ACC 568
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Taxation of Foreign Income
Accountancy
Marriott School of Business
Course Description
Federal taxation of foreign transactions.
When Taught
Winter
Min
3
Fixed
3
Fixed
3
Fixed
0
Other Prerequisites
Acc 561 or concurrent enrollment.
Title
Learning Outcomes
Learning Outcome
Understand and discuss: 1. The U.S. tax policy implications dealing with both outbound and inbound transactions. 2. The impact U.S. tax law has on international business. 3. The relationship and application of Income Tax Treaties 4. Issues dealing with intercompany pricing between controlled entities.
Title
Learning Outcomes
Learning Outcome
Apply skills involving the U.S. taxation of multinational commerce, including: 1. Identify icome source and allocation and apportionment of deductions. 2. Calculate a taxpayer's direct and deemed paid foreign tax credit. 3. Identify taxpayers who are eligible for the foreign earned income exclusion and calculate the amount of the exclusion. 4. Identify a controlled foreign corporation (CFC) and compute the CFC's subpart F income and the deemed distribution that flows through to the U.S. shareholders. 5. Understand and apply the rules dealing with foreign taxpayers earning income and doing business in the U.S.
