About the Course
Introduction
This webinar will look at opportunities to maximize the foreign tax credit (or deduction) for individual taxpayers. Our panel of global tax specialists will walk international tax advisers through common foreign tax credit scenarios and explain the steps to take to maximize this lucrative credit.
Description
Utilizing foreign tax credits is critical to avoid double taxation of Individual taxpayers working, investing, or living across international borders. In addition to common errors, which could include applying the credit to ineligible taxes, improper completion of Form 1116, Foreign Tax Credit, or miscalculations, are overlooked opportunities to increase the benefit of the foreign tax credit.
Too often, tax preparers routinely take advantage of the foreign earned income exclusion under IRC Section 911 and fail to consider the higher tax rates imposed by other countries. Additionally, many circumstances warrant taking a deduction for foreign taxes. Here too, practitioners sometimes fail to realize foreign income taxes are not subject to the $40,000 tax deduction cap. International tax practitioners must understand key considerations when applying for these credits.
Listen as our panel of international tax experts explores the errors and oversights to avoid when calculating foreign tax credits for international taxpayers.
Presented By
Ms. Subramanian has expertise in FIRPTA compliance issues related to holding of U.S. real property interest, expatriation and inpatriation planning, foreign information reporting requirements for individuals and entities, including FBAR, and Forms 8938, 5471, 8865, 926, 3520, 3520-A, 8858.
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BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.
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BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
Date + Time
- event
Thursday, October 22, 2026
- schedule
1:00 PM ET/10:00 AM PT
I. Foreign tax credits: introduction
II. Qualified foreign taxes
III. Deduction vs. credit
IV. Paid vs. accrued
V. Utilizing carrybacks
VI. Interaction with Section 911, foreign earned income exclusion
VII. Other considerations
The panel will cover these and other critical issues:
- Common errors made when completing Form 1116
- Comparing the benefits of the foreign earned income exclusion and the foreign tax credit
- Circumstances where the foreign deduction is more valuable than the foreign tax credit
- Choosing the paid or the accrual method for foreign taxes
- Taking advantage of creditable foreign tax carryovers
Learning Objectives
After completing this course, you will be able to:
- Identify taxes eligible for the foreign tax credit
- Determine how the Section 911 foreign earned income exclusion interacts with the foreign tax credit
- Ascertain when electing accrued rather than paid foreign taxes could benefit a taxpayer
- Decide when a foreign tax deduction may be more valuable than a foreign tax credit
- 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/NCTI, Subpart F, and the related Section 250 deductions.
BARBRI, 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.
BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .
