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Event Description

A federal income tax update focused primarily on income tax reporting and calculation issues for preparation of 2019 returns. Topics are selected for their likely interest to CPAs who are responsible for assisting clients with preparing returns to report complex Federal income tax matters and to determine income tax liabilities of business enterprises and their owners.

Program Includes:
• Tax compliance rules…do’s and don’t’s
• TCJA 2017 Guidance…Regulations, Revenue rulings, Notices, and Revenue Procedures
   o New Forms
   o Required supplemental information
   o Simplified employee reporting of certain benefits
   o Published IRS Guidance in FAQs, IRS’s own training materials and checklists
• Court decisions affecting Federal income tax compliance for all taxpayers
   o Quick review of worker classification   
   o Employer provided meals and other fringe benefits
   o Recordkeeping requirements

Designed For

Designed for: CPAs, EAs and Attorneys who prepare Federal income tax returns and answer questions from clients such as “Is such and such deductible?” or “Can I claim by granddaughter as a dependent?” Or “Do I have to report the amount on a 1099-C as income?”

Objectives

Learning Objectives:
• Comply with changes in the law for your clients’ benefits to …
   o Report the proper amount of income
   o Use the current version of complex forms
   o Provide all information to get maximum Section 199A deductions
   o Follow loss limitation rules to get maximum deductions
   o Keep records necessary for year-to-year deductions
• Document compliance with the law
• Avoid IRS “Hot Buttons”
• Follow IRS “Safe Harbor” guidance on complex issues

Discussion Leader

E. Nichols, CPA