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CPE Self-Study
Foreign Losses, Foreign Currency, and Compliance
NASBA FIELD OF STUDY
Taxes
LEVEL
Basic
CPE CREDITS
Online: 4.5
Focuses on the dual consolidated loss rules.

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Find out more information on the Tax Section.

CPE On-Demand
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Product details

Build a solid foundation.

Who Will Benefit?

  • Public and corporate tax professionals interested in building a solid foundation in U.S. international taxation.

Key Topics

  • Identifying applicability
  • Calculating DCL
  • Triggering events
  • Compliance
  • Sections 987, 988, 989, 986(c)
  • Forms 5471, 8858, 8865, 926
  • Transactional disclosures

Learning Objectives

  • Identify fact patterns that may give rise to a Dual Consolidated Loss
  • Recognize triggering events that may give rise to Dual Consolidated Loss Recapture
  • Identify certain exceptions to triggering events
  • Apply Dual Consolidated Loss reporting requirements
  • Determine what is considered a Qualified Business Unit (QBU) under §989
  • Determine functional currency for foreign entities under §985
  • Recognize the complexities of branch and disregarded entity (DRE) currency transactions under §987
  • Explain currency translation rules under §986
  • Identify a section 988 transaction
  • Identify the various types of international reporting forms and how they apply to given situations
  • Identify when special transactional disclosures are required
  • Complete Forms 5471, 8858, 8865, and 926
  • Identify the consequences of non-compliance

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 focuses on the Dual Consolidated Loss (DCL) rules. It then covers various foreign currency rules and regimes under U.S. tax law. Finally, there is a detailed session on U.S. Federal income tax compliance regarding outbound compliance.

Ratings and reviews
Author(s)

Brandon Joseph

Eric Johnson

Maria Chiarino

Pamela Whitehead

Sam Edvalson

Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Price:
$129.00
Member Quantity:
Nonmember Quantity:
Quantity:
Estimated total:
$129.00
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CREDIT INFO
CPE credits
Online
: 4.5
NASBA Field of Study
Taxes
Level
Basic
Prerequisites
None
ADVANCE PREPARATION
None
Delivery Method
QAS Self-Study
Course acronym
ITC_18F_1
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