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2024 Mid-Year U.S. International Tax Update: Tax Issues for Cross-Border Transactions, Recent Guidance and Regulations

Developments in Inbound Planning, Transfer Pricing, Foreign Tax Credits, Subpart F, M&A, and Partnership Planning

Recording of a 90-minute premium CLE/CPE video webinar with Q&A

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This program is included with the Strafford CPE+ Pass. Click for more information.
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Conducted on Thursday, July 18, 2024

Recorded event now available

or call 1-800-926-7926

This CLE/CPE webinar will provide tax counsel and advisers guidance on recent developments in U.S. international taxation and related IRS guidance for foreign activities of individuals and companies. The panel will review complex international tax issues associated with cross-border activities and the implications of recent U.S. tax regulations and developments, as well as provide guidance on avoiding the assessment of penalties, additional tax liability, and potential audits.

Description

The IRS continues to aggressively assess penalties for failure to comply with reporting requirements of individuals and companies engaged in cross-border activities. Tax professionals must understand the U.S. international tax regime, key tax provisions impacting certain transactions, reporting requirements, and available tax planning mechanisms for U.S. individuals and companies.

Under current tax law, and in light of recent developments in the international tax landscape, possessing an in-depth understanding of international tax rules and regulations will assist counsel and tax advisers in helping taxpayers maintain compliance and avoid IRS examination. A taxpayer's failure to properly adhere to reporting and filing requirements associated with cross-border activities and foreign assets can result in serious civil and/or criminal penalties.

Listen as our panel provides guidance on the most complex aspects of international tax compliance, tax issues associated with cross-border activities, and the implications of recent U.S. tax regulations and developments, as well as provides guidance on avoiding the assessment of penalties, additional tax liability, and potential audits.

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Outline

  1. Overview of U.S. international tax compliance
  2. Recent developments
    1. Sourcing of income and expenses
    2. U.S. foreign tax credit
    3. Transfer pricing
    4. FATCA and other withholding and reporting
    5. Subpart F
  3. Tax planning tips for individuals and companies
  4. Navigating IRS examinations and appealing penalty assessments

Benefits

The panel will review these and other key concepts:

  • An overview of U.S. taxation of cross-border activities
  • Reporting requirements and methods for compliance
  • Recent U.S. international tax law developments
  • Tax planning tools available to individuals and companies engaged in international transactions
  • Appealing penalty assessments, handling audits, and litigation tactics

Faculty

McCormick, Patrick
Patrick J. McCormick, J.D., LL.M.
Founder/Managing Partner
McCormick Tax

Mr. McCormick specializes in the areas of international taxation, tax compliance, and offshore reporting...  |  Read More

Access Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. CPE credit is not available on recordings. All formats include course handouts.

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