Schedule & Handouts
Wednesday, June 2, 2021
11:00 a.m. – 1:00 p.m. ET
1040-NR? or 1040? U.S. Income Tax Returns for Noncitizens
Handouts
Slides
Choosing the income tax form that is appropriate for a foreign individual can be clear cut, if you know a few basics, or it may involve complex decision processes. Some clients have straightforward situations and need help simply because they are new to the U.S. income tax system. For some, complex fact patterns must be elicited and interpreted. Others have just found out that they have been filing incorrectly on Form 1040 and their future is in jeopardy. This presentation gives you the knowledge to help them all. Presented by Jean Mammen, EA, FSO (ret.).
Wednesday, June 2, 2021
3:00 p.m. – 5:00 p.m. ET
Your Practice and Divorcing Clients
Handouts
Slides
Divorcing taxpayers create an opportunity for tax professionals. Not only do you have more complicated tax returns to do, but you can help them, assist the attorney, and make money, even in the off season. Family law attorneys are, generally, not tax experts. Your knowledge can guide the attorney to write a better decree which reduces tax burdens on both spouses. Presented by Beth Logan, EA.
Thursday, June 3, 2021
11:00 a.m. – 1:00 p.m. ET
Tax Implications for Closing a Business
Handouts
Slides coming soon
The Coronavirus pandemic brought to the forefront the tax challenges faced by business owners, partners and shareholders when closing or shutting down a business. This program presents an overview of the positive and negative implications and requirements of business termination. The program examines the needs of corporations, partnerships, limited liability companies and individuals. Presented by John Sheeley, EA.
Thursday, June 3, 2021
3:00 p.m. – 5:00 p.m. ET
Marijuana – Current Law & Tax Considerations
Handouts & Slides – coming soon
The legal marijuana industry finds itself in a very unique tax limbo – while the sale of marijuana is legal (but regulated) in most states, marijuana remains a Schedule I narcotic under federal law. As such, the preparation of tax returns for industry businesses is governed by Internal Revenue Code Section 280E and a number of tax court cases. The program explores IRC 280E, what is deductible and what is not under the most current tax court cases. The course also reviews common errors we recently noticed in reviewing other tax returns. Presented by John Sheeley, EA.
Friday, June 4, 2021
11:00 a.m. – 1:00 p.m. ET
Introduction to IRS Representation
Handouts
Slides
This course will provide an overview of the IRS representation process, including, but not limited to, the initial engagement, authorizations to receive taxpayer information and act on behalf of taxpayers, the use of IRS transcripts, and the general lifecycle of an IRS examination or collection case. Presented by Thomas A. Gorczynski, EA, USTCP.
Friday, June 4, 2021
3:00 p.m. – 5:00 p.m. ET
Basic Concepts of CSED and Discharging of Taxes in Individual Bankruptcy
Handouts:
Scenario 1 Transcript
Scenario 1 Answer Key: Transcript Markup
Scenario 1 Answer Key: Manual CSED Calc
Scenario 2 Transcript
Scenario 2 Answer Key: Manual CSED Calc
Slides (updated 6/2/21)
This class will teach the basics of the IRS Statutes of Limitation for collections (Collection Statutes Expiration Date = CSED) and the basic concepts of consumer bankruptcy for individuals and which taxes are eligible for discharge. Both of these topics are very similar as they rely on calculating time passed for different events like assessment and filing dates. These concepts have become more relevant since the COVID Crisis began and IRS collection cases are set to explode. Presented by Roger Nemeth, EA.
