ACPEN Signature 2024: Partnership & LLCs Tax Return Preparation

Overview

LLCs and partnerships continue to present some of the greatest challenges for return preparers and advisors.  This program will address the latest developments:

• New IRS audit initiatives
• An SE tax update for LLCs and partnerships
• Disregarded entity rules and transactions
• Common allocation problems
• Identifying various types of partnership debt properly for basis purposes
• The 754 election in the sale of interests and at death
• Reporting LLC and partnership interests on gift and estate tax returns and valuation of closely held businesses and minority interests

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Highlights

• IRS audits
• Allocations and Basis
• Proper reporting
• Valuation of closely held business interests

Prerequisites

None

Designed For

Industry and Public Accountants

Objectives

• Learn about new IRS audit initiative
• Learn to avoid allocation and basis calculation errors
• Identify disregarded entities for income tax purposes and how those are treated differently under other taxes
• Learn how partnerships and LLCs are addressed in estate and gift tax reporting rules

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 Accounting Continuing Professional Education Network (ACPEN).