AICPA's Annual Federal Tax Update

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Overview

14.5 Credits
ONLINE

Stay up-to-date on the latest tax developments! This comprehensive CPE course covers all legislative, judicial, and IRS developments of the past year with an emphasis on implementation and compliance. Determine how to effectively and confidently complete tax-planning and compliance engagements. Apply current developments affecting individuals (including those regarding income, deductions and losses, tax calculations, individual credits, filing matters), business entities (including those regarding S Corporations and their shareholders, C Corporations, partnerships), estates and trusts, retirement plans, and more.

Objectives

  • Identify planning strategies and compliance actions resulting from the latest changes to federal tax statutes, regulations, cases, and rulings.
  • Recognize the requirements for establishing an ABLE account
  • Identify the requirements for tip reporting
  • Identify the new tax filing deadlines related to partnerships
  • Determine when an investment constitutes a partnership for tax purposes
  • Differentiate intangible property that may or may not be subject to tax-free exchange
  • Recognize the limitations on avoiding corporate gain through use of partnerships
  • Recognize when the IRS will issue an estate tax closing letter
  • Determine the criteria for deducting bundled fiduciary fees
  • Calculate the new information return penalties
  • Indicate the status of taxpayer compliance as reported by IRS

Major Topics

Legislative developments, regulations issued, and recent IRS rulings and guidance for the following:
  • IRS rulings, procedures and notices for the last year
  • Court cases settled in the last year that provide tax return guidance
  • IRS administrative issues, compliance, and new forms
  • Individual Income, Deductions, and Business Activities
  • Pass-Through Entities and Passive Activities
  • Depreciation and Amortization
  • Retirement Plans and Fringe Benefits
  • Corporate Income, Deduction, Gains, and Losses
  • Accounting Methods and Periods
  • Estates, Gifts, and Trusts
  • Compliance

Designed For

Public accounting senior associates, managers, and partners; tax professionals in company finance or tax departments
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