Our world has become much smaller. From the comfort of our offices we are now able to transact business with major financial centers located on other continents. Taxpayers want to reduce their tax liability as much as possible. If they have to pay foreign taxes, they want to maximize any foreign tax credits that they are entitled to receive. As businesses are becoming more involved in international transactions, companies of all sizes are opening offices or establishing formal relationships with related entities offshore.
The United States tax laws allow exclusions for certain types of income earned
abroad. However, the criteria is very strict, and mistakes can wreak havoc on a clients’ or business’s tax bill. This course, which provides an overview of the major international tax issues that affect individuals and small businesses, will cover the following topics:
• 2014 international tax case review
• House Ways and Means tax reform – international tax
• IRS commissioner’s emphasis on offshore tax evasion
• IRS tax enforcement international initiatives
• FATCA and FBAR 2014 developments
• Tax havens – impact
• Tax treaty developments
• Foreign earned income exclusion
• Corporate international tax evasion
• Foreign tax rates – How does the U.S. compare?
• New IRS John Doe summons – more banks
• G-20 Exchange of Information
• IRS No Rulings List
Self-Study Course Instructions: FOR DOCUMENT-BASED COURSES Download the course document(s) (below) and follow prompts contained in the document. FOR RECORDED COURSES WITH VIDEO Download any course document(s) (below) which may include handouts, glossary, transcripts, etc. Follow any prompts contained in the documents to help you complete the course. Most documents are searchable. |
Compute foreign income exclusion.
Understand the significance of a tax treaty.
Recognize what the differences are between a U.S. citizen, resident alien, non- resident alien, and dual-status alien.
Explain tax-planning tools to clients who are moving or reside abroad.
Identify recent tax changes impacting U.S. taxpayers involved in international activities.
Identify tax requirements for the establishment of a foreign operation and identify tax-saving tools that legally reduce foreign-based income.
Stuart Sobel Consulting Inc
President
sobel@taxmedianetwork.com
(317) 581-1827
Stuart “Stu” Sobel combines an in-depth knowledge of taxation and nonprofits with an ability to communicate clearly. A dynamic speaker, Stu seeks to help people understand the very complex world of taxation in every day terms. And he’s just the person to do it — Stu has been in the industry for 48 years. He worked in examination and high level positions at the IRS for 30 years. Following that, Stu spent nine years as the producer and host of his own nationally syndicated radio program called Wise Choices: Taxes and Charity Today. He also ran his own tax and nonprofit consulting firm for 12 years (Stuart Sobel Consulting, Inc.). He has helped create over 2,500 nonprofit organizations worldwide. His expertise on the topic of nonprofit taxation has earned him the title “The Guru of Giving.”
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