0
| Author : | Andrew Clark, EA |
| Course Length : | Pages: 10 ||| Review Questions: 3 ||| Final Exam Questions: 5 |
| CPE Credits : | 1.0 |
| IRS Credits : | 1 |
| Price : | $14.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents |
| Primary Subject-Field Of Study: | Taxes - Taxes for Course Id 1418 |
| Description : | The Tax Cuts and Jobs Act will dramatically change the US tax code in 2018. This course will provide a quick review of the Exempt Organizations and International Tax Provisions portions of the Tax Cuts and Jobs Act Bill (H.R.1.). This course will provide a summary description of both the Exempt Organizations and International Tax Provisions sections referenced in the Tax Cuts and Jobs Act and will identify the provisions that were changed for exempt organizations and international tax provisions. |
| Usage Rank : | 0 |
| Release : | 2018 |
| Version : | 1.0 |
| Prerequisites : | Basic understanding of federal tax code. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Changes for Exempt Organizations under the Tax Cuts and Jobs Act and the Bipartisan Budget Act
|
| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 11-Oct-2019 |
| NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
| Approved Audience : | NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents - 1418 |
| Keywords : | Taxes, Tax, Cuts, Jobs, Act, Quick, Review, Exempt, Organizations, International, Tax, Provisions, For, 2018, Tax, Year, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives At the end of this course, students will be able to:
|
| Course Contents : | Chapter 1 - Overview of Exempt organizations and International Tax Provisions portions of the Tax Cuts and Jobs Act Course Learning Objectives Introduction EXEMPT ORGANIZATIONS Unrelated Business Income Clarification of unrelated business income tax treatment of entities exempt from tax under section 501(a) Exclusion of research income Unrelated business taxable income separately computed for each trade or business activity Excise Taxes Simplification of excise tax on private foundation investment income Private operating foundation Excise tax Provide an exception to the private foundation excess business holdings rules for philanthropic business holdings Requirements for Organizations Exempt From Tax Section 501(c)(3) organizations permitted to make statements relating to political campaign in ordinary course of activities in carrying out exempt purpose Additional reporting requirements INTERNATIONAL TAX PROVISIONS Establishment of Participation Exemption System for Taxation of Foreign Income Deduction for foreign-source portion of dividends received by domestic corporations Modification of subpart F Special rules relating to sales or transfers involving specified 10-percent owned foreign corporations Treatment of deferred foreign income Election to increase percentage of domestic taxable income offset by overall domestic loss treated as foreign source Rules Related to Passive and Mobile Income Deduction for foreign-derived intangible income and global intangible low-taxed income Special rules for transfers of intangible property from controlled foreign corporations Modifications Related to Foreign Tax Credit Repeal of section 902 indirect foreign tax credits; determination of section 960 credit on current year basis Source of income from sales of inventory determined solely on basis Separate foreign tax credit Acceleration of election to allocate interest Modification of Subpart F Repeal of inclusion based on withdrawal of previously excluded subpart F Repeal of treatment of foreign base company oil related income as subpart F Inflation adjustment of de minimis exception for foreign base company income Look-thru rule for related controlled foreign corporations Modification of stock attribution rules for determining CFC status Modification of definition of United States shareholder Elimination of requirement that corporation must be controlled for 30 days before subpart F Current year inclusion of foreign high return amounts or global intangible low-taxed income by United States shareholders Prevention of Base Erosion Base erosion using deductible cross-border payments between affiliated companies Limitations on income shifting through intangible property transfers Certain related party amounts paid or accrued in hybrid transactions Shareholders of surrogate foreign corporations Provisions Related to the Possessions of the United States Extension of deduction Extension of temporary increase in limit on cover over of rum excise taxes to Puerto Rico and the Virgin Islands Extension of American Samoa economic development credit Other International Reforms Restriction on insurance business exception to the passive foreign investment company Repeal of fair market value of interest Modification to source rules involving possessions Review Questions Glossary |
Login/Register