U.S. taxpayers with multinational activities can be daunting. Questions frequently arise about which forms are necessary for specific transactions or holdings.

This course will provide critical and applicable updates in the international tax arena. This presentation will cover case law rulings on foreign income inclusions, foreign tax credit treaty relief, and penalty imposition/assessment for multinational failures among other international tax topics of interest.

This program, taught by attorney Patrick J. McCormick, provides a summary of recent developments in international tax. Attendees will explore updated regulations for foreign tax credit purposes, as well as current options for net investment income tax relief under tax treaty provisions. Mr. McCormick will review recent rulings impacting the government's ability to assess and collect both FBAR and Title 26 penalties. He will also cover the domestic filing exception to Schedule K-2 and K-3 filing.

Learning Objectives:

  • Overview of the latest changes and updates in international tax regulations
  • Analysis of recent rulings impacting the government's ability to assess and collect FBAR and Title 26 penalties
  • Current options for relief under various tax treaty provisions
  • Examination of the domestic filing exception to Schedule K-2 and K-3 requirements
  • Recognize service issuances impacting multinational tax issues
  • Identify how actions from the United States Congress affect international tax
  • Detailed exploration of updated regulations for foreign tax credit purposes
  • Identify the primary information reporting forms that are relevant for U.S. taxpayers involved in multinational activities
  • Describe the specific circumstances that trigger various reporting requirements for international tax contexts
  • Evaluate the types of transactions and holdings that necessitate different forms, ensuring compliance with U.S. tax laws

Session Highlights:

  • Summarize the recent developments in international tax 
  • Explore the recent rulings impacting the government's ability to assess and collect both FBAR and Title 26 penalties
  • Identify the current status of NIIT relief under treaties
  • Review the domestic filing exception to Schedule K-2 and K-3 filing

Live Q&A session will be held after the event.

Who Should Attend?

  • CPA
  • Enrolled Agents (EAs)
  • Tax Professionals
  • Attorneys
  • Other Tax Preparers
  • Finance professionals
  • Financial planners
  • Business Owner

Credits and Other information :

  • IRS CPE Credits: 2.0 TAX
  • Location: Virtual/Online
  • Delivery method: Group Internet Based
  • IRS Course ID: DFFSC
  • Attendance Requirement: Yes
  • Case Studies and Live Q&A session with speaker

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 On demand session is when we conduct the webinar as per your available dates after the live training. You will get access to the training for 24 hours.

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Each webinar wraps up with a Q&A session, giving you the opportunity to interact with industry experts and receive answers to all your queries.

5. We provide the following CE credits to the professionals on the approved courses.

  • IRS
  • HRCI
  • SHRM

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Your educational credits will be reported to the appropriate licensing and regulatory bodies within 5-7 business days

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  • Speakers and a microphone – built-in, USB plug-in, or wireless Bluetooth

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