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Lessons Learned: Select Tax Accounting Considerations in a Post-TCJA World

September 25, 2019

A Live Webcast Hosted by the Manufacturers Alliance for Productivity and Innovation (MAPI)

As the Tax Cuts and Jobs Act of 2017 (TCJA) approaches its second birthday, manufacturers are getting a clearer view about what it means to operate in a post-TCJA environment. Treasury has issued final and proposed regulations on almost all significant aspects of the U.S. international tax regime. This presents both challenges and opportunities for the manufacturing sector.

During this live webinar hosted by MAPI, GTM’s tax specialists, Jim Swanick and Raymond Wynman will cover practical approaches to addressing the following:

  • §163(j) Interest Limitation, including:
    • Overview of the New Rules and Computational Fundamentals
    • Status of Regulations
    • Valuation Allowances under ASC 740 on Disallowed Interest Carryforwards
  • Changes to Expense Allocation and Apportionment Under the New Foreign Tax Credit (FTC) Regime, including:
    • Overview of the New Rules and Computational Fundamentals
    • Modified Rules for the Treatment of Income and Asset Exemptions
    • Status of Regulations
    • Valuation Allowances on FTC Carryforwards
  • Impacts on the Indefinite Reinvestment Assertion under ASC 740-30 (formerly APB 23), including:
    • Changes in the Assertion Resulting from the TCJA
    • Considerations when Earnings are Not Permanently Reinvested
    • Updated Computational Fundamentals

MAPI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

This webinar is designed for corporate-level tax and finance professionals and will focus on key issues and regulations relating to the Tax Cuts and Jobs Act of 2017. The program knowledge level is advanced. No advanced preparation is required and there are no additional prerequisites. Participants will:

  • Learn about changes related to foreign tax credits
  • Changes to the foreign reinvestment of earnings
  • Hear practical approaches to addressing the section 163(j) interest limitation

Participants will earn approximately: 1 CPE credit
Fields of Study: Tax
Delivery method: Group internet based

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