Mastering Subpart F Tax Compliance: Key Reporting Requirements on Forms 5471 and 1118
Recording of a 90-minute premium CLE/CPE webinar with Q&A
This CLE/CPE course will provide tax professionals an in-depth discussion of the challenges of reporting Subpart F income. The panelist will discuss the proper methods of determining the Subpart F income earned by U.S. persons that qualify as U.S. shareholders of controlled foreign corporations (CFCs) and how to report such Subpart F income. The panelist will assist tax pros in navigating Forms 5471 and 1118 and will discuss tax planning techniques to minimize tax liability and penalties.
- Basic components of the Subpart F anti – deferral regime
- Determining Subpart F income
- Reporting Subpart F income on Form 5471
- Claiming the foreign tax credit for Subpart F income on Form 1118
- Best practices for ensuring accurate reporting of Subpart F income
The panelist will review these and other key issues:
- What are the tax compliance challenges for U.S. persons owning controlled foreign corporations?
- How has the application of Subpart F expanded post - TCJA?
- What are the challenges in determining and calculating Subpart F income?
- What are the main issues and pitfalls to avoid in preparing Forms 5471 and 1118?
Senior Manager / Director
Mr. Ting provides US international tax services to a broad range of clients including US and foreign multinational... | Read More
Mr. Ting provides US international tax services to a broad range of clients including US and foreign multinational corporations, private equity firms and other alternative investment funds. He has thirteen years of Big Four accounting firm experience in practicing US international tax. Mr. Ting also has in-house tax experience. Before embarking on a career in public accounting, he served as MasterCard’s International Tax Director. His tax practice covers all areas of US international tax including: US anti-deferral rules (Subpart F, GILTI and PFICs);Cross-border transactions and restructurings; Tax treaties; Cash repatriations; and Foreign tax credits.Close