Section 988 Foreign Currency Gains and Losses: Identifying and Reporting Transactions, Elections and Exceptions
A live 110-minute CPE webinar with interactive Q&A
This webinar will discuss the wide reach of IRC Section 988 and explain the tax treatment of foreign currency transactions on businesses, CFCs, and Americans living abroad. Our panel of international tax experts will cover transactions taxed under Section 988, tax-saving elections, and the exceptions to taxation of nonfunctional currency transactions.
- IRC Section 988: an overview
- Transactions covered under Section 988
- Applicable taxpayers
- Notable cases
The panel will review these and other key issues:
- Common scenarios subject to Section 988 treatment
- Elections available for Subpart F income subject to Section 988
- Exceptions to Section 988 treatment of gains and losses
- Mark-to-market treatment of gains and losses from foreign currency exchanges
- Reporting Section 988 gains and losses
Mr. Gifford serves in the firm's International Corporate Services Practice. He focuses on working primarily with... | Read More
Mr. Gifford serves in the firm's International Corporate Services Practice. He focuses on working primarily with U.S. and foreign-owned multinational corporate clients with either U.S. inbound or outbound activities. Mr. Gifford is experienced in complex structuring planning, provision preparation assistance and review, and tax compliance preparation for companies in the communications, financial services, and defense contractor industries. He is a frequent author and speaker on tax issues.Close
William R. Skinner
Fenwick & West
Mr. Skinner focuses his practice on U.S. international taxation, with a particular emphasis on tax planning and... | Read More
Mr. Skinner focuses his practice on U.S. international taxation, with a particular emphasis on tax planning and international corporate transactions. He has broad experience in international tax issues for U.S. corporations, foreign corporations, and high net-worth individuals, and has represented clients across a variety of industries. He teaches international taxation as an adjunct professor in San Jose State University’s MST program, and speaks and writes frequently on international and corporate tax issues.Close
Early Discount (through 10/29/21)
CPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event. See NASBA details.