Tax Reform was all over the news in 2018. While many individuals will be able to file their 2018 tax return “on a post card”, businesses and their individual owners will find the 2018 filing requirements to quite challenging.
Accordingly, KPMG will cover the additional reporting requirements emanating out of Tax Reform. The speaker will convey the magnitude of the reporting requirements and what information that needs to be organized now. The discussion will include the following topics:
Reporting for partnerships and other pass-thru entities
- Interest deduction limitations under Sec 163(j)
- The 20 percent deduction provided by Sec 199A
- Reporting for Carried Interests required by Sec 1061
- Reporting for Tax Exempt parties under Sec 512(a)(6)
Reporting for corporations:
- Reporting requirements related to the Global Intangible Low Tax Income (“GILTI”) under Sec 951(a)
- Reporting of Foreign Derived Intangible Income (“FDII”) under Sec 250(a)
- Reporting for the Base Erosion Anti-abuse Tax (“BEAT”) under Sec 951A
By covering the above, the participants will be reminded of the importance of planning for successful compliance with the Tax Reform and Jobs Act myriad of new reporting requirements.
Speakers: Adam Uttley, Partner, Tax, KPMG LLP;
Venessa Jiang, Senior Manager, Business Tax Services, KPMG LLP.