International Tax Lunch: How To Report An Accumulation Distribution From A Foreign Nongrantor Trust Webcast | 4193819A

Instructors

Date :
July 12, 2019 12:00 PM - 1:00 PM
Location :
Webcast
Facility :
Webcast Remote
Level of Difficulty :
Overview
Member Price :
37.00
Nonmember Price :
50.00
CPE Credits :
CPE 1.00, MCLE 1.00, IRS-TX 1.00, MCLE LS-TX 1.00
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When a U.S. beneficiary receives a distribution from a foreign trust, the way the distribution is taxed depends on whether the trustee gives the beneficiary the right paperwork. This presentation looks at the all-too-common scenario where a trustee does not provide the necessary paperwork to prevent bad tax results. Learn how to calculate the accumulation distribution under the default rules, how to compute the tax to the beneficiary, and how to prepare the tax forms to report the distribution.

Objectives:

  • Identify when the default rules for taxation of nongrantor trust distributions apply.
  • Identify the paperwork filing requirements for nongrantor trust distributions.
  • Understand the calculations required under the default rules.
  • Learn the basics of Form 3520 and Form 4970 preparation for nongrantor trust distributions.

Major Subjects:

  • Foreign nongrantor trusts
  • Distributions to US beneficiaries
  • Accumulation distributions
  • Form 3520
  • Form 4970

Advanced Prep:

None.

Misc. Information:

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Level of Difficulty:
Overview
Field of Interest:
Taxes
Prerequisites:

None.

Designed For:

Lawyers and CPAs.

Instructors

Debra Rudd, CPA

Debra Rudd is a CPA at HodgenLaw PC, a boutique international tax law firm in Pasadena. She has a bachelor’s degree in philosophy from Columbia University and is pursuing a master’s degree in taxation at Golden Gate University.

In addition to managing the firm’s day-to-day operations, she prepares complex tax returns for high net worth individuals and various entities. Focus areas include passive foreign investment companies, controlled foreign corporations, foreign trusts, and foreign investment in U.S. real estate. Russ frequently writes and speaks on various crossborder tax topics for HodgenLaw and CalCPA.

No Agenda or Materials posted.