Description

Section 962 is a special election available to individual US shareholders of controlled foreign corporations. It allows individuals to use Subchapter C corporate tax principles to report income from CFCs and foreign tax credits for CFC-paid foreign income tax. It is a valuable technique for American individuals living abroad who own regular businesses in normal countries to reduce their US tax burden.

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

• Identify the results of a Section 962 election
• Determine whether the Section 962 election will benefit your taxpayer

Subjects

• Form 5471
• Controlled foreign corporation
• Section 962
• Subchapter C