Tax Planning for Foreign Corporations and Form 5471 (Completed)

Date: Wednesday, August 14, 2019
Instructor: Robert J. Misey
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs

Learn How the U.S. Taxes Foreign Subsidiaries and How to Complete Form 5471
With more companies conducting business globally, the number of foreign subsidiaries has exploded. That leaves many U.S. owners needing to know the tax rules and file Form 5471, Information Return of U.S. Persons With Respect To Certain Foreign Corporations. The IRS is aggressively pursuing penalties for non-filing, so Form 5471 compliance is critical for your business or clients.

This two-hour CPE webinar presented by former IRS attorney and noted international tax advisor, author and presenter, Robert Misey, J.D., LL.M., M.B.A., will help you understand the U.S. tax principles for foreign corporations and the rules for filing Form 5471. Mr. Misey will provide a helpful review of the rigorous filing obligations for U.S. persons with ownership interests in foreign corporations.

All professionals in public practice and in industry involved with cross-border tax planning and compliance matters will benefit from this helpful webinar.

Who Should Attend
Business tax and finance executives, directors, managers and staff; CPAs; Enrolled Agents; tax preparers and staff; accountants, attorneys and financial advisors who work with and advise businesses and individuals that have cross-border operations, activities and issues.

Topics Covered

  • Weeding through the confusing Form 5471 filing categories
  • Determining Subpart F income that must be reported on Schedule I and Global Intangible Low-Taxed Income that must be reported on new Schedule I-1
  • Determining which foreign taxes are creditable
  • Navigating the new "gotcha" questions on revised Schedule G
  • Translating items denominated in foreign currencies
  • Reporting intercompany transactions on Schedule M
  • Failing to file Form 5471 and the related penalties
  • Completing a sample Form 5741

Learning Objectives

  • Identify the tax law behind the informational requirements on Form 5471
  • Develop a practical understanding of U.S. international tax reporting and compliance with respect to foreign corporations


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

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