Green Hasson Janks International Tax Partner Polina Chapiro spoke at STEP Los Angeles event on U.S. foreign reporting forms and related compliance issues. Tax laws have undergone significant changes as a result of the Tax Cuts and Jobs Act of 2017 and so have many of the international tax forms. Polina’s in-depth discussion with Pam Drucker of Andersen Tax covered the following:
- Overview of International U.S. Tax Forms
- U.S. Shareholders of Foreign Corporations – Overhaul of Form 5471.
- Forms for Reporting GILTI, BEAT and FDII
- Changes to Foreign Tax Credit Reporting
- Continuing Transition Tax Reporting Considerations
- Pitfalls and Common Errors Made in Completing Foreign Reporting Forms
- New Penalty Structure for International Tax Reporting
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