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International Tax Lunch: Form 8621: Mark-to-Market and QEF Basics - 4173349A
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Passive foreign investment companies (PFICs) have a notoriously punitive tax treatment. Fortunately, there are two different elections that may be made to reduce tax. Learn how the Mark-to-Market and QEF elections can provide a better tax result than the default treatment, when those elections may be used and how to perform the necessary calculations and prepare Form 8621.

7/14/2017
When: 1:00 PM to 2:00 PM
Where: Webcast
CalCPA
4173349A
United States
Presenter: Debra Rudd, CPA
Contact: April Deneault
801-466-10187


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Curriculums:   International Individual Taxation, Tax Planning

NASBA Credit Category:  Taxes

CPE Hours:  1

Description

Passive foreign investment companies (PFICs) have a notoriously punitive tax treatment. Fortunately, there are two different elections that may be made to reduce tax. Learn how the Mark-to-Market and QEF elections can provide a better tax result than the default treatment, when those elections may be used and how to perform the necessary calculations and prepare Form 8621.

Materials are provided as an ebook for this course.



Major Subjects

  • Passive foreign investment company elections
  • Mark-to-Market
  • QEF
  • Marketable securities
  • PFIC Annual Investor Statement

Objectives

  • Understand the three different tax treatments for PFICs.
  • Identify the criteria necessary for the MTM or QEF elections to apply.
  • Calculate income under the MTM and QEF elections.
  • Recognize the correct methods of reporting income under the MTM and QEF elections on Form 8621.

Level:  Overview

Designed For

CPAs and attorneys.

Advanced Prep:

None.

Prerequisite

None.

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