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Getting Ready for Busy Season: Key Changes Every Tax Practitioner Should Know (JS-NFF4/22)
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December 16, 2022 @ 9:00 am - 12:30 pm
Getting ready for busy season involves not only knowing what’s new for the current year, but also understanding how the changing limits, phaseouts and other rules apply to current-year returns. With three major Acts passed in the span of less than 18 months, the present course will constitute a one-stop “shop” that brings you the essential individual tax information as selected from the CARES Act, Consolidated Appropriations Act, and American Rescue Plan Act. In addition, this course provides an up-to-date review of important tax form changes, new tax forms, new limitations, key developments as they are reflected in the IRS forms, and IRS filing issues and deadlines that will be invaluable to attendees who prepare tax returns during busy season.
Any tax practitioner preparing or reviewing individual income tax returns for the current tax year
Understand which income tax returns and schedules have changed for individuals and pass-through entities Identify the legislative, administrative, and judicial developments that affect the income tax returns and schedules of individuals and pass-through entities
A tour of the most recent changes starting from gross income and ending with alternative minimum tax (AMT) and selected credits including the latest IRS guidance on recent tax legislation Hot, hidden, or miscellaneous developments affecting the upcoming tax season Review of new laws and changes in old forms to provide a familiarity for the upcoming tax season Key new tax and practice developments and how they impact the current-year tax forms for individuals
Basic familiarity with tax rules relating to individual and pass-through entity taxation for the current tax year