Taxation of Foreign Partnerships and How to Report the Information Required by Form 8865

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U.S. persons with significant interests in foreign partnerships must generally file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships annually. This Form is used to report information with respect to controlled foreign partnerships, transfers to foreign partnerships and acquisitions, dispositions, and other changes in foreign partnership interests. Taught by Robert Misey, author of a Practical Guide to U.S. Taxation of International Transactions.

Who Should Attend
Tax accountants, tax attorneys, and tax professionals in industry

Topics Covered

• Review of U.S. international outbound tax rules for business
• Discussion of fundamental U.S. international tax reporting rules and obligations of U.S. persons with interests in foreign partnerships
• Foreign tax credits
• Purpose of Form 8865
• Structure and preparation of Form 8865
• Treatment of cross-border activities and transactions
• Check-the-box rules

Learning Objectives

• Recognize how to develop a practical understanding of U.S. international tax rules with respect to foreign partnerships
• Identify the laws behind the information put on Form 8865
• Identify creditable foreign taxes
• Identify the schedules to properly file Form 8865
• Identify what is an association of two or more persons who carry on as co-owners of a business for profit
• Identify the schedule of Form 8865 that includes the income statement (i.e., trade or business income)

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None