Webinar: Back to the Future – Significant Changes Expected to the 2020 Form 5471 (Again)

In 2020, the IRS proposed new changes to the Information Return of U.S. Personas with Respect to Certain Foreign Corporations – known as Form 5471 – which will impact reporting requirements for prior tax years for US taxpayers with ownership in foreign corporations.

In this live, one-hour webinar, GTM’s Brian Abbey and Raymond Wynman will examine the changes to the form expected for tax year 2020. This will include a detailed overview of new schedules Q and R, which require taxpayers to provide significant amounts of information not previously needed, such as:

• Income, deductions and assets by Subpart F income groups
• Distributions including Section 986(c) gain/loss