Federal Tax Update – Individual & Business Update

If last year was action packed, this year promises to be even more so. Join expert, Lynn Mucenski-Keck, as she provides an update on the most recent changes affecting individuals that you’ll need to navigate through the maze of tax legislation.

With the increasing complexity and ever-changing nature of tax laws and issues, today’s accountant needs a one-day fast-paced update course focusing on the hottest Federal income tax topics affecting individuals, businesses, and their owners with an emphasis on newly enacted income tax legislation.

This fast-paced CPE session is a comprehensive review of newly enacted income tax legislation, issuance of income tax regulations, court cases, IRS notices, revenue procedures, and private letter rulings affecting individuals and businesses.  Each participant will receive a comprehensive manual with the hottest tax topics including Lynn Mucenski-Keck Quick Reference Chart.

Learning Objectives

• Identify important 2022 cases
• Recognize and apply legislative developments
• Review administrative releases
• Recognize and apply new legal developments to you practice

Session Highlights:

• Timely coverage of breaking individual income tax legislation, including extension of excess business loss limitation rules and clean energy credits
• Pass Through Entity Tax Payments and Federal Implications: Analyzing the tax benefit rule, passive activity income, and self-employment income.
• Cryptocurrency reminders, including treatment of transaction fees versus transfer fees
• Learn about the newly proposed required minimum distribution regulations to ensure clients are taking the proper amounts
• Federal Tax Rules Surrounding Wildfires, Droughts, Flooding, and other natural disasters
• Highlight potential changes of the SECURE 2.0 Act, which some are expecting to pass before year-end

Part 2- | Federal Business Income Tax Update |

Date: Dec 28, 2022| Time: 12:00 PM ET | 11:00 AM CT | 09:00 AM PT | 240 Minutes

Join Lynn Mucenski-Keck, as she delivers up-to-the-day changes in federal tax law for businesses. The course, delivered at a brisk pace and with humor, is designed to meet the needs of the tax planner and return preparer by identifying and responsibly exploring recent important tax developments impacting businesses.

Learning Objectives

• Recognize relevant new federal tax developments for businesses
• Identify important court cases, regulations, rulings and related developments affecting C and S corporations, partnerships, LLCs, and Schedule C businesses
• Recognize IRS activity impact on planners and preparers for businesses

Session Highlights:

• Timely coverage of breaking federal income tax legislation, including a potential extender bill regarding research and development credits
• Understand the expanded business interest limitation for 2022 and how your clients will be affected
• Planning around reduced bonus depreciation
• Schedules K-2 and K-3 reporting requirements and update
• Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations
• Key 2022 rulings
• IRS Examination Priorities

Who Should Attend 

This course is essential for CPAs, CFPs, enrolled agents, estate planners, tax attorneys and other professionals who advise clients on tax, retirement and estate planning, and other wealth management matters.

Credits and Other information:

• Recommended CPE credit – 8.0 Tax Hours
• Recommended field of study – Tax
• Session Prerequisites and preparation: None
• Session learning level: Basic
• Field of Study: NASBA Taxes; IRS Federal Tax Update
  
• Location: Virtual/Online
• Delivery method: Group Internet Based
• NASBA Sponsor: 138804
• IRS Course ID: DFFSC
• Attendance Requirement:  Yes
• Session Duration: 8 Hours
• Case Studies and Live Q&A session with speaker
• PowerPoint presentation for reference