ITL 2023: Form 5471: CFC Income—Global Intangible Low-Taxed Income

Global Intangible Low-Taxed Income can be considered active business income of a controlled foreign corporation. The calculation rules are almost c...

9/29/2023 2:00pm - 3:00pm | Online | CalCPA

Members: $49.00, Non-members: $59.00

CPE Categories: Taxation (1 CPE)

Interest Areas: Individual Taxation

Description

Global Intangible Low-Taxed Income can be considered active business income of a controlled foreign corporation. The calculation rules are almost comically baroque in their complexity. In this session, we will explore how this type of income is calculated and how it is reported on the US shareholder's income tax return.

Presented by Philip Hodgen

Target Audience

CPAs, attorneys, tax preparers and advisors who what to stay current on the latest developments on international tax issues.

Course Objectives

Recognize Global Intangible Low-Taxed Income
Identify how Global Intangible Low-Taxed Income is reported
Determine whether a taxpayer has Global Intangible Low-Taxed Income to report

Subjects

Form 5471
Global Intangible Low Taxed Income
Controlled Foreign Corporation