U.S. Taxpayers Living, Working or Investing Overseas

Tuesday, September 12, 2017
You have until 12/31/17 to use this course as credit.
2:00 PM – 3:50 PM ET
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Continuing Education

CPE Program Knowledge Level: Overview
2 CPE Credit; NO prerequisites or advance preparation
CTEC Course #: 3022-CE-0118
IRS/RPO Approved Program
#7ZBUJ-T-00059-17-O (Online/Group) Live (Group-Internet Based)
#7ZBUJ-T-00059-17-S (QAS Self Study) Archive
Federal Tax Law (2 Hours)

Program Content

This online learning program, presented as a live webcast, will be also archived for QAS Self Study. The program will be available for viewing for 12 months after the live webcast. A panel of IRS and industry experts will present the content during a live, interactive discussion, where participant questions can be submitted. Questions will be answered live on the program or posted on the Resources page. Former Director of Internal Communications for the IRS, Les Witmer, moderates the program.

The program, through a lively round-table discussion and real time interaction with the audience, looks at how U.S. taxpayers living, working, or investing outside the United States are taxed under the U.S. tax code. The program will examine the worldwide reach of the Internal Revenue Code and the exclusions and credits available for those living overseas. Panelists also will discuss the taxation of U.S. shareholders of foreign corporations, including the controlled foreign corporation rules, and the reporting requirements imposed on those who hold assets outside the United States.

Program Learning Objectives

1) Identify those who are subject to U.S. taxation of income earned or received from outside the United States.
2) Identify what foreign taxes are creditable against U.S. taxes and how the foreign tax credit is computed.
3) Identify how U.S. shareholders are taxed on their interests in foreign corporations, including shareholders of controlled foreign corporations.
4) Identify the reporting requirements imposed on taxpayers who hold investment assets outside the United States or in offshore institutions and accounts.

Program Outline


Les Witmer, APR
Communications Consultant

Les Witmer has served as the moderator for Tax Talk Today since 2001. He is a Communications Consultant in Atlanta. He retired after a distinguished career of 34 years with the Federal Government serving the last 23 years with the Internal Revenue Service. He held various positions with the IRS in Communications and Taxpayer Information and retired during the stand-up of the Wage and Investment Division as the Director of Communications. He also was periodically assigned by the U.S. Treasury Department to the Office of Economic Cooperation and Development (OECD) to be a member of an international team that advised and conducted seminars on Taxpayer Information and Customer Service programs to tax and ministry of finance officials from Russia and other Eastern European Countries. Preceding IRS, he served on active duty with the U.S. Army including as an infantry officer in Vietnam. He had other active duty and reserve assignments culminating with being activated during Desert Storm. He retired as a Lieutenant Colonel. He holds a B.S. in Journalism from the University of Southern Mississippi and an M.S. in Public Administration from the American University.

IRS Panelists


Tracy L. McFee, CPA
Senior Revenue Agent, IRS LB&I Withholding & International Individual Compliance

Tracy McFee is a Senior Revenue Agent with Withholding & International Individual Compliance in the Large Business and International Division.   As a Senior Revenue Agent, Tracy serves as a technical expert on US taxation of citizens and resident aliens who live or work abroad.

Tracy joined the Internal Revenue Service in 1990.  Over the course of her career, Tracy has held a variety of positions with the IRS, including Internal Revenue Agent, International Tax Compliance Officer Group Manager, Senior Tax Specialist, Tax Compliance Officer and Tax Examiner.  Tracy Is Certified Public Accountant and holds a degree in Economics from the University of Chicago.

Content Consultant

David F. Windish, J.D., LL.M
Content Consultant

David F. Windish, J.D., LL.M. in taxation, is a tax attorney and consultant. He has served as an instructor of tax-advantaged investments at the New York Institute of Finance; an Instructor of business law at the U.S. Merchant Marine Academy, Kings Point, N.Y.; and an adjunct professor at George Mason University, Fairfax, Va. He has also served as executive editor for Tax Analysts; managing editor for Business Strategies, published by CCH; and senior editor for the
Institute for Business Planning.

Mr. Windish is the author of Practical Guide to Real Estate Taxation, published by CCH and currently going into its sixth edition. Earlier works include Tax Advantaged Investments and Investor's Guide to Limited Partnerships, both published by the New York Institute of Finance. Through the Center for Video Education, he authored continuing education courses dealing with real estate and closely held corporations. Those courses included readings, case studies, and videotape segments.

Mr. Windish is a graduate of Rutgers University Law School and the New York University School of Law, Graduate Division. He has been heard as a guest speaker at professional meetings and seminars and on popular radio programs.