International Tax Institute, Inc.


The International Tax Institute, Inc. holds monthly seminars in mid-town Manhattan on current subjects of international tax law. 

We provide New York State continuing legal and professional education (non-transitional CLE and CPE) credits to international tax attorneys and accountants.  Founded in 1961, we are a 501(c)(3) organization.

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Our Next Seminar  

Tuesday, July 14, 2015

"Splitting Headaches: Final Regulations Under IRC Section 909 Suspend (and Sometimes Eliminate) Foreign Tax Credits in 'Splitter' Transactions"



James J. Tobin, Chair
Ernst & Young

Andrew R. Walker
Milbank, Tweed, Hadley & McCloy (principal author of the NYS Bar Association report on FTC splitter arrangments)

Suzanne M. Walsh

Internal Revenue Service, Washington DC (principal author of the final section 909 regulations)


Great complexity arises under the foreign tax credit rules when the U.S. tax base diverges from the foreign country base on which a foreign tax is imposed. Section 909 was aimed at specific “splitter” transactions that seek to exploit these inconsistencies to allow a U.S. taxpayer to claim credits for foreign taxes for which the U.S. taxpayer is technically liable under a foreign country’s tax law without including corresponding amounts of income.  Section 909 “suspends” the foreign tax until the related income is taken into account by the U.S. taxpayer.  However, the rules that track the “related” income and determine when it is treated as taken into account in some circumstances can have the practical effect of permanently eliminating credits for the foreign tax.   
The Panel will discuss the final regulations under Section 909, the types of transactions to which the rules apply and the difficulties that may arise in “freeing up” suspended foreign taxes, also touching on the relationship between section 909, the “technical taxpayer” rule and the “compulsory payment” requirements.

Time:       12:15 p.m. to 2:00 p.m. 

Cost:        $100 for members and $140 for non-members

Location:  Grand Hyatt New York at 109 East 42nd Street, New York, NY

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Our Corporate Members:

A&L Goodbody
Alston & Bird LLP
Arthur Cox
Blake, Cassels & Graydon LLP
Boies, Schiller & Flexner LLP
Bryan Cave LLP
Cadwalader, Wickersham & Taft LLP
Cleary Gottlieb Steen & Hamilton LLP
Curtis, Mallet-Prevost, Colt & Mosle LLP
Davies Ward Phillips & Vineberg LLP
Deloitte Tax
Dentons US LLP
Ernst & Young
Fox Horan & Camerini LLP
Friedman LLP
Gide Loyrette Nouel LLP
Greenberg Traurig LLP
Holland & Knight LLP
International Business Company Formation, Inc.
Interpublic Group
Jefferies LLC
Jones Day
Kaye Scholer LLP
Kilpatrick Townsend & Stockton LLP
Kostelanetz & Fink LLP
Loyens & Loeff
Machado Meyer Sendacz e Opice Advogados
Marks Paneth & Shron LLP
Mayer Brown LLP
McDermott, Will & Emery LLP
McGladrey LLP
Morrison & Foerster LLP
Osler, Hoskin & Harcourt LLP
PepsiCo, Inc.
PKF O'Connor Davies
PriceWaterhouseCoopers LLP
Proskauer Rose LLP
Roberts & Holland LLP
Rothstein Kass
Ruchelman PLLC 
Skadden, Arps, Slate, Meagher & Flom LLP
Sullivan & Cromwell LLP
Torys LLP
Viacom International, Inc.
Weil, Gotshal & Manges LLP
Winston & Strawn LLP

Thank you for your support!

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Contact Us:

Phone:  212.954.4594
Fax:      646.224.8627

Mailing address:

Crystal Ross
International Tax Institute, Inc.
345 Park Avenue - 13th Floor
New York, NY 10154-0102

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