View More Self-Study Courses

U.S. International Taxation: Passive Foreign Investment Companies (Currently Unavailable)

Author: Robert J. Misey, Michael S. Schadewald

CPE Credit:

2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

This course explains U.S. tax rules for requiring certain taxpayers to report certain foreign passive income currently, rather than deferring such income until it is repatriated back to the shareholder in the form of a dividend.

Note: This course does not contain audio.

Publication Date: February 2015

Topics Covered

U.S. International Taxation

Learning Objectives

Explain the concept of deferral
Define a Passive Foreign Investment Company (PFIC)
Identify the types of income that are considered passive income
Identify the mechanism to prevent double taxation on the taxation of PFIC income
Describe how the deemed paid foreign tax credit works in the context of PFIC income

Level
Advanced

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
U.S. International Taxation: Subpart F or equivalent knowledge

Advance Preparation
None

View More Self-Study Courses