Developed specifically to prepare students for the US option in the paper III examination under the CIOT’s international tax diploma, this course combines an intensive three-day course with a two-day refresher course prior to the exam. No prior knowledge of the US tax system is assumed though a familiarity with taxation terms is expected. Your tutor is an adjunct professor at the University of Georgetown, Jim Hemelt.

How you will benefit:

* Gain an overview of the US tax system in sufficient detail to assist preparation for Paper III of the ADIT exam
* Receive an enhanced illustration of US tax topics through discussion, practical review and simulation using prior ADIT exams and other comprehensive problem material

Day 1

* US taxation - high level overview
* Income and tax rates - further detail
* Determination of 'US Taxpayers'
* Entity classification
* Income tax treaties and the related US issues
* Prac tical application of the above concepts

Day 2

* Corporate issues and transactions
* Inbound investment into the US

Day 3

* Outbound investment issues (e.g. Subpart F, PFIC, etc.)
* Foreign tax credit
* Other related US tax topics (e.g. non-income taxes
* Sample examination questions

Jim Hemelt (JD, BS, CPA) is an adjunct professor in the Georgetown University School of Business and consults frequently on international tax matters, particularly in the area of transfer pricing documentation issues. He has spent his entire career working in the international tax area, both transactional issues as well as tax compliance and financial statement reporting issues. Most recently, he was Senior Director of Taxes for PSINet Inc. where he had responsibility for the income tax disclosure and FAS 109 implementation.