Planning for GILTI and Preparing Schedule I-1 and Form 8992
Author: Robert J. Misey
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2028 to receive credits. 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.
Publication Date: July 2025
Designed For
Tax accountants, tax attorneys, and tax professionals in industry
Topics Covered
- GILTI Pro Rata Inclusion
- Controlled Foreign Corporation
- Rules of Administrative Convenience
- Net Deemed Tangible Income Return
- QBAI
- The Dual Use Ratio Pro Rates Basis by Depreciation Deductions
- Pro Rata Share
- Foreign Tax Credits
- GILTI Deduction
- Consolidated Returns
- Compliance
- GILTI Planning
- GILTI Facts
Learning Objectives
- Explain the policy objectives behind ending deferral and GILTI
- Determine tested income of a CFC
- Determine qualified business asset investments
- Describe how to plan for GILI inclusions
- Describe how to comply with the GILTI provisions
- Identify the GILTI pro rata inclusion formula
- Identify the percentage of GILTI deduction that is available for C corporations
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
