Surgent's Technical Business Practice Issues and Tax Forms for Experienced Practitioners
Overview
Don’t let the title frighten you. It is critical that staff be trained on the increasingly complex forms-related issues that challenge them each busy season. This course will help experienced staff focus on the essential amidst the cacophony of IRS and legislative changes and avoid costly mistakes.
This course brings to the forefront advanced preparation issues, from individual returns to flow-through entities such as S corporations, LLCs, and partnerships.
Highlights
- Schedules K-2 and K-3 and filing exceptions
- Form 7203
- IRS Tax Pro Account
- IRS modernization initiatives
- Information Returns Intake System (IRIS)
- Identity Theft warnings
- IRS guidance for the marijuana industry
- “Recycled” Form 1099-NEC to report nonemployee compensation
- Form 1065 steps for reporting capital
- Centralized audit regime; late filing penalties and small partnership relief
- “Substance over Form” argument of shareholder loans
- Advanced study of “At-Risk” loans
- Employer W-2 correction requests
- White House 2024 Budget Points
- Don't get caught watching the paint dry -- What is hot and new
- What is terminating S corporations today?
- Special allocation issues of §704
- Final regulations for allocating depreciation recapture to partners and members of LLCs
Prerequisites
Basic- to intermediate-level experience in preparing Forms 1120-S and 1065
Designed For
Accounting and Finance Professionals who are involved in planning, preparing, or reviewing complex returns
Objectives
- Properly complete several tax forms related to certain advanced technical issues which arise in preparing Forms 1065 and 1120-S
- Understand advanced technical practice issues facing practitioners today
Preparation
None
Notice
This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Surgent Professional Education.
Leader(s):
Leader Bios
Mike Frost
Mike Frost, CPA, of Jacksonville, Alabama, provides tax consulting, continuing education, and motivational speaking services through his company, Mike Frost Enterprises. Mike is a former shareholder of MDA Professional Group, PC, where he managed the tax department of the Albertville office. Mike has 31 years of experience in public accounting, including but not limited to: Business and individual income tax preparation and planning; mergers and acquisitions; estate, gift, and trust tax preparation; small business consulting; Medicare planning and other elder care; audit representation; and religious groups and clergy. Mike has conducted CPE engagements and seminars throughout the United States and has served as technical advisor for tax articles in The Sand Mountain Reporter, a local newspaper. Mike has been a featured presenter at the Alabama Society of CPAs Annual Meeting and the Federal Tax Clinic held annually at the University of Alabama in Tuscaloosa. Mike graduated with “high honors and distinction” from Jacksonville State University with a major in accounting, a minor in finance, and a 4.0 GPA. He is a member of the American Institute of Certified Public Accountants and the Alabama Society of Certified Public Accountants. In addition, he is a graduate of the Tax Planning and Advising for Closely Held Businesses Certificate of Educational Achievement Program sponsored by the AICPA.
Non-Member Price $329.00
Member Price $279.00