ASC 740 Considerations involving Foreign Operations
Benefits: The foreign income tax provision comprises a current provision and a deferred provision. The complexities of international tax and the multitude of jurisdictions in which your company operates, calculating your foreign tax provision can be a difficult and time-consuming exercise. This webinar touches on key financial statement disclosures regarding your company's foreign tax provision and addresses items for consideration regarding your company's permanent reinvestment assertion.(ASC 740-30-25, formerly APB 23)
- Foreign income tax expense
- Deferred taxes on foreign income
- Foreign tax attributes (net operating losses, tax holidays) and their expiration
- Reporting for branches, partnerships and disregarded entities
- Years open to examination for all major tax jurisdictions
- Foreign currency translation adjustments
- Impact of significant recently enacted or anticipated tax legislation
Chuck Chubb, Managing Director, WTAS LLC, Philadelphia
Jennifer Wiskus, Director, WTAS LLC, Chicago
Chuck Chubb is the Managing Director at WTAS in Philadelphia. Chuck Chubb has over 30 years of experience in advising a broad range of clients on federal, international and state and local tax matters. Before joining WTAS, he was a Tax Partner in two international professional services firms. Chuck is WTAS’ firm wide practice leader on Accounting for Income Taxes (FASB ASC 740) services, including US, non US, State & Local income taxes, and uncertain tax positions. He has extensive experience in preparation or review of tax-accrual work papers supporting computations of income tax provisions in company financial statements; Tax accounting for special situations, including mergers and acquisitions and foreign operations; Determination of level of sustainability of uncertain tax positions (FIN 48); Drafting or reviewing footnote disclosures of tax matters in company financial statements; Evaluation and documentation of valuation allowances; Income tax accounting in fresh-start accounting cases. Chuck’s clients span numerous industries, including retail, manufacturing, communications and financial services. Chuck has spoken locally and nationally in numerous venues regarding ASC 740 matters. Chuck attended Bloomsburg University, where he received his BSBA in Business Administration – Accounting.
Who Should Attend
This live webinar is designed for corporate tax executives, accountants, CPAs, controllers, CFOs, tax managers, presidents, vice presidents, corporate counsel and attorneys.
Networking Seminars is registered with the National Association of State Boards of Accountancy (NASBA) sponsor of Continuing Professional Education. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding QAS program sponsors may be submitted to NASBA through its website: www.learningmarket.org. CPE Credit: Maximum Credit Hours: 1.0 each session (based on a 50 minute credit hour). Field of Study: Taxes. Prerequisite: basic knowledge of international transactions. Level of Knowledge: Introduction. Teaching Method: Online Webinar/Lecture. Advance Preparation: None. Delivery Method: Internet Based Group-Live. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.