Hi I'm Anthony parent of IRS medic parent & parent LLP and today I have Robert Hanssen our lead international attorney joining us to go over some of the subpart F changes that occurred in our lovely tax reform right and remember this this was a went in June when I think they rolled out the postcard the the tax reform on the postcard and right that was one of the I was laughing at the point I said there's just no way I can believe in lower rates right but what I can't believe is a simpler tax code cuz that's just sort of impossible and as we saw it play out it didn't get more simple and let's just go what is subpart F let's just give a little refresher for those of us who might not sure so subpart F is the part of the tax code that creates a kind of deemed income for people who majority owned or have majority u.s. person owned foreign companies foreign corporations in specific and so you might not be receiving a dividend from your foreign company but depending on what type of activity that the company is in you might be said to have received income so you might get an extra bit of income and extra tax that you're not really expecting okay so what so Part F is doing it's saying that hey I didn't take any I didn't get any money from this business but the business made money and they're like well you should have taken it I guess right I think it's I think it's envisioned to be some type of anti-abuse rule because the kind of activities that that we're creating subpart F for are the kind of activities where people might do...
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5471 Schedule i-1 Form: What You Should Know
SCHEDULE I-1. (Form 5471). (Rev. December 2021). Department of the Treasury. Internal Revenue Service. Information for Global Intangible Low-Taxed Income. About Form 5471, Information Return of U.S. Persons — IRS Certain U.S. persons with interests in certain foreign corporations file Form 5471 and schedules to satisfy the 2021 Schedule I-1 for IRS Form 5471 — SF Tax Counsel Mar 30, 2023 — Schedule I-1 asks the CFC shareholder to enter a category of income. Schedule I-1 is completed once(for general income, passive income, or both) Demystifying the IRS Form 5471 Part 5. Schedule I-1 Nov 15, 2023 — Each year certain U.S. persons with interests in foreign corporations must file Form 5471 otherwise known as “Information Return of U.S. Schedule I-1: Global Intangible Low-Taxed Income — Form 5471 Schedule I-1 contains information about Global Intangible Low-Taxed Income (GILT) for the CFC Demystifying the IRS Form 5471 Part 5. Schedule I-1 Nov 15, 2023 — Each year certain U.S. persons with interests in certain foreign corporations must file Form 5471 otherwise known as “Information Return of U.S. Schedule I-1: Global Intangible Low-Taxed Income — Form 5471 Schedule I-1 contains information about Global Intangible Low-Taxed Income (GILT) for the CFC Demystifying the IRS Form 5471 Part 5. Schedule I-1 Nov 15, 2023 — Each year certain U.S. persons with interests in certain foreign corporations must file Form 5471 otherwise known as “Information Return of U.S. Schedule I-1: Global Intangible Low-Taxed Income — Form 5471 Schedule I-1 contains information about Global Intangible Low-Taxed Income (GILT) for the CFC Demystifying the IRS Form 5471 Part 5. Schedule I-1 Nov 15, 2023 — Each year certain U.S.
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