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2022 International Tax Update: Business Entities and Forms - FLEXCAST

Available Until Wednesday, May 31

Your Desk

2.0 Credits

Member Price $98.00

Non-Member Price $113.00

Overview

This course will prepare you for the 2022 filing season by updating you on the new legislation, rulings and IRS pronouncements that impact US international tax reporting. New in this series of updates is a look at the changes to the 2021 international tax forms and potential changes to the 2022 forms. In this portion David Jarmusz, CPE, JD, LLM, will be covering the topic of Business Entities and Forms as of May 2022.

Highlights

Form 5471. FDII and GILTI. Section 59A BEAT Tax. Form 8832. Partnerships. Section 1297 PFIC.

Prerequisites

None.

Designed For

CPAs, financial professionals, enrolled agents and attorneys.

Objectives

Controlled foreign corporations. New categories of filers on the Form 5471 (2020). FDII and GILTI. Section 59A beat tax. Form 8832- Entity classification election. Final CFC stock ownership determination regs (T.D 9960, January 2022). Withholding on foreign partners of US partnerships. Section 1297 PFIC. IRS released proposed PFIC Regulations February 2022. Foreign Branches (FBs) and Qualified Business Units (QBUs). Sample Section 987 remittance calculation. Changes to K-2 and K-3. Form 1116 (2021)- Foreign tax credit. Form 5471 (2021)- Information return of U.S. persons with respect to certain foreign corporations. Form 5472 (December 2021)- Information return of a 25% foreign-owned U.S. corporation.

Preparation

None.

Notice

  • This is a FlexCast™ (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. 
  • You may take up to one year from the date of purchase to complete the course. 
  • Pause your FlexCast and resume at a convenient day during the hours above.  
  • Partial credit for 2+ credit courses:  If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning.  
  •  Use chat to ask questions of a subject matter expert during the program. 

Leader(s):

Leader Bios

David Jarmusz

David F. Jarmusz, CPA, JD, LLM, is a partner at Jarmusz & Associates Tax, LLC. He is also a veteran of the international tax departments of the ‘Big 4’ accounting firms of Coopers & Lybrand (Washington, D.C. and London, UK) and Ernst & Young LLP (Chicago). As a lifelong international tax practitioner, he has assisted hundreds of clients around the world. He earned a BS in accounting from the Canisius College of Buffalo, NY, a Juris Doctorate from the University of Detroit Law School, and Master of Laws in Taxation from the Georgetown University Law Center.

David resides in the Chicago suburb of Winnetka, Il. In his free time, he sails with his family on Lake Michigan and watches the Buffalo Sabres in their lengthy pursuit of the Stanley Cup. He is also active with his sons through the Boy Scouts of America where he holds a leadership position.

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Non-Member Price $113.00

Member Price $98.00