This comprehensive federal Tax Update will cover all new tax legislation, including a comprehensive review of the changes made by the Tax Cuts and Jobs Act, Technical Correction Act of 2019, and Tax Extenders Act. All significant pending regulations, cases, and rulings in primary areas of federal taxation through October 15, 2019, will be covered.
Learning Objectives
After completing this course the participant will be able to:
- Describe new developments in pension and IRA rules.
- Explain new developments that affect S corporations, LLCs, and partnerships.
- Summarize the most recent tax accounting provisions, including the current status of the repair regulations.
- Discuss the latest changes affecting passive activity losses, including the rules that apply to real estate professionals.
- Describe the latest changes that affect individuals who itemize deductions, including the current status of the deductibility of qualified residence interest.
- Discuss the new deduction under §199A for qualified business income and how to calculate the deduction and the problems that have been encountered by tax return preparers, including defining a specified service business, safe harbor test of Notice 2019-7, alternative options to Notice 2019-7, self leasing rules, and aggregation rules.
- Describe the latest developments on depreciation; bonus depreciation, §179 deduction, and leasehold improvements.
- Discuss the current status of the return preparer rules, e-filing requirements, and PTINs.
- Describe the latest developments in IRS procedures and practices, including Circular 230. Earn one hour of regulatory ethics credit! (Federal only; may not be accepted as ethics credit in states that require state-specific ethics content.
- Discuss the recent changes in the estate and gift tax rules.
- Discuss recent developments in employment and self-employment tax.
Course level: Update / Intermediate
Prior knowledge required:
Working knowledge of federal income taxation
The AES Tax Update is well known as a comprehensive, detailed update on not only new tax legislation, but also recent court cases whose outcomes impact your tax practice. The seminar meets from 8:30 a.m. to 4:30 p.m., at a major hotel in a city near you (see map above, or list by state and city, below).