IC-DISC Compliance: Exporter Challenges in the Federal Tax Break
Leveraging Benefits From the Dividend Tax Solution
Recording of a 110-minute CPE webinar with Q&A
This course will prepare tax professionals and advisers to leverage the tax benefits of IC-DISC formation. The panel will review and explain key steps for forming entities, tax planning and maintaining compliance.
Outline
- Background and tax benefits of IC-DISCs
- Applicable IRC sections
- Tax court decisions and IRS guidance
- Planning issues arising from the dividend tax increase and 3.8% Medicare tax
- DISC structures that may not be subject to Medicare tax
- High level compliance issues
- Ownership structures
- 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
- Completing IRS Form 1120-IC-DISC, the unique tax return that applies only to the IC-DISC entity
Faculty
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
Mr. Loizeaux has more than 25 years of public accounting and industry experience in international corporate tax. He has extensive technical expertise in complex international compliance, repatriation strategies, structuring foreign operations and exports – IC DISC. Prior to joining CLA, he was a Director with a major accounting firm and was the international tax manager for a multinational company responsible for the management of research, planning and compliance for foreign tax matters in foreign jurisdictions and related to U.S. income taxes.
Close
Robert J. (Rob) Misey, Jr.
Shareholder
Reinhart Boerner Van Deuren
Mr. Misey, Jr. is chair of the firm’s International Practice. He serves with a wide range of clients involved in... | Read More
Mr. Misey, Jr. is chair of the firm’s International Practice. He serves with a wide range of clients involved in an array of industries such as manufacturing, distribution, sport and entertainment with international taxation and tax controversy matters. Licensed in California, Wisconsin, Kentucky and Washington, D.C., he is also a member of the International Fiscal Association, chair of the Tax Committee of International Section of the American Bar Association, and a member of Wisconsin Accounting Examining Board. He previously spent nine years with the IRS.
Close