Section 965: Income Inclusion and Deduction for 10% Shareholders

The 2017 tax law requires 10% or more shareholders of foreign corporations to include in their income their share of the earnings and profits of the foreign corporation, generally in 2017. In this video, you will learn:
Time Topic
00:00 Introduction & overview
01:17 Deadline March 15 or April 15
01:32 To whom it applies
02:18 Inclusion required
03:13 Deduction: 55% or 77%
04:00 Example (simplified, but with some detail)
06:19 Election to pay in installments (8% in 2017)
07:08 Future repatriation tax free
07:42 Special rules for S corporations
08:28 To Do list (checklist)
10:13 Wrap up

Resources:
Text of new law as presented for signature (not yet in US Code): https://www.congress.gov/115/bills/hr1/BILLS-115hr1enr.pdf

There are no exercises for this topic.

For more information: contact Stephen C. Fox, CPA, sfoxcpa.com

Видео Section 965: Income Inclusion and Deduction for 10% Shareholders канала International Tax