Section 965:  Income Inclusion and Deduction for 10% Shareholders
Channel: International Tax
Date: 2018-01-14

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