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Overview of Foreign Tax Credit
Tax
CPE Self-study

Overview of Foreign Tax Credit

Cover the Foreign Tax Credit Rules and key concepts.

$79.20 - $129
Do you have an AICPA membership? Log in to apply your member discount.

Format

Online

NASBA Field of Study

Taxes

Level

Basic

CPE Credits

4.5

Author(s)

Shannon Berryman, Eric Johnson, David Zaiken, David Han, Brandon Joseph

Availability

1 year

Product Number

ITCE21SSO

 Business & partner 
Product Details

Understand the key concepts.

This self-study online course is part of the U.S. International Tax Certificate, a comprehensive learning program geared to help global finance and accounting professionals navigate the highly complex world of international taxation. This course can be purchased individually or as part of the U.S.International Tax: Inbound and Outbound Transactions bundle. You must purchase the bundle to earn the digital badge.

The CPE self-study course covers, in more detail, the Foreign Tax Credit (FTC) Rules and key concepts. It then focuses on key concepts of the expense apportionment rules, including general methods, alternative methods, and special rules such as "Controlled Foreign Corporation (CFC) netting."

Finally, it discusses foreign tax splitter arrangements under Section 909 and the impact of Section 901(m) on indirect paid credits.

Key Topics
  • Summary of the FTC rules
  • Sections 901, 902, and 960
  • Separate Basket FTC Limitations and Look-Through Rules, Separate Limitation Losses
  • Overall Foreign Loss (OFL)
  • Overall Domestic Loss (ODL)
  • Indirect credit and lower tier subsidiaries
  • Review of Section 861 rules
  • Alternative allocation methods available
  • CFC netting rules
  • Tax book value methods
  • Impact of branches on expense allocations
  • Cover splitter structures and impact on FTC
  • Impact from 901(m)
Learning Outcomes
  • Identify eligible foreign tax credits
  • Recognize the value of foreign tax credits
  • Apply key foreign tax concepts
  • Calculate foreign tax credit and limitation
  • Explain some of the complexities with OFL, ODL
  • Identify foreign tax credit issues in client discussions
  • Understand purpose and approach of Section 861
  • Explain allocation/apportionment methods available for interest, R&E, and other relevant expenses
  • Calculate allocation of expenses under standard and alternative methods
  • Explain impact of branches and CFC netting rule on expense allocations and apportionment
  • Describe the operation of the section 909 rules
  • Identify when the section 909 rules apply
  • Show applicability and impact of section 901(m) and relationship to section 338 elections
Credit Info
CPE Credits
Online
4.5
NASBA Field of Study
Taxes
Level
Basic
Prerequisites
None
Access
Online
This is a digital product. With full paid access the content will be available to you for 1 year after purchase date.
Pricing
Do you have an AICPA membership? Log in to apply your member discount.
Nonmembers
Online
$129.00
AICPA Members
Online
$99.00
Tax Section Members
Online
$79.20

Group ordering for your team

2 to 5 registrants

Save time with our group order form. We’ll send a consolidated invoice to keep your learning expenses organized.

Start order

6+ registrants

We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at salessupport@aicpa.org

Contact us
Instructors
Shannon Berryman
Eric Johnson
David Zaiken
David Han
Brandon Joseph
Accessibility

The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services. The Association is committed to making professional learning accessible to all. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. For accommodation requests, please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.

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Shipping costs  and sales taxes will be added later during checkout
Cancellation Policy
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Overview of Foreign Tax Credit
Select from the following options:
Online
$129.00
Nonmember Price
$129.00
Price excluding sales tax
$129.00
Do you have an AICPA membership? 
Log in to apply your member discount.
Shipping cost and sales tax will be added later during checkout

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