Mastering Form 5471 for Interests in Foreign Entities: Determining Ownership Share and Correct Filing Status
Recording of a 110-minute CPE webinar with Q&A
This webinar will provide tax return preparers with a solid basis for handling difficult issues in completing Form 5471 (Information Return of U.S. Persons With Respect to Certain Foreign Corporations). The panel will explain approaches for correctly identifying taxpayer categories and avoiding serious, but common, mistakes. In addition, the panel will highlight compliance and IRS audit issues that relate to disclosures on Form 5471.
- Purpose of Form 5471
- Who is required to file
- Preparation of Form 5471
- Difficult compliance issues
- IRS enforcement and audit environment to date
- Background on Form 5471 penalties
- Penalty structure for Form 5471
- Use of Form 5471 as an IRS audit tool
The panel will review these and other key concepts:
- Understand the purpose of Form 5471, the categories of U.S. persons required to file, and reporting requirements
- Master reporting financial and operational information needed to complete the form
- Grasp key U.S. international tax reporting rules and obligations of U.S. persons with interests in foreign corporations
- Avoid audit red flags and common errors that the Service looks for when reviewing Form 5471
Alison N. Dougherty, J.D., LL.M.
Ms. Dougherty has extensive experience assisting clients with U.S. tax reporting and compliance for offshore assets and... | Read More
Ms. Dougherty has extensive experience assisting clients with U.S. tax reporting and compliance for offshore assets and foreign accounts. She specializes in international tax compliance, planning and structuring as a subject matter leader of her firm's international tax practice. Her responsibilities include U.S. Federal and multi-state tax compliance for C corporations, S corporations, partnerships and individuals. She also provides transactional tax planning and structuring services.Close
Holthouse Carlin & Van Trigt
Mr. Samtoy’s practice specializes in international tax compliance and consulting services, with a focus on... | Read More
Mr. Samtoy’s practice specializes in international tax compliance and consulting services, with a focus on individuals, closely-held businesses, and hedge funds. He has particular expertise in structuring and reporting foreign manufacturing arrangements and foreign holding companies, and is experienced in foreign asset disclosure requirements, as well as foreign trust and estate reporting.Close
Other Formats— Anytime, Anywhere
CPE On-DemandSee NASBA details.