Preparing Forms 8992 and 8993 for GILTI and FDII: Recent Updates, Tested Income, QBAI, and Related Schedules
Recording of a 110-minute CPE webinar with Q&A
This course will guide international tax professionals through preparing and calculating amounts for reporting on Forms 8992 and 8993 for GILTI (Global Intangible Low-Taxed Income) and FDII (Foreign Derived Intangible Income). Our veteran foreign practitioners will discuss the concepts behind the numbers, recent changes to these forms, and caveats to avoid in preparing these complicated forms and their related schedules.
Outline
- GILTI and FDII: introduction
- Form 8992
- Filing requirements
- Recent changes
- Preparing the form
- Form 8993
- Filing requirements
- Recent changes
- Preparing the form
Benefits
The panel will review these and other critical issues:
- What is the purpose of the new Schedule B added to Form 8992?
- How is Schedule A prepared to report GILTI on Form 8992?
- When should an amended return and Form 8993 be filed for taxpayers making a Section 962 election?
- What are the most recent changes to Forms 8992 and 8993?
Faculty
James Doub, CPA, MST
Global Tax Services Manager
Crowe
Mr. Doub provides extensive assistance and guidance in many global structure optimization and implementation projects... | Read More
Mr. Doub provides extensive assistance and guidance in many global structure optimization and implementation projects that satisfy business goals and requirements, control costs and reduce global taxes. In such projects, his team provides tax services with respect to business financing, supply chain management, intellectual property development and migration, U.S. and local country taxation, foreign tax credit planning and utilization, qualifying for and supporting special tax deductions, customs & duties and other similar services.
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Alison N. Dougherty, J.D., LL.M., CPA
Partner
Aronson
Ms. Dougherty specializes in U.S. international tax reporting, compliance, consulting, planning, and structuring as a... | Read More
Ms. Dougherty specializes in U.S. international tax reporting, compliance, consulting, planning, and structuring as a significant contributor to the firm’s international tax practice. She has extensive experience assisting clients with U.S. tax reporting and compliance for offshore assets and foreign accounts. Ms. Dougherty provides outbound U.S. international tax guidance to U.S. individuals and businesses with activities in other countries. She also provides inbound U.S. international tax guidance to nonresident individuals and businesses with activities in the U.S. Ms. Dougherty has counseled U.S. taxpayers regarding the outbound formation, capitalization, acquisition, operation, reorganization, and liquidation of foreign companies. She has significant experience with U.S. federal nonresident tax withholding, foreign partner tax withholding, and FIRPTA withholding. She works closely with nonresident individuals and businesses regarding inbound U.S. real property investment. Additionally, Ms. Dougherty has assisted U.S. taxpayers with IRS amnesty program disclosures of offshore assets and foreign accounts.
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Sergei Mytko, J.D.
Global Tax Services Partner
Crowe
Mr. Mytko specializes in international tax compliance, international tax planning, and cross-border M&A. He has... | Read More
Mr. Mytko specializes in international tax compliance, international tax planning, and cross-border M&A. He has more than 20 years of experience providing due diligence and structuring for acquisitions, dispositions, and financing transactions, including post-merger integration, and related tax reporting and compliance services.
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