What qualifications do I need to enroll in this course?

There are no specific prerequisites. However, a background in accounting, law, or business can be beneficial.

What topics are covered in the course?

The course covers US corporate and personal income tax, emerging tax themes, tax compliance, business transaction taxation, international income taxation, tax law violations, and state income taxes.

Who is the target audience for this course?

The course is ideal for aspiring tax professionals, accountants, legal assistants, business consultants, entrepreneurs, and business owners.

What skills will I gain from this course?

You will gain mastery of US tax codes, ability to handle tax implications for various entities, skills to navigate international tax treaties, competence in managing tax compliance, and understanding of tax law violations.

What is US tax compliance?

US tax compliance involves adhering to the Internal Revenue Code (IRC) and other federal, state, and local tax regulations. It includes accurate reporting of income, expenses, and other tax-related information, and timely filing of tax returns.

What are the main types of taxes in the US?

The main types include federal income tax, state income tax, payroll tax, sales tax, capital gains tax, and corporate tax.

Who is required to comply with US tax laws?

US citizens, resident aliens, and certain non-resident aliens with US-source income or conducting business in the US must comply with US tax laws.

How does the US tax foreign income?

US citizens and residents are taxed on their worldwide income, while foreign income may also be subject to foreign tax credits or exclusions under certain conditions.

Certification in US Tax Compliance and Paralegal Work

Module 1: Overview of Corporate and Personal Income Tax in the US
- Understanding the US Internal Revenue Code: Learn how to navigate and interpret the Internal Revenue Code.
- Tax Rates and Categories:
  - Individuals/Proprietorships
  - Partnerships
  - LLPs
  - Companies (C-Corp & S-Corp)
  - Private Trusts
- Federal Taxes on Common Income Categories:
  - Business Income
  - Capital Gains
  - Salaries
  - Profits
  - Dividend Income and Distribution
  - Non-cash Based Income (ESOPs and Sweat Equity)
  - License Fees Earned by Directors
- Capital Gains:
  - Sale of Businesses
  - Sale of Assets for Residents and Non-residents
Module 2: Emerging Themes under US Tax Laws
- Tax Implications for Foreign Incorporations:
  - Income Treatment for US Companies and Shareholders/Parent Companies
- Digital Platforms and Businesses Taxation
- Taxation of Gig Workers
- Virtual Currencies:
  - IRS Notice 2014-21
  - FAQs and Compliance
Module 3: How to Perform Tax Compliance Work for US Residents and US Businesses
- Determining US Tax Law Applicability
- Tax Registration:
  - EIN
  - ITIN
  - State VAT
- Key Tax Compliances for Employers/Companies:
  - Form 1040, Form 1040-ES, Form 1040 SR
  - Form W-7
  - Form W-4
  - Form W-9
  - Form SS-4
  - Form 941
  - Form W-2
  - Form 9465
  - Form 4506-T
  - Form 1099-NEC
  - Form 1099-MISC
  - Form 1099-K
Module 4: Taxation of Important Business Transactions in the US
- Tax on Distributors, Partners, and Resellers of Non-US SaaS Companies
- Tax on Drop-Shipping Transactions
- Tax on ESOPs and Sweat Equity:
  - Types of Share-Based Incentives
  - Tax Payable Timing
- Share-Based Transactions Tax Implications:
  - US Employees in a US Company
  - Foreigners in the US with Foreign Company ESOPs
  - Foreign Employees with US Company ESOPs
- Corporate and M&A Transactions:
  - Mergers
  - Investments and Acquisitions
  - Exits
- Corporate and Bank Financing Taxation
- Conversion Taxation
Module 5: Taxation of International Income by the US: Key Scenarios
- US Double Tax Avoidance Treaty Network:
  - US-Canada and US-India DTAA
  - Permanent Establishment
  - Capital Gains
  - Royalty
  - Fee for Technical Services
  - Tax Information Exchange Provisions
  - Tax Credit/Refund Provisions
- Withholding Tax on International Payments
- Taxation of Foreign Income:
  - US Citizens Living in the US
  - US Citizens Living Abroad
  - Foreigners with US Subsidiaries or Parent Companies
  - Offshore Subsidiaries of US Companies
  - Controlled Foreign Corporations (CFCs)
- Resolving Conflicts between IRC and DTAAs
Module 6: Implications of Violation of Tax Laws in the US
- Consequences of Tax Law Violations:
  - Interest
  - Penalties
  - Confiscation of Income
  - Imprisonment
- IRS Investigative Powers:
  - Raids, Search and Seizure
  - Attachment and Freezing of Bank Accounts
- Stages in a Tax Proceeding:
  - Types of Notices
  - Tax Authorities
  - Violation Consequences
  - Appeal Forums
- Settling US Tax Proceedings:
  - Offer in Compromise
  - Form 656
  - Request for Appeal of Offer in Compromise
  - Form 13711
- Lookback Provisions and Record-Keeping Requirements
Module 7: Overview of State Income Taxes in the US
- Personal and Corporate Income Tax Rates:
  - Delaware
  - Nevada
  - Texas
  - Florida
  - New York
  - California
  - Wyoming
- State Capital Gains Taxes
- State Sales Taxes:
  - Applicability and Payment
- Important Compliance Requirements and Forms
- Franchise Taxes Overview
Complementary Module 1: Soft Skills Development
- Business communication
- Preparation for the Interview
- Presentation Skills
Complimentary Module 2: Resume Writing

Resume Writing

Know the complete offerings of our Certification in US Tax Compliance and Paralegal Work