Event Description

Tax practitioners have been hard-pressed to keep up with recent legislation and new IRS guidance. In this course, tax advisors will be fully updated on the most important legislative and regulatory developments of the season as well as major trends and changes in the case law, with a view toward planning considerations. This course is continually updated to reflect enacted legislation.Major Topics• Comprehensive coverage of the Inflation Reduction Act, including:• The Clean Vehicle Credit, Credit for Previously Owned Clean Vehicles, Credit for Qualified Commercial Clean Vehicles, Residential Clean Energy Credit, Energy Efficient Home Improvement Credit, Premium Tax Credit, and Prevailing Wage and Apprenticeship Requirements• Comprehensive coverage of the SECURE 2.0 Act, including:• Expanding Enrollment in Retirement Plans, Increase in Age for Required Beginning Date for Mandatory Distributions, New Exceptions to Penalty-Free Withdrawal from Retirement Plans, and recent IRS guidance• Timely coverage of breaking tax legislation• New Form 1099-K reporting requirements• Detailed analysis and examples of Sale of Passthrough Entity Interest and Net Investment Income Tax• Bonus Depreciation in 2023• Section 163(j) in 2023• Section 174 Research and Experimental Expenditures• Residency and Domicile• Selling a principal residence, including tax planning strategies• Virtual currency, including recent developments regarding NFTs, new Form 1099-DA, and recently released proposed regulations regarding new IIJA broker reporting requirements• New FinCEN reporting requirements in 2024• Practice aids, including all the numbers applicable for the current year — inflation-adjusted amounts, mileage rates, retirement contributions, and more• Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas

Designed For

CPAs who need to know the latest tax law changes in all areas of practice, whether newly licensed or a seasoned professional

Objectives

Understand the latest tax law changes     Understand strategies and techniques for individuals to use in light of tax changes     Understand current cases and rulings affecting individuals and businesses

Major Subjects

Comprehensive coverage of the Inflation Reduction Act of 2022 and the SECURE Act 2.0     Timely coverage of breaking tax legislation     Reporting requirements for Schedules K-2 and K-3     Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations     Donor Advised Funds     Selling a principal residence, including tax planning strategies     Employee vs Independent Contractor conundrum continues     A comprehensive overview of virtual currency, including important tax considerations     Section 162(m) executive compensation     State of the IRS     Practice aids, including all the numbers applicable for the current year — inflation-adjusted amounts, mileage rates, retirement contributions, and more     Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas

Prerequisites

Experience with individual and business clients

Instructions

CFP Credits:YesIRS Approved:YesYellow Book:No