Foreign Tax Essentials for U.S. Practitioners - Exclusions, Credits and Reporting ON DEMAND

Overview

Global mobility is now routine, and so are the foreign tax surprises that come with it. In this course, you’ll gain practical, real-world guidance on applying the Foreign Earned Income Exclusion and Foreign Tax Credit, avoiding costly compliance missteps, and confidently navigating key reporting rules such as FBAR, FATCA, and expatriation filings. Through clear explanations, planning insights, and practical examples, you’ll strengthen your ability to advise U.S. taxpayers abroad, minimize double taxation, and know when complex situations require specialized expertise.

Highlights

Foreign tax essentials.

Prerequisites

Work experience in tax planning or tax compliance, or an introductory course in taxation.

Designed For

CPAs and tax professionals.

Objectives

Identify taxpayers subject to U.S. worldwide taxation and determine residency status under IRC Section 7701(b). Recall IRC Section 911 requirements for the Foreign Earned Income Exclusion and housing exclusion and recognize Form 2555 reporting considerations. Indicate the allowable Foreign Tax Credit under IRC Section 901-909 and Section 904, including limitations, baskets, and carryover rules, for Form 1116. Recognize common international reporting requirements and evaluate when referral is appropriate.

Preparation

None.

Notice

None.