Tax Reform: Impact on Corporate Tax Planning and Reporting

Tax reform, signed into law in December 2017, is the first major overhaul of the Internal Revenue Code since 1986. It substantially impacts corporations across all industries. The new tax law encompasses changes affecting corporate tax compliance and reporting and fundamental aspects of international taxation.

Counsel must quickly develop an in-depth understanding of how tax reform affects corporations to advise clientele of opportunities and pitfalls associated with business operations. Counsel and tax professionals must understand complex provisions such as the business interest deduction limitations, implications of the reduced corporate tax rate, the benefits-received deduction, and changes affecting multinational entities.

Listen as our panel discusses complex changes to corporate tax rules and provides guidance on unforeseen implications impacting corporations.

1. Highlights of tax reform changes to corporate tax rules
2. The hybrid territorial system of taxation and factors to consider for multinational entities
3. Unforeseen tax implications of the reduced corporate tax rate and repeal of AMT to some corporations
4. Interest deduction limitations, benefits received deduction, and other tax reform items requiring careful consideration
5. Lingering questions affecting corporate tax compliance and reporting for 2018 and beyond

The panel will review these and other key issues:

• Identifying the impact of tax reform on corporate tax rules and regulations
• Understanding the shift from worldwide taxation to a hybrid territorial system of taxation and its impact on corporations
• Ascertaining the available methods for reducing corporate tax liability and limitations stemming from the new tax law
• Determining effective methods of corporate tax compliance and reporting

Learning Objectives

After completing this course, you will be able to:

• Identify critical aspects of new tax law and its impact on corporate taxation
• Determine effective methods of corporate tax compliance and reporting
• Ascertain the tax implications of the reduced corporate tax rate and repeal of AMT to some corporations
• Recognize the advantages and disadvantages of the changes to corporate tax rules as applied to multinational entities

• 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 at mid-level within the organization, preparing complex tax forms and schedules; supervisory authority over other preparers/accountants. Specific knowledge and understanding of Corporate Tax Rules and Regulations, and International Taxation.

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).