Taxpayers are ultimately responsible for their own returns, but return preparers are subject to ethical standards that make them responsible for what is in the return, what is not in the return and how that information is presented. For example, return preparers are expected to inform clients about errors discovered and the consequences of ignoring them. The preparer must evaluate the reliability of information furnished by the taxpayer.
Lynn Nichols, CPA, has been recognized as an authority on the rules governing tax practice for three decades. His CPE programs on the subject have been the standard in New York, Florida, Ohio and with a number of regional CPA firms. His is accepted as an expert on the subject in both federal and state courts. Professional liability insurers have recognized the value of his Tax Practice Quality Control training.
Want to protect against unnecessary liability? Avoid the headache of big mistakes discovered in IRS audits? A quality tax practice begins with respect for the Standards.” Join Lynn for this valuable practice guidance.
Treasury Circular 230
AICPA Statements on Standards for Tax Services
Internal Revenue Code Preparer Penalty Provisions
Construction contractors are like any other tax client--except when it comes to determining income. (Not to mention best cost recovery options). Add all the usual issues with any owner-managed business and providing tax services to construction contractors is a recognized specialty.
Lynn Nichols, CPA. has served construction clients and presented CPE on the specialized tax rules to which they are subject since 1978. Bring your toughest questions to this program and go back to your office with answers.
In this program, Lynn will:
- Review the IRS Audit Guide for Construction Contracts, and recent changes
o Percentage of Completion
o Completed Contract
- Address recent changes in the law affecting Construction Contractors
o Cash vs Accrual
o $25 million threshold for application of some rules
o New Section 199A
o New Section 163(j) Limitation on Business Interest
o New Section 461(l)(1)(B) Excess Business Loss Limitation
Tax compliance issues for fiduciary entities are sometimes confusing to practitioners since many lack experiences in this area. This course provides the practitioner with a practical understanding of the issues involved in preparing the U.S. Income Tax Return for Estates and Trusts (Form 1041).
At the end of this course you will be able to:
- Recognize the main components of the U.S. Income Tax Return for Estates and Trusts (Form 1041).
- Discuss planning strategies for estates and trusts
- Aspects of preparing Form 1041
- Specific issues regarding a decedent’s estate
- Specific issues regarding a trust
- Understanding the basics of Subchapter J of the Internal Revenue Code
The Government Accounting Standards Board (GASB) has been very busy lately. This course will review the accounting standards newly issued by GASB, including Leases, OPEB and Fiduciary Activities. We will focus on the implementation of standards that will be effective in the near future. We’ll also discuss GASB’s current projects and exposure drafts so you better understand what’s coming down the road. We will close with a look at the major changes in Single Audit and Yellow Book impacting governmental accountants and auditors.Find out more
Discussion Leader Miller Edwards, CPAFind out more
Discussion Leader Betty Spells, CPAFind out more
Discussion Leader Timothy Baker, CPA, DBA, CITP, CMAFind out more