ARLINGTON, Va., March 15, 2012 /PRNewswire-USNewswire/ -- Reducing U.S. taxes on foreign income while also complying with Internal Revenue Codes can challenge any practitioner, particularly those with little international experience. Bloomberg BNA | CITE will host a live conference, Introduction to U.S. International Tax, April 23-24 in New York City, that will provide corporate controllers, tax managers, accountants, attorneys, and other corporate finance executives with a comprehensive understanding of how the U.S. taxes income from foreign operations.
The conference allows attendees to learn the A-B-C's of international taxation and examine the key principals of U.S. international tax, including foreign tax credits, Subpart F, and structuring foreign operations.
"Our experienced faculty of international tax professionals explain the pitfalls and opportunities of operating overseas and help attendees identify key tax issues in cross-border acquisitions and repatriating income from overseas," notes Diane Pastore, Executive Director at Bloomberg BNA | CITE. "Attendees will obtain valuable job skills that will enable them to network with other tax professionals, facilitate research in repatriating low tax foreign source income, and update their knowledge of the latest U.S. tax reporting and disclosure requirements."
Attendees will examine territorial versus worldwide tax systems; the rules under secs. 861-864, the statutory framework for the U.S. international tax provisions in the Code; and the U.S. transfer pricing regime under sec. 482.
Various sessions will address reporting the results of foreign operations, computing foreign tax credit benefits, understanding the Subpart F provisions, establishing a foreign corporation, and complying with the U.S. withholding tax regime.
By attending the two-day conference, attendees will:
Obtain a working knowledge of the basic international tax principles applied in the United States and in tax systems in other countries
Learn how the U.S. international tax system operates and how companies and individuals become liable for U.S. income or withholding tax
Find out the latest tax and business requirements in structuring foreign operations and activities
Discover how the U.S. foreign tax credit mechanism operates and reduces a company's U.S. tax liability dollar-for-dollar
Learn how the Subpart F provisions terminate deferral of U.S. tax on foreign profits and what businesses can do to prevent it
Determine how a company's intercompany transactions are subject to scrutiny by the IRS and the company's tax exposure on audit
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