IC-DISC: Compliance Challenges in the Federal Tax Break for Exporters

Leveraging Benefits Arising From the Dividend Tax Solution

Recording of a 110-minute CPE/CLE webinar with Q&A


Conducted on Tuesday, October 21, 2014

Recorded event now available

or call 1-800-926-7926
Program Materials

This webinar will prepare tax counsel, professionals and advisors to take on the tough challenges of leveraging tax benefits of IC-DISC formation. The panel will review and explain the key strategic steps for forming entities, tax planning, and maintaining compliance.

Description

The tax savings available for exporters through an IC-DISC (interest charge-domestic international sales corporation) remain a significant incentive for businesses and investors.

Tax planning involving IC-DISC requires more intensive review due to issues such as whether distributions are subject to the new 3.8% Medicare surtax. The new demands add to higher-level compliance challenges that businesses face in creating books-only entities that pay lower tax on export income.

Tax counsel, accounting professionals, and corporate tax specialists need an overview of important aspects of IC-DISCs and on the latest guidance and rulings. Perspectives from advisors who have worked with the structures for years can help you deal with your company’s or clients’ toughest problems.

Listen as our panel of veteran advisors improves your understanding of how IC-DISCs operate and prepares you to navigate challenges in tax compliance and planning.

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Outline

  1. Background and tax benefits of IC-DISCs
    1. Applicable IRC sections
    2. Tax court decisions and IRS guidance
  2. Higher-level compliance issues arising from aspects such as:
    1. Ownership structures
    2. Deemed distributions

Benefits

The panel will guide you through issues including:

  • Maximizing unique IC-DISC tax benefits.
  • Understanding tax liability for DISC structures under the new federal dividend tax rate and Medicare tax.
  • Meeting the three requirements to receive income from export property sales and other aspects of the IC-DISC rules.
  • Improving liquidity for the parent and shareholders—steps to consider.
  • Completing IRS Form 1120-IC-DISC, the unique tax return that applies only to the IC-DISC entity.

Faculty

Loizeaux, James
James Loizeaux

Managing Director, Global Tax Services
CliftonLarsonAllen

Mr. Loizeaux has more than 25 years of public accounting and industry experience in international corporate tax. He has...  |  Read More

Misey, Robert
Robert J. Misey, Jr.

Shareholder
Reinhart Boerner Van Deuren

Mr. Misey is attached to the firm's Tax and Business Law Practices, and chairs its International Practice. He...  |  Read More

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Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

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