Mechanisms for Offsetting U.S. Taxation of Foreign Income
Foreign Income Exclusion and Foreign Tax Credit Simplified -Recorded 10/2/18
U.S. citizens and residents generally pay U.S. tax on their worldwide income. U.S. law provides for both a foreign earned income exclusion and a foreign tax credit to mitigate double taxation. This class will review both mechanisms in-depth and discuss strategies for determining which is the optimal strategy.
Learning Objectives:
- Define the requirements for qualifying for the foreign earned income exclusion.
- Identify how to elect or revoke the foreign earned income exclusion.
- Define the requirements for qualifying for the foreign tax credit.
- Compute the foreign earned income exclusion and foreign tax credit.
- Analyze how to select the best mechanism for offsetting U.S. tax.
Your registration includes 2 IRS CE as well as:
- Downloadable course manual and implementation tools as appropriate. These materials are available for download when you log into the webinar.
- The opportunity to listen to the optional presenter and the other members of the Compass Tax Educators instructional team during the optional question-and-answer session held during the original recording.
Prerequisite: None
Advanced Preparation: None
Program Level: Basic
IRS Program Number for Self-Study On-Demand Webinar: NMVBP-T-00109-18-S
Delivery Method: Self-study/On-demand
Field of Study: Federal Tax Law (IRS)
Credit hours: 2 IRS
All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators. 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.
IRS Provider Number: NMVBP This webinar has been designed by Gregory & Associates, Inc. to meet the requirements of the IRS Return Preparer Office, including sections 10.6 and 10.9 of Department of Treasury's Circular No. 230. This does not constitute an endorsement by the IRS RPO.
Webinar Policies, Refunds, Cancellations:
CE credits are available on the on-demand webinars only by receiving a passing score of 70% on the quiz that is available to you after completion of the on-demand webinar. The quiz must be completed within 3 months of the date the on-demand webinar is purchased to qualify for CE credit. Upon completion of the quiz, send an email to [email protected] with your name and PTIN if you wish to have IRS CE credit uploaded on your behalf and your PTIN doesn't appear on the certificate.
Compass Tax Educators provides high quality instruction and content. There are no refunds for the purchase of on-demand webinars, but if you experience technical difficulties while viewing a webinar, contact us to resolve the issue.
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.
Course Curriculum
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Text - Mechanisms for Offsetting U.S. Taxation of Foreign Income
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Power Point - Mechanisms for Offsetting U.S. Taxation of Foreign Income
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Webinar - Mechanisms for Offsetting U.S. Taxation of Foreign Income
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CE Quiz - Mechanisms for Offsetting U.S. Taxation of Foreign Income
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Evaluation - Mechanisms for Offsetting U.S. Taxation of Foreign Income
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About this course
- $79.00
- 5 lessons
- 1.5 hours of video content
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.