This class provides an overview of the foreign tax credit. Topics to be covered include what taxes qualify for the foreign tax credit, how claiming the foreign tax impacts other tax return items, basic calculation issues, exceptions to filing Form 1116, and how the foreign tax credit interacts with the foreign earned income exclusion.

Learning Objectives

  • Describe what foreign income taxes are creditable and which are not.
  • Explain how to complete a basic Form 1116 and when Form 1116 is not needed to claim the foreign tax credit.
  • Calculate the interaction between the foreign earned income exclusion and the foreign tax credit.

Education Information

IRS Program Number: NMVBP-T-00184-21-O

Length: 100 minutes plus optional question-and-answer session (no CE)

Prerequisite: None

Advanced Preparation: None

Program Level: Basic

Delivery Method: Online Webinar/Group Internet Based

Field of Study: NASBA Taxes; IRS Federal Tax Law Topics/Federal Tax Related Matters

Credit hours: 2 CPE/CE

All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators.  IRS CE and NASBA CPE credits are available for the live webinars by responding to polling questions that randomly appear during the live event.  Attendees must respond to the required number of poll questions for each CE/CPE 50 minute hour; if you meet that minimum and if you have provided a valid PTIN, your CE is  automatically reported to and a CE/CPE certificate is generated within 10 days of the event. 

See below for more information regarding administrative policies, such as complaints or refunds, or contact Sherrill Trovato, EA, USTCP, President of Gregory & Associates, Inc., at 714.777.9359.  There are no prerequisites or advanced preparation required for this webinar.  

OFFICIAL NATIONAL REGISTRY OF CPE SPONSORS STATEMENT:  Gregory & Associates, Inc. dba Compass Tax Educators is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:  

IRS CE: Gregory & Associates, Inc., IRS Provider Number MNVBP, dba Compass Tax Educators is authorized by the IRS Return Preparer Office to offer CE to enrolled agents in accordance with their policy for the live course sessions under Treasury Department Circular 230 Sections 10.6(f) and 10.9. This does not constitute an endorsement by the IRS RPO.

Webinar Policies, Refunds, Cancellations: 

Ticketing ends 30 minutes prior to the live event, or 1:30 PM ET.

If you are unable to attend the live webinar for any reason, you can cancel up to 12:00 PM ET the day before the webinar begins. If you cancel, you can receive either a refund of fees paid, less a $35 administrative fee, or access to the on-demand webinar on the same topic. 

If you have any questions regarding our refund policy, or any other administrative policy, please contact Sherrill Trovato, EA, USTCP at 714.777.9359 or Geri Bowman, CPA, EA, USTCP at 330.628.0415.

About the instructor

EA CTP USTCP Thomas Gorczynski

INSTRUCTOR THOMAS A. GORCZYNSKI, EA, CTP, USTCP is the Senior Tax Consultant at Gorczynski & Associates, LLC in Phoenix, AZ.  He is an enrolled agent, a Certified Tax Planner, a Fellow of the National Tax Practice Institute (NTPI), and was admitted to practice before the United States Tax Court in 2015. He earned a Master of Science in Taxation from Golden Gate University and a Certificate in Finance and Accounting from the Wharton School at the University of Pennsylvania. His firm specializes in tax preparation for small business owners and individuals with foreign income and asset reporting requirements, tax controversy representation, and advanced tax planning strategies.  Tom is a nationally-known speaker on tax law and procedure and has spoken for the National Association of Enrolled Agents (NAEA), the California Society of Enrolled Agents Super Seminars, and other national, state, and local organizations.  He also is a skilled technical writer on tax law and strategy and published in EA Journal. 

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