Not filing, filing late or making mistakes on Form 5471 will lead to penalties and unwanted attention. Correctly filing the return is the minimum first step to defending your international tax position.
The IRS recently released guidelines for its revenue officers regarding the pursuit of investigations relating to IRS Audits of US taxpayers with foreign interests.
This practical one-hour online seminar will help you understand the rules for filing Form 5471 and clarify the reporting requirements of U.S. taxation with respect to foreign corporations.
IRS auditors are seeking and using more evidence and information abroad Form 5471 is their road map.
We will cut to the chase and walk through the complex data requirements of Form 5471. Learn the risks of informational gaps and best practice strategies for filing late. Understand the two procedures available for late filers for Forms 5471, 8865 or 5472 to become compliant. Learn what steps to take to ensure you or your clients qualify for 1st time relief from penalties.
Deciphering IRS Form 5471 Categories and Schedules
Understand transfer pricing compliance
Understanding Subpart F
Dividends, Earnings and Profits and Foreign Tax Credits
Strategies for reporting data with quality issues
Saving Taxes with a Late-Filed Form 5471 (Controlled Foreign Corporation)
How to avoid Form 5471 penalties
Avoid missteps to prepare for appeal (requirements to file an appeal)
Develop a personal roadmap for you and your practice
- Attract new clients with International Ties
- Serve clients that require international tax compliance
- Identify scenarios that require analysis or research into international tax
- Tuesday, August 9 – 11:30 AM – 12:30 PM
- Tuesday, August 9 2016
- 11:30 AM EST.
paul Wigg-Maxwell, esq.
Accountants, CPA Partners Attorneys whose current and future client’s have cross boarder transactions.
Changes to the international tax laws of the U.S. impact a greater percentage of businesses and transactions. A working knowledge of how international connections affect U.S. tax issue is important.