BarbriSFCourseDetails
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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Tax Preparer

Date & Time
  • event Date

    Thursday, February 8, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    110 minutes

Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$197.00
CPE
ALL

This webinar will address dual taxation issues in the U.S. and Spain for residents of both or either country and their tax advisers. Our panel of U.S.-Spain taxation experts will explain how to analyze the U.S.–Spain Income Tax Treaty for benefits available to expatriates and dual residents; the Spanish tax regime for income tax, capital gains tax, and wealth tax; and additional reporting obligations for taxpayers spending time in both countries.

Faculty

Austin C. Carlson
Partner, CPA
Gray Reed & Mcgraw LLP

Mr. Carlson brings unique skills and perspectives to every area of his practice, which includes complex tax planning for domestic and international transactions, real estate fund and joint venture tax and corporate representation, and tax counsel on mergers and acquisitions. He helps companies (domestic and international) and individuals structure corporations, LLCs, partnerships and nonprofit entities, achieve their transactional tax and corporate planning goals, and successfully resolve tax controversies with the IRS and state taxing authorities. Mr. Carlson also has substantial experience with all types of foreign account and income disclosure issues including the Streamlined Filing Compliance Procedures and Delinquent International Information Return Submission Procedures.

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Mishkin Santa
Principal, Director of International Tax
The Wolf Group, PC

Mr. Santa focuses his practice on repatriation tax, as well as individual income tax compliance, estate, gift & trust tax compliance, FBAR Assistance, foreign trust tax compliance, exit tax planning, EB-5 investor program, international assignment structuring and planning, offshore voluntary disclosure programs, foreign corporation (Subpart F, Transfer Pricing, E&P Studies), and asset protection planning. His client base includes U.S. citizens living overseas, U.S. nonresidents, EB-5 investors, U.S. domestic individuals and families, international businesses, international based families with investments in multiple jurisdictions and tax residency in multiple jurisdictions, U.S. citizens or residents who are beneficiaries of foreign trusts and who will receive gifts or inheritances from non-US persons,  and trustees of trusts with U.S. grantors or U.S. beneficiaries.


 

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Carlos Gimeno Masià
Attorney, International Tax Manager, Private Client Services
BDO Spain

Mr. Masià is an Attorney, International Tax Manager, Private Client Services for BDO Spain.

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Description

Many of the cross-border considerations for taxpayers who are residents of Spain are the same as those for residents of other countries. U.S. residency rules, additional information return reporting requirements, and double taxation relief is somewhat similar for taxpayers residing in the U.S. or Spain. However, there are unique aspects of dual taxation of these two countries that potential residents of either country must understand.

Perhaps most concerning is that although the U.S.-Spain Income Tax Treaty provides relief from double taxation of certain income, the saving clause negates relief for some income that would otherwise be available. While social security is taxed according to the treaty and residency status, pensions, for example, could be subjected to tax in both countries.

Spain does provide tax relief for foreigners residing in Spain. The Beckham Law allows qualifying expatriates to pay tax on income at a flat rate of 24 percent rather than using the graduated tax table. Spain also permits certain new residents to pay wealth taxes as nonresidents during their first six years of residency. International tax practitioners and residents of Spain and the U.S. need to grasp the nuances of taxation in both countries to ensure dual-country taxpayers pay the least amount of overall tax.

Listen as our panel of seasoned international attorneys and CPAs explains cross-border taxation in Spain and the U.S. and properly applying U.S.-Spain Income Tax Treaty benefits.

Outline

  1. U.S.– Spain dual taxation issues: an introduction
  2. Residency rules
    1. U.S.
    2. Spain
  3. Spain's taxation framework
  4. The Spanish Beckham Law
  5. Cross-border taxation
    1. Pensions and retirement plans
    2. Wages
    3. Real property
  6. U.S.-Spain Income Tax Treaty
  7. Spanish Inheritance and Gift Tax
  8. Other U.S. reporting requirements
  9. Other compliance issues

Benefits

The panel will review these and other critical issues:

  • How the saving clause in the U.S.-Spain Income Tax Treaty affects treaty benefits
  • Which taxpayers are eligible for the Spanish Beckham Law?
  • How pensions and retirement plans are taxed to expatriates in the U.S. and Spain
  • Spain's income tax rules for taxing income, capital gains, and wealth
  • U.S. international information reporting requirements for foreign financial assets in Spain

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Identify taxpayers who might benefit from Beckham's Law in Spain
  • Determine U.S. individual income tax compliance issues for U.S. taxpayers in Spain
  • Decide how residency is determined in Spain
  • Ascertain how the saving clause in the U.S.-Spain Income Tax Treaty can negate treaty benefits

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of international taxation including residency determination, foreign entity classifications, application of treaty benefits, as well as GILTI, Subpart F, and the related Section 250 deductions.

Strafford Publications, Inc. 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 Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).