Show navigation

Available in:

OnDemand Webinar
Audio & Reference Manual
MP3 Download

International Tax Forms and Reporting Requirements

Gain a better understanding of the new tax changes for U.

S. shareholders of Foreign Corporations and provide you with a practical guide to completing the new Form 5471 and Form 8992.The latest U.S. tax reform legislation (Tax Cuts and Jobs Act of 2017 -TCJA) enacted new requirements for U.S. shareholders of foreign corporations. Under the TCJA, a U.S. person who owns at least 10% of the shares of one or more foreign controlled corporation is required to include its Global Intangible Low-Taxed Income (GILTI) as current taxable income, regardless of whether any amount is distributed to the shareholder. Moreover, IRS significantly revised Form 5471, information return of U.S. persons with respect to certain foreign corporations. The 2018 version of the Form 5471 has doubled from eight to 16 pages and there have been substantial changes to the schedules. This topic will help you understand the new tax changes for U.S. shareholders of foreign corporations and provide you with a practical guide to completing the new Form 5471 and Form 8992. The material will help you identify taxpayer reporting categories and complete the new complicated schedules. Finally, the information will help you calculate GILTI inclusion which involves a multistep with numerous data inputs and analyze the impact of GILTI on your tax obligations.

Runtime: 90 minutes
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

Form 5471: Information Return of U.S. Persons With Respect to Certain Foreign Corporations

  • Understanding the Five Categories and Reporting Requirements
  • Preparation of Form 5471 and Related Schedules
  • Completing Separate Schedules H, I-1, J, M, O, P
  • Common Mistakes and Errors
  • 5471 Completion Checklist

Global Intangible Low-Taxed Income (GILTI) and Form 8992

  • Introduction to GILTI
  • U.S. Shareholder, CFC, Net CFC Tested Income, Net Deemed Tangible Income Return
  • GILTI Computation
  • Completing Form 8992

Form 8938: Statement of Specified Foreign Assets

  • Who Is Required to File and What Is Required to Be Reported
  • Preparation of Form 8938, Reporting for Taxpayers With Foreign Assets
  • Relationship Among Forms 8938 and 5471
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

OnDemand Webinar

This course was last revised on October 7, 2019.

Call 1-866-352-9540 for further credit information.

  • Enrolled Agents 1.0
     
  • This program qualifies for 1.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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

Hussein Tarraf, CPA, CFE, CICA

Hussein Tarraf, CPA, CFE, CICA

Tarraf & Associates PC

  • Partner in the office of Tarraf & Associates PC
  • Practice emphasizes all aspects of accounting, auditing, taxation and other financial services
  • Member, American Institute of Certified Public Accountants; Association of Certified Fraud Examiners; Michigan Association of Certified Public Accountants and National Association of Tax Professionals
  • D.B.A. degree, Lawrence Technological University; M.B.A. degree, Wayne State University
  • Can be contacted at 313-680-3333 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: 406410
Published 2019
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!