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International Tax Challenges and Opportunities for U.S. Filers (ITX3)

Friday, January 17, 2025
10:00 AM - 01:00 PM (Eastern)

Renata Maroney (Stasaityte), CPA

  • Format Webinar
  • Credits 3.00
  • Level Basic
  • Field of Study Taxes (3)

$169.00


Overview

Globalization continues to make it easier for taxpayers to live abroad, do business in other countries, or invest in foreign enterprises. This creates significant complications and tax planning opportunities when it comes to filing U.S. tax returns. This course provides an overview of the unique tax challenges and solutions presented to U.S. expats or investors living or investing abroad. It examines how foreign-source income is taxed in the U.S. and how the tax consequences could be mitigated by applying the tax treaties, claiming credit for foreign taxes paid, or excluding foreign-earned income. Additionally, the course discusses the numerous foreign informational form reporting requirements and the significant penalties that could be imposed by the IRS. Examples from real-life client scenarios are included.

Major Topics:

  • Residency status for U.S. federal income tax purposes
  • Key provisions of U.S. income tax treaties
  • Overview of the taxation of income from foreign entities
  • Understanding Foreign Tax Credit
  • Identifying foreign-source and U.S.-source income
  • Foreign earned income and housing exclusion
  • Foreign informational form filing requirements

Learning Objectives

  • Advise clients on unique tax issues faced by U.S. residents living, doing business, or investing abroad
  • Understand how foreign-source income is taxed in the U.S.
  • Advise clients on key tax-saving opportunities available

Who should take this course:

Accounting and finance professionals who advise clients with foreign income

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