This
two-day course is the go-to for a broad spectrum of highlights regarding
individual return preparation. In the cacophony of economic changes, we will
filter out the noise and walk you through the most consequential tax changes of
recent legislation. We’ll also address this year’s key revenue rulings,
procedures, and case law, with practical tips and insights to help you have
your most successful season ever.
Learning Objectives
- Maintain
a broad understanding of the hot issues and changes in individual tax
preparation
- Understand
a “hodge-podge” of practice issues affecting preparers of individual tax
returns
Major Topics
- A
tour of the most recent form changes, from gross income to tax brackets
and selected credits including the latest IRS guidance on tax
legislation
- Individual
tax issues and a review of important new practice issues and
regulations
- Schedule
1 adjustments for excess deductions upon the termination of trusts and
estates
- Proposed
regulations that clarify the definition of a “qualifying relative”
- Retirement
distributions, including new rules in the SECURE Act 2.0
- Section
461(l)
- Increased
oversight of paid tax return preparers
- Hot,
hidden, or miscellaneous developments affecting the upcoming tax
season
- Housekeeping
and winning the audit lottery
- Numbers
applicable to this year’s tax filings
- The
impact of recent legislation and changes to Form 1040
Donor-advised funds and miscellaneous tax
planning strategies