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  • videocam On-Demand
  • signal_cellular_alt Intermediate
  • card_travel Tax Preparer
  • schedule 110 minutes

Preparing Forms 8992 and 8993 for GILTI and FDII: Recent Updates, Tested Income, QBAI, and Related Schedules

$197.00

This course is $0 with these passes:

CPE
ALL
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Description

A U.S. shareholder with an ownership interest in a CFC must calculate and report GILTI using Form 8992, U.S. Shareholder Calculation of GILTI. GILTI is calculated based on tested income and qualified business assets investment (QBAI). Corporations, or individuals making a Section 962 election, must file Form 8993, Section 250 Deduction for FDII, to calculate the FDII and GILTI deductions available.

Like other foreign information returns, failure to file Form 8992 or provide complete information can result in a $10,000 penalty. Once contacted by the IRS, the penalty can run as high as $50,000 a month until resolved, Treasury Reg. Section 1.6038-5.

These forms continue to be updated. Form 8993 was recently revised for proposed and final Section 250 regulations, and Form 8992 has a new Schedule B to accommodate consolidated group filings. International tax practitioners need to understand how to calculate and report tested income, QBAI, and the Section 250 deductions for U.S. shareholders in CFCs.

Listen as our knowledgeable panel reviews the components of GILTI and FDII and walks you through preparing Forms 8992 and 8993 to properly report these complex calculations.

Presented By

Josh Gelernter
Director
Aprio, LLP

Mr. Gelernter's specialties are international tax services, primarily reorganizations and restructurings.

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Laura M. Tshilumba
International Tax Expert and CPE Instructor
Parent: Your Expat Tax CPA

Ms. Tshilumba, CPA, is an international tax expert and CPE instructor with over 20 years of experience in public accounting and industry. Her multifaceted experience spans across various industries, giving her a profound understanding of the unique tax challenges faced by businesses and individuals. Whether working with multinational corporations, expatriates, solo entrepreneurs, or high-net-worth individuals, Ms. Tshilumba possesses the versatility and insight needed to navigate the intricate web of U.S. international tax regulations. Her expertise includes global mobility, expatriation tax, tax equalization, tax clauses in global assignment contracts, UN employee taxation, mergers & acquisitions, cross-border compliance, FIRPTA, delinquent foreign disclosures, and IRS controversy resolution. Ms. Tshilumba is also a Certifying Acceptance Agent (CAA) and works closely with immigration attorneys and real estate professionals to navigate U.S. tax compliance for foreign nationals.

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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).

Date + Time

  • event

    Thursday, July 17, 2025

  • schedule

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

  1. GILTI and FDII: introduction
  2. Form 8992
    1. Filing requirements
    2. Recent changes
    3. Preparing the form
  3. Form 8993
    1. Filing requirements
    2. Recent changes
    3. Preparing the form


The panel will review these and other critical issues:

  • What is the purpose of the new Schedule B added to Form 8992?
  • How is Schedule A prepared to report GILTI on Form 8992?
  • When should an amended return and Form 8993 be filed for taxpayers making a Section 962 election?
  • What are the most recent changes to Forms 8992 and 8993?

After completing this course, you will be able to:

  • Understand global intangible low-taxed income (GILTI)
  • Calculate the amount of foreign-derived intangible income (FDII) to be reported
  • Verify that Forms 8992 and 8993 are correctly completed
  • Decide whether an IRC 962 election is beneficial or could result in a tax increase
  • Ascertain GILTI on controlled foreign corporations
  • Recognize deductions provided under IRC 250 for FDII
  • 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.


BARBRI 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

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 Strafford-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 .