BEPS 2.0: International Tax Compliance Challenges and Preparing Form 8975

Note: CLE credit is not offered on this program

A live 110-minute CPE webinar with interactive Q&A


Thursday, August 19, 2021

1:00pm-2:50pm EDT, 10:00am-11:50am PDT

or call 1-800-926-7926

This webinar will provide a practical overview of the country-by-country reporting requirement for U.S.-based multinational entities. The panel will identify entities impacted by the reporting mandate, outline information to be reported, and detail areas for increased audit risk arising from this reporting regime. The panel will guide tax advisers on how to complete Form 8975.

Description

The OECD Base-Erosion and Profit-Shifting (BEPS) initiatives specifically require multinationals to report business activities on a country-by-country basis using a uniform template. This new transparency will almost certainly increase IRS audits and international tax controversy of U.S. multinational activities.

The standards will require companies to report revenues, pre-tax profits, income taxes (both accrued and paid), and other essential information for each tax jurisdiction where the company conducts business activities on Form 8975. These new requirements impose significant burdens on tax departments.

Listen as our experienced panel of expert advisers provides detailed and practical guidance on the country-by-country reporting requirements, who is subject to these reporting requirements, and other key components of BEPS actions, from both planning and compliance standpoints.

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Outline

  1. Country-by-country reporting standards and requirements
  2. Preparing Form 8975
  3. The likelihood and depth of IRS audits
  4. The current state of BEPS actions
  5. Leveraging existing tax attributes

Benefits

The panel will discuss these and other important items:

  • What information are companies required to report on a country-by-country basis?
  • How can companies play a role in designing reporting templates?
  • How do country-by-country standards impact financial statement reporting?
  • Which entities are subject to the country-by-country reporting requirements?

Faculty

Gasbarra, Mark
Mark C. Gasbarra, CPA

National Managing Director
Forte International Tax

Mr. Gasbarra has more than thirty-five years of international tax experience serving a wide array of companies across...  |  Read More

Hazzard, Elizabeth
Elizabeth Hazzard-Herzing

Director
BKD CPAs & Advisors

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 |  Read More
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