Webinar: Updates & Key Considerations: IRC Section 162(m) and Section 250

Webinar: Updates & Key Considerations: IRC Section 162(m) and Section 250

Joseph Ciccarelli
Managing Director
Brian Abbey
Managing Director, International Tax
Michael DiBianca
Managing Director
Webinar Date:

Final Regulation Updates & Impacts

A number of key tax updates were passed last year that may substantially increase the complexity to account for taxes under ASC 740 including the IRS Final Regulations under section 162(m) as amended by the Tax Cuts and Jobs Act (TCJA), and updates to section 250.  The final regulations under 162(m) significantly expanded the reach of the $1,000,000 cap on the deductibility of compensation paid to certain executives (“covered employees”).

The final regulations on the section 250 deduction for global intangible low-taxed income (GILTI) and foreign-derived intangible income (FDII) significantly affect individuals and certain trusts that hold direct and indirect interests in controlled foreign corporations (CFCs) and make elections under section 962.

Our webinar

What attendees learn

In this live, one-hour webinar, GTM’s Joe CiccarelliMike DiBianca, and Brian Abbey will discuss key changes to section 162(m) and section 250 as they relate to tax accounting for 2021, including:

Section 162(m) Updates

  • Key considerations of the tax accounting impacts of 162(m):
    • Overview of law change including the American Rescue Plan Act
    • Ordering rule-Accounting policy election
    • Scheduling and managing of deferred tax assets

Modeling Around Section 250 Updates

  • Key considerations in enhancing tax calculations:
    • Global Intangible Low-Taxed Income (GILTI)
    • Foreign-Derived Intangible Income (FDII)
    • Section 962 elections



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