Don Farmer's 2022 Federal Tax Update

Wednesday, December 21, 2022
8:00 AM - 4:00 PM (opens at 7:30 AM) EST
8Credits
Technical Business

Registration is Closed

Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.

Members
$275.00 Regular Price
Non-Members
$400.00 Regular Price
Course Type: CPE Seminars
Course Code: 22/3-200WS
Level: Update
Vendor: Virginia Society of CPAs
Field of Study: Taxes

Overview:

Review current year developments and planning ideas affecting individual, corporate and business income taxation using a combination of humor and examples. We will emphasize all major new tax legislation as well as other significant tax developments that affect 2022 tax return preparation and 2022 tax planning for individuals, corporations and non-corporate businesses.

The course format is designed to update CPAs with various levels of experience.

Delivery Method: Group-live
CPE Credit: Taxes
Program Level: Update

Objectives:

  • To review major developments in federal income taxation for individuals, corporations, and other businesses having the greatest impact on participants, their clients and their companies.
  • The course will emphasize developments affecting 2022 returns and tax planning, including any new 2022 legislation, important regulations, rulings, and court cases.
  • The seminar is designed to update participants concerning 2022 tax developments emphasizing practical solutions to problems and tax planning opportunities.

Presenters:

  • Bill Harden

    Bill is an Associate Professor in the Bryan School of Business and Economics at the University of North Carolina at Greensboro where he teaches tax courses on flow-through entities, individual and corporate tax, tax research, IRS practices, and ethics. Bill has over twenty years of experience in taxation. He began his public accounting career in 1990 in the Dallas office of one of the Big Six...

    Read more about Bill Harden here

Presenters:

Bill Harden

Bill is an Associate Professor in the Bryan School of Business and Economics at the University of North Carolina at Greensboro where he teaches tax courses on flow-through entities, individual and corporate tax, tax research, IRS practices, and ethics. Bill has over twenty years of experience in taxation. He began his public accounting career in 1990 in the Dallas office of one of the Big Six...Read more about Bill Harden here

Major Topics:

The major topics covered in this seminar include:

  •  A review of the latest new law provisions affecting 2022 returns
  • A review of any late-breaking 2022 tax legislation
  • Final regulations applicable to tax years beginning on and after Jan. 5, 2021 outlining the proper treatment of inventories and use of the cash method for taxpayers with average gross receipts of $26 million or less and new 2022 Rev Proc providing rules for automatic changes in accounting methods (including changes in accounting methods to comply with these new regulations)
  • New regulations modifying the required minimum distribution (RMD) rules for 2022 to comply with SECURE Act changes
  • New life expectancy tables for determining 2022 RMDs
  • IRS ruling explaining when vacation home rentals are subject to S/E tax
  • New cases determining FBAR penalty calculations
  • New pro-taxpayer hobby loss case
  • Election for Partnerships and S corporations to pay state income tax at entity level and by pass Federal SALT limitation
  • Other new tax cases, rulings, and regulations expected to have the most significant impact on individuals and businesses

 The presentation will emphasize tax planning opportunities resulting from these recent developments.

Major Topics:

The major topics covered in this seminar include:

  •  A review of the latest new law provisions affecting 2022 returns
  • A review of any late-breaking 2022 tax legislation
  • Final regulations applicable to tax years beginning on and after Jan. 5, 2021 outlining the proper treatment of inventories and use of the cash method for taxpayers with average gross receipts of $26 million or less and new 2022 Rev Proc providing rules for automatic changes in accounting methods (including changes in accounting methods to comply with these new regulations)
  • New regulations modifying the required minimum distribution (RMD) rules for 2022 to comply with SECURE Act changes
  • New life expectancy tables for determining 2022 RMDs
  • IRS ruling explaining when vacation home rentals are subject to S/E tax
  • New cases determining FBAR penalty calculations
  • New pro-taxpayer hobby loss case
  • Election for Partnerships and S corporations to pay state income tax at entity level and by pass Federal SALT limitation
  • Other new tax cases, rulings, and regulations expected to have the most significant impact on individuals and businesses

 The presentation will emphasize tax planning opportunities resulting from these recent developments.

Designed For:

Individuals having one or more tax seasons and a general understanding of individual, corporate and business income taxation who are involved in the preparation and/or review of individual, corporate and business income tax returns or who provide tax planning advice to individuals and businesses

Prerequisties:

At least one tax season

Accommodations:

Delivery Method - Group Live
CPE sponsors

The Florida Institute of Certified Public Accountants (FICPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBARegistry.org