Section 962 Election Statement: Purpose and Requirements WEBCAST

Overview

An individual who makes the Section 962 election must send a statement to the IRS with their return. However, no tax form has been created just for the individual taxpayer making a Section 962 election. This session reviews the Section 962 basics and then thoroughly examines the statement’s requirements. We’ll do a step-by-step walkthrough of a sample statement.

Highlights

U.S. shareholders of foreign corporations. Section 962. Subpart F income. GILTI income.

Prerequisites

None.

Designed For

CPAs and attorneys.

Objectives

Determine when the Section 962 election is beneficial. Identify the Section 962 statement requirements.

Preparation

None.

Notice

None.

Leader(s):

Philip Hodgen

Leader Bios

Philip Hodgen

Philip D. W. Hodgen is the principal attorney for Hodgen Law Group, which specializes in the international tax arena. He earned his undergraduate degree from Claremont McKenna College and his law degree from the School of Law at the University of California, Los Angeles. He then went on to earn a Master of Laws degree with a specialty in taxation from the University of San Diego School of Law.

Admitted to the California bar in 1982, Mr. Hodgen spent nine years in law firms and with a large U.S. bank before starting his own firm in 1991. For six years of his youth, he lived in Rhodesia, South Africa and New Zealand. Mr. Hodgen is a past chair of the International Tax Committee of the State Bar of California’s Tax Section and was a member of the Executive Committee of the State Bar of California’s Tax Section for 2004-2007.

Mr. Hodgen frequently speaks on a variety of international tax, trust and estate topics to attorneys, accountants, real estate professionals and other groups.

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