Tax-Advantageous Planning for Exporters with an IC-DISC and Preparing Form 1120-IC-DISC
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
How will the current administration implement the promise of a 15% tax on exports? Congress has always loved exporters. Currently, The IC-DISC tax incentive for exporters of U.S.-manufactured products offers the opportunity to decrease federal income tax on a portion of exports. As the number of implemented IC-DISCs continues to grow exponentially, now is the time to review the basics of creating an IC-DISC and explore structural alternatives that show how different planning opportunities can help an exporter maximize its IC-DISC benefit.
Publication Date: June 2025
Designed For
Tax accountants, tax attorneys, and tax professionals in industry
Topics Covered
- Tax benefits of the IC-DISC
- Tests to qualify as an IC-DISC
- Requirements—manufacturing, destination, content
- Determining and maximizing the IC-DISC benefit
- A multitude of structuring techniques
- Completing a Form 1120 IC-DISC
Learning Objectives
- Explain how to qualify a corporation as an IC-DISC
- Determine the amount of qualified export receipts
- Determine the amount of an IC-DISC’s income
- Explain how to structure techniques for the IC-DISC
- Explain how to complete a Form 1120-IC-DISC
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
