Show navigation

Live Webinar

100-minute live streaming program
  • March 29
  • 1:00 - 2:40 pm EST

Form 8865: Handling Complex Challenges When Reporting Foreign Partnership Income

March 29

Be aware of potential filing and reporting obligations and be equipped to comply with them.

Congress and the Internal Revenue Service continue to increase filing and information reporting requirements on U.S. persons who own interests in foreign entities, transact business with foreign entities and conduct business abroad. The categories of U.S. persons who are obliged to make these different filings, and the information required by these filings, continuously grows in sweep and complexity. The penalties that can be imposed on U.S. persons who fail to comply with these requirements are among the most severe in the Internal Revenue Code. Added to this is an ever-increasing focus by the Internal Revenue Service on international tax compliance. Finally, the use of the partnership/pass-through form of entity has exploded over recent years. This combination of more reporting, more complexity, more compliance and greater potential penalties is a potentially toxic brew for the unprepared taxpayer and tax advisor. This topic will help persons who deal with cross-border pass-through entities be aware of potential filing and reporting obligations and be equipped to comply with them.

Learning Objectives

  • You will be able to describe the persons who may have Form 8865 filing requirements.
  • You will be able to identify major complex compliance requirements.
  • You will be able to explain how to comply with the Form 8865 filing requirements.
  • You will be able to review the key components of a Form 8865 filing.

Purchase Options

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Foreign Partnership Basics
  • What Is a "Partnership"?
  • When Is a Partnership a "Foreign" Partnership?
  • What About Hybrid Entities?
Key Definitions and Ownership Rules
  • What Is a "Us" Person?
  • How Do the Constructive Ownership Rules Work?
Who Has to File Form 8865
  • Control Persons the Category 1 Filer
  • U.S. Controlled Partnerships the Category 2 Filer
  • Property Contributors the Category 3 Filer
  • Acquisitions/Dispositions/Changes of 10% Interests the Category 4 Filer
  • Overlapping Categories
  • Special Situations
Filing Form 8865
  • Differences Between Form 8865 and Other Key International Returns Such as 8939 and 5471
  • Key Elements of the Schedules for Form 8854
  • How and Where to File Form 8865
Penalties Associated With Form 8865
  • Failure to Timely Submit Information
  • Failure to Properly Report Property Contributions
  • Failure to Properly Report Changes of Interests
  • Penalty Abatement Strategies
Purchase Options

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AIPB 2.0
     
  • This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     
  • CPE 2.0 including Business Law 2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Business Law for 2.0 hours. Prerequisite: basic knowledge of taxation. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 2.0 hours.
     

Who should attend?

This live webinar is designed for accountants, CPAs, CFOs, controllers, accounts payable professionals, tax managers, tax preparers, presidents, vice presidents, bookkeepers and enrolled agents.

Purchase Options

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Kimberly Goldman

Kimberly Goldman

Dechert LLP

  • Associate in the New York office of Dechert LLP, specializing in tax law
  • Membership information: New York Bar; American Bar Association
  • J.D. degree, University of Michigan Law; B.A. degree, University of Wisconsin-Madison
  • Can be contacted at 212-698-3520 or [email protected]
Michael Lehmann

Michael Lehmann

Dechert LLP

  • Partner in the New York and Philadelphia offices of Dechert LLP, has practiced tax law for over 30 years
  • Practice emphasizes multiple aspects of federal tax law, including international/cross-border taxation, particularly foreign partnerships/pass-through entities
  • Conducts regular seminars and workshops on numerous international tax topics
  • Membership information: New York and Pennsylvania Bars; Tax Court Bar; NY Bar Association; American Bar Association
  • J.D. degree, Columbia University; LL.M. degree in Taxation, New York University; A.B. degree, Brown University
  • Can be contacted at 212-698-3803 or 215-994-3803 or

[email protected]

Purchase Options

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 403560
Published 2019
Purchase Options

Register today before this event fills.