| Acronym |
XCAAITT18 |
| CPE |
1 hour |
| Vendor |
CalCPA |
Category
|
Taxation |
| Level |
Overview |
| Prerequisite |
None |
| Adv Prep |
None |
| Yellow Book? |
No |
| Designed for |
Tax practitioners advising U.S. taxpayers on foreign tax issues or preparing income tax returns for Americans abroad. |
|
| Registration |
|
| Member |
$30 |
| CPA Non-Member |
$50 |
|
The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.
|
Course Description
The default U.S. tax treatment of a foreign retirement account is likely to be a nonqualified plan, but this can cause unexpected income tax consequences for the unsuspecting taxpayer. In some cases, an income tax treaty election can solve the problem and cause the foreign retirement account to be treated like a domestic tax-deferred qualified pension plan.
Analyze a foreign retirement account to determine the appropriate U.S. tax treatment; learn how to comply with the reporting requirements; and identify when a treaty provides tax benefits for the plan and how to claim the treaty election on Form 8833.
Objectives
- Determine when foreign retirement accounts are tax-deferred or taxable accounts.
- Identify when and how to make income tax treaty elections for foreign retirement accounts.
- Recognize the correct taxation of and reporting for foreign retirement accounts.
Major Topics
- Foreign retirement plans
- Income tax treaties
- Form 3520, Form 3520-A and Form 8938
Note: Login instructions will be provided by the webcast vendor (CalCPA).
