IC-DISC: Mastering Intricacies of the Federal Tax Incentive for Exporters
Overcoming Compliance Challenges to Maximize Tax Benefits
Recording of a 110-minute CPE/CLE webinar with Q&A
This CLE course will prepare tax and accounting professionals for the complex challenges involved in taking advantage of the tax benefits of IC-DISC formation. The panel will review and explain the key strategic steps for entity formation, tax planning and maintaining compliance.
- Background And Tax Benefits Of IC-DISCs
- How the IC-DISC came to be
- Tax benefits of IC-DISCs
- Maximizing Tax Benefits of the IC-DISC
- Meeting IRS requirements
- Meeting the three tests for “buy-sell” DISCs
- Implementing Various Ownership Structures for the IC-DISC
- Privately-held company: C, S, LLC partnership
- Publicly-traded corporation
- Treaty Benefits
- Sourcing Benefits
- Compliance and Reporting By IC-DISCs
- Calculating the amount of commissions
- Complying with the No-Loss Rule
- Completing IRS Form 1120-IC-DISC
- Avoiding and adapting to potential pitfalls of the IC-DISC
The panel will guide you through every critical aspect of IC-DISC creation and tax planning, including:
- Maximizing the unique IC-DISC tax benefits.
- Meeting the three requirements to receive income from export property sales.
- Structuring the IC-DISC entity in order to provide liquidity for the parent and shareholders.
- Completing IRS Form 1120-IC-DISC, the unique tax return that applies only to the IC-DISC entity.
Robert J. Misey
Reinhart Boerner Van Deuren
He is a shareholder in the firm's Tax and Business Law Departments and a co-chair of the International Department.... | Read More
He is a shareholder in the firm's Tax and Business Law Departments and a co-chair of the International Department. He is the author of "Practical Guide to U.S. Taxation of International Transactions."Close
Director of IC-DISC Department and Senior Tax Controversy Attorney
He has worked on IC-DISCs and R&D tax credits for corporate clients at Paradigm and at another consulting firm. In... | Read More
He has worked on IC-DISCs and R&D tax credits for corporate clients at Paradigm and at another consulting firm. In his practice, he also works with clients on other specialized tax incentives, energy tax credits, and sales and use tax matters.Close
He has more than 30 years of experience in corporate tax and is a member of the firm's International Tax... | Read More
He has more than 30 years of experience in corporate tax and is a member of the firm's International Tax Services Group, working on export incentives, foreign tax credit planning and related engagements. He previously was VP of tax at Hillenbrand Industries Inc. and worked with a Big Four firm.Close