International Tax: Foreign Trusts for U.S. Taxpayers
SKU: 06-420-01-CPE
Credit Hours: 1
CPE Category: Taxes
CE Category: Federal Tax
Delivery Method: Video
Instructor: Patrick J. McCormick, J.D., LL.M.
Course Description:
This course introduces United States tax considerations (both income and estate/gift) associated with foreign trust structures. The program reviews classification considerations under American rules for foreign trust structures, then details how a trust becomes “foreign” under U.S. standards.
This course will cover the following Learning Objectives:
- Know how to determine whether a foreign entity is a passive foreign investment company
- Understand the default rules for PFIC taxation and elections available to alter the same (QEF and MTM elections)
- Learn how PFIC interests are reported for tax return purposes