The Not So Phantom Menace – Section 965 Transition Tax And How You Should File Your 2017 Taxes

US Tax IQ | Section 965 Transition Tax

This Webinar Replay is Available for Purchase

The Not So Phantom Menace – Section 965 Transition Tax And How You Should File Your 2017 Taxes!


On June 5, 2018 at 12:00pm (Eastern Time), join us for a free webinar with U.S. tax attorney Alexey Manasuev, LL.M. (Int’l Tax), NYU, TEP, and U.S. tax accountant  Brandon Vucen, CPA, CA, CPA (IL), MST, who will discuss the new transition tax imposed by U.S. Internal Revenue Code Section 965 and clarify how U.S. Shareholders of certain Canadian and foreign corporations need to file their 2017 tax returns due June 15, 2018.
The U.S. Tax Reform passed in December 2017 made many critical changes to the U.S. tax regime for U.S. citizens and Green card holders residing in Canada and outside the United States. One of the critical provisions of the new U.S. tax law is the transition tax (also referred to as mandatory repatriation) imposed by  Section 965 of the Internal Revenue Code. Any U.S. shareholder of a Canadian (or foreign) corporation may be subject to a one-time tax on positive accumulated post-1986 earnings and profits. There are limited opportunities to mitigate the impact of the transition tax. In addition, certain steps need to be taken to properly report the transition tax on one’s 2017 U.S. tax return. This webinar will go into the nuts and bolts of the transition tax, especially relevant to U.S. citizens and Green card holders who own shares in non-U.S. corporations and do not live in the United States. The webinar will share some transition tax mitigating strategies and address critical tax compliance matters.
Specific areas we will go through:
•  Who is affected by the transition tax; •  The calculation of the transition tax; •  Importance of the calendar vs. fiscal year end for purposes of the transition tax; •  2017 tax filing and tax payment deadlines and available extensions; •  Tips on amending already filed 2017 tax returns; and •  Practical tax planning and tax compliance tips and recommendations.
To understand this intricate area of the new U.S. Tax Reform further, register and advance your knowledge for you and your clients’ tax reporting requirements.
We hope to see you then!


Very truly yours,
U.S. Tax IQ Team