Introduction to US Outbound and Inbound Transactions

Tax strategy, planning, compliance

Course

Introduction to US Outbound and Inbound Transactions

Instructors: F. Douglas Watson, CPA, J.D., LL.M.; Kyle Brandon, CPA; Denise Clark, CPA, M.S.

  • Format

    Course - Online

  • Level

    Basic

  • Duration

    6h

This course covers inbound taxation topics that include calculating effectively connected income, sourcing income, the branch profits tax, the Foreign Investment in Real Property Tax Act.

Learning outcomes

  • Identify business transactions that generate outbound tax issues.
  • Recognize the approach for taxing U.S. persons with foreign activities.
  • Describe the key tax reform provisions affecting outbound transactions.
  • Recall the basics of the anti-deferral provisions applicable to controlled foreign corporations.
  • Recognize foreign currency issues affecting outbound transactions.
  • Recognize reporting requirements applicable to U.S. persons invested in foreign corporations, foreign disregarded entities, and/or foreign partnerships.
  • Recall effectively connected income (ECI) to a U.S. trade or business
  • Recall the rules for sourcing of income
  • Recall the rules for fixed or determinable, annual or periodic gains, profits, and income (FDAP)
  • Identify a framework for determining and calculating ECI and the Branch Profits Tax (BPT)
  • Indicate a general framework on the U.S. withholding taxes

£99.00 (CIMA members only)

£129.00

VAT calculated on checkout

Product information

Overview

This self-study online course is part of the U.S. International Tax Certificate program, a comprehensive learning program geared to help global finance and accounting professionals navigate the highly complex world of international taxation. This course can be purchased individually or as part of the U.S. International Tax: Core Concepts bundle. You must purchase the bundle to earn the digital badge.

This course provides a solid foundation of U.S. inbound and outbound taxation and key concepts that are related, beginning with the business transaction that generate outbound tax issues in the U.S. tax system. This includes the introduction to the one-time transition tax introduced by the Tax Cuts and Jobs Act of 2017. Concepts related to global intangible low-taxed income, foreign tax credits, foreign currency, and foreign-derived intangible income are also covered.

This course covers inbound taxation topics that include calculating effectively connected income, sourcing income, the branch profits tax, the Foreign Investment in Real Property Tax Act. This course navigate yous in how to interpret tax treaties and how they can reduce U.S. income and withholding taxes. The Base Erosion Anti-Abuse Tax created by the Tax Cuts and Jobs Act is covered.

Topics covered

  • One-time transition Tax
  • GILTI
  • Dividends Received Deduction
  • Foreign-Derived Intangible Income
  • Foreign Currency
  • Entity Classification options
  • Effectively Connected Income
  • Branch Profits Tax
  • Withholding Taxes
  • Foreign Account Tax Compliance
  • Foreign Investment in Real Property Tax
  • Tax Treaties
  • Base Erosion Anti-Abuse Tax

Who should take this course?

  • Tax professionals with 1-3 years of experience

Professional development

This Course - Online offers 6 hours of CPE credit.
Note on CPE Requirements and Credits
All learning resources available in the CGMA Store qualify for CPD for CIMA members.

Field of study: Taxes
Prerequisites:None
Programme level:Basic
Duration:6h
Format:Course - Online
Access:This is a digital product. You will have access to the content for a year after purchase date.

Return and refund policy

£99.00 (CIMA members only)

£129.00

VAT calculated on checkout

Instructors

  • F. Douglas Watson, CPA, J.D., LL.M.

  • Kyle Brandon, CPA

  • Denise Clark, CPA, M.S.