• videocam On-Demand Webinar
  • signal_cellular_alt Intermediate
  • card_travel Tax Law
  • schedule 90 minutes

Nonresident Alien and Foreign Business Tax Compliance: Critical Tax Presence and Residency Issues

Key Reporting and Compliance Challenges, Protective Filings, Relief Under Rev. Proc. 2020-20 and Rev. Proc. 2020-27

$347.00

This course is $0 with these passes:

CLE
CPE
ALL
  1. keyboard_arrow_leftBack

About the Course

Introduction

This CLE/CPE course will guide tax professionals and advisers on critical tax presence and residency issues for individuals and businesses stemming from COVID-19.

Description

The health risks of COVID-19 and federal and local government responses create tax presence and residency issues for businesses and individuals. Tax professionals and advisers must have a solid understanding of the relevant rules for nonresident aliens and non-U.S. businesses and their interplay with recent Treasury and IRS guidance in light of the coronavirus pandemic.

On Apr. 21, 2020, in response to COVID-19 and travel and other disruptions, Treasury and the IRS provided guidance, specifically Rev. Proc. 2020-20 and Rev. Proc. 2020-27, along with “Frequently Asked Questions” issued by the IRS, to mitigate potential negative tax consequences for individuals and businesses, including with respect to residency, the foreign income exclusion, and U.S. trade or business and permanent establishment issues.

Listen as our panel guides tax professionals and advisers in determining taxpayer status for non-U.S. citizens and businesses, challenges for U.S. citizens currently working abroad, reporting requirements and available mechanisms in light of recent IRS guidance, and best practices for taxpayers.

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • CPE credit is not available on recordings.

  • BARBRI is a NASBA CPE sponsor and this 90-minute webinar is accredited for 1.5 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).


  • Live Online


    On Demand

Date + Time

  • event

    Thursday, July 16, 2020

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

  1. Tax presence and residency issues created by COVID-19
  2. Tax issues for non-U.S. individuals and businesses
  3. Tax issues for U.S. citizens forced to stay abroad
  4. Compliance and reporting challenges for taxpayers

The panel will review these and other key issues:

  • What is the impact of COVID-19 on the tax presence and residency of individuals and businesses?
  • How does Rev. Proc. 2020-20 impact the application of the "substantial presence test"?
  • How does Rev. Proc. 2020-27 impact the foreign earned income exclusion?
  • How do IRS “Frequently Asked Questions” impact the determination of whether a business is considered to have a U.S. trade or business or permanent establishment?
  • How should taxpayers document positions and anticipate future audits?

Learning Objectives

After completing this course, you will be able to:

  • Recognize the impact of COVID-19 on the tax presence and residency of individuals and businesses
  • Identify key provisions and issues associated with recently issued Rev. Proc. 2020-20 and Rev. Proc. 2020-27
  • Recognize allocation issues associated with U.S. and non-U.S. businesses with employees working away from their home jurisdiction
  • Ascertain methods for managing potential nonresident audits and overcoming other regulatory, reporting, and compliance challenges
  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization, preparing complex tax forms and schedules; supervisory authority over other preparers/accountants. Specific knowledge and understanding of partnership tax rules, corporate structure, and state audit and tax regulations.

BARBRI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .