The determination of residency is an important factor in determining the manner in which an individual is subject to U.S. federal income tax. Understanding the rules for determining residency is critical to determine who is subject to U.S. federal taxation and the types of income subject to U.S. taxation.

This seminar will provide a general understanding of U.S. taxation of resident and non-resident aliens of the U.S. Emphasis will be placed on the determination of residency for U.S. tax purposes and the corresponding U.S. taxation implications. There is also a general overview of, Estate Taxation, U.S. Foreign Reporting, FIRPTA, the U.S.-Canada Income Tax Treaty and other emerging matters in US Personal taxation.  The streamlined filing procedures for US Voluntary Disclosures will also be covered in this seminar.

Applicable for:
The seminar is designed for accounting professionals and practitioners who want to gain a basic understanding of U.S. taxation for individuals and an update of recent changes to assist with the preparation of basic U.S. tax returns.

Learning Objectives
By the end of this course, participants should be able to:

• Describe the various residency classifications for US federal tax purposes.
• Apply the residency status tests used for US federal tax purposes.
• Describe taxation of US citizens and resident and non-resident aliens.
• Determine which type of US personal income tax return to prepare.
• Determine when a US estate income tax return and/or gift tax return may be required.
• Describe the impact of US tax treaties.

Content
The topics in this seminar include:

• Tax classification and residency status tests
• Taxation of US citizens, resident aliens, and non-resident aliens 
• U.S. estate taxation
• Gift tax and foreign disclosures
• U.S. foreign income reporting
• The U.S.- Canada Income Tax Treaty 
• Foreign Investment in Real Property Tax Act (FIRPTA)
• Recovery of U.S. tax withheld on gambling winnings by non-resident aliens 
• U.S. Voluntary Disclosure Program – Streamlined Filing Procedures

Seminar Leader: Christa Walkden 

Presented by PD Partner: CPA Pro

What to Expect

• This is a Live Virtual Seminar where class size has been limited to allow for an interactive learning environment. 
• This seminar will not be recorded.
• Course materials, links and credentials will be emailed to you two business days before the seminar. Once sent, the email will also be found in your Account Communication tab of the CPA Manitoba Member Portal. 
• Live webinars have varying levels of expected interaction, and some may require webcam and microphone capabilities – if you have concerns about the interaction required for this course, please email [email protected] 

CPA Manitoba PD Terms and Conditions