Taxes  |  Format: Flash

Taxation of International Transactions - Part 2 (Updated)

Course Overview
Part 2 of Taxation of International Transactions discusses the tax implications of U.S. persons owning certain foreign corporations, controlled foreign corporations, transfer pricing, and U.S. persons owning foreign deposit accounts and other foreign financial assets. This material reflects updated information as of November 1, 2018.

Learning Objectives
After completing this course, the course participant should be able to:

  • Identify key characteristics of a passive foreign investment company.
  • Identify the general purpose of Subpart F.
  • Recognize the characteristics of a controlled foreign corporation.
  • Identify the key differences between retained earnings and "earnings and profits".
  • Recognize circumstances in which IRC Section 482 must be considered.
  • Differentiate between assets or accounts that are and are not required to be reported on FinCEN Form 144.

    Catalog Number: 99NPT06-v2
    CPE Credits: 2 Registry / 2 QAS
    Author: Don Paul Cochran, JD, CPA
    Advanced Preparation:
    Course Level: Basic
    Field of Study: Taxes
    Content Partner: SmartPros Ltd.
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Windows or Mac OS
    Release/Expiration Dates: May 06, 2019 / May 06, 2021