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IRS Form 5471: Information Return for U.S. Persons With Respect to Certain Foreign Corporations

Webinar: ID# 1010845
Recorded CD
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About This Course:
As more U.S. companies view global markets as a necessity to survive and to grow, more U.S. companies own foreign subsidiaries to conduct foreign operations. Whether you are multinational with subsidiaries all over the globe or a closely-held business with a Canadian subsidiary, you will have to file IRS Form 5471 for every foreign corporation that you own.

Although an information return, the Form 5471 is the place the IRS starts when auditing U.S. businesses that own foreign corporations. As a result, the proper preparation of the Form 5471 will offer the opportunity to document your planning and avoid audit-related pitfalls.

In this live audio conference, you will learn the law behind and the mechanics of how to prepare a Form 5471. New enforcement policies of the IRS with respect to failure to file Forms 5471 will also be addressed.

Learning Objectives:

  • You will be able to discuss currency translation rules for Schedules C, E and F.
  • You will be able to review earnings and profits for Schedules H and J.
  • You will be able to explain how to properly report on Schedule M.
  • You will be able to describe Subpart F Rules.

Agenda:

I. Determining the Proper Category of the Filer Which Involves an Analysis of Subpart F Rules

II. Understanding the Currency Translation Rules for Schedules C, E and F

III. Determining Earnings and Profits for Schedules H and J

IV. Determining the Nature and Amount of Intercompany Transactions, Which Must Be Properly Reported on Schedule M

The Presenters:

Amy L. Barnes, Reinhart Boerner Van Deuren s.c.

  • Member of the Tax Practice of Reinhart Boerner Van Deuren s.c.
  • Advises on tax planning matters and negotiates with taxing authorities to resolve tax controversy matters
  • Analyzes alternatives for structuring tax-free acquisitions
  • Addresses executive compensation issues, including parachute payments and section 409A compliance
  • J.D. degree, magna cum laude, Marquette University Law School; B.B.A. degree in finance and real estate, with distinction, University of Wisconsin-Madison

Adam R. Konrad, Reinhart Boerner Van Deuren s.c.

  • Member of the business, international and tax departments of Reinhart Boerner Van Deuren s.c.
  • Assists clients in a wide range of industries with international tax and business matters, such as mergers and acquisitions, transfer pricing and export benefits
  • Previously interned with the German competent authority
  • J.D. and LL.M. degrees in international and comparative law, Cornell Law School; studied international law, Université Paris I Panthéon-Sorbonne in Paris, France and Bucerius Law School in Hamburg, Germany


Who Should Attend:

This live audio conference is designed for accountants, tax managers, accounts payable professionals, bookkeepers, CFOs, controllers, enrolled agents, business owners and managers, presidents, vice presidents, CEOs, business and financial analysts, risk managers, operations managers, and consultants.

Continuing Education Credit

Credit is available only for the LIVE webcast. Recorded versions do not qualify for credit. Only registered and paid attendees will receive continuing education credit. Certificates of Completion are provided to each registered attendee. Your certificate will be emailed to you within two weeks following completion of the program.

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IRS Form 5471: Information Return for U.S. Persons With Respect to Certain Foreign Corporations
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