Planning for Global Intangible Low-Tax Income (“GILTI”) and Preparing Schedule I-1 and Form 8992
Date: Tuesday, July 22, 2025
Instructor: Robert J. Misey
| Begin Time: |
11:00am Pacific Time
12:00pm Mountain Time
1:00pm Central Time
2:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
|
NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
The centerpiece of anti-deferral in the 2017 Act, GILTI continues to cause problems for U.S. multi-nationals seeking to avoid U.S. tax on high-return income their foreign subsidiaries earn. By taking this class, you will learn the ins and outs of the GILTI regime and various planning techniques to reduce its impact. Taught by Robert Misey, a former IRS Chief Counsel (International) attorney and author of a Practical Guide to U.S. Taxation of International Transactions, this course will help you master GILTI and includes preparing a sample Schedule I-1 and Form 8992.
Who Should Attend
Tax accountants, tax attorneys, and tax professionals in industry
Topics Covered
- Tested Income
- Differentiating between Subpart F income and tested income
- Qualified Business Asset Investment
- The GILTI deduction
- The GILTI foreign tax credit
- Schedule I-1
- Form 8992
Learning Objectives
- Understand the policy objectives behind ending deferral and GILTI
- Determine tested income of a CFC
- Determine qualified business asset investments
- Plan for GILI inclusions
- Comply with the GILTI provisions
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
