Federal and California Tax Update for Individuals | Titans of Tax Tour

Description

This in-depth analysis of the year's essential changes in Federal and California tax law explains new legislation and IRS and FTB guidance. Key developments from the IRS, FTB and courts are covered, along with compliance and planning lessons learned from these rulings. Due diligence considerations relevant to all new law is addressed to prepare for tax season. The new law and related IRS guidance are covered. Course materials summarize essential developments. The eBook provides links to the full text of source documents discussed during the program and developments beyond key ones covered in the presentation. Materials include a table with links to Federal regulations and IRS rulings for 2022. Note: This is the companion course to Federal and California Tax Update for Businesses and Estates . Safety Measures Burlingame- CalCPA is following Order No. C19-12 of the Health Officer of San Mateo County for wearing face coverings in workplaces and public settings. This order requires all individuals to wear face coverings when indoors in workplaces and public settings, with limited exemptions, regardless of vaccination status. Burbank (Los Angeles County)- CalCPA follows the guidance offered by the Los Angeles County Department of Public Health requiring the wearing of face coverings, regardless of vaccination status, in all indoor public settings, venues, gatherings, and public and private businesses in Los Angeles County. Orange County- CalCPA is following the Order by the Orange County Health Care Agency that requires face coverings for unvaccinated individuals in indoor public settings and businesses. Sacramento- CalCPA is following the Health Officer of the County of Sacramento Order, under the authority of California Health and Safety Code Sections 101040, 101085, 120175 and 120220, requiring the wearing of face coverings, regardless of vaccination status, over the mouth and nose in all indoor public settings, venues, gatherings and workplaces.

Highlights

• 2022 legislation from Congress and California.

• Income inclusions, exclusions and deductions, and losses.

• Property transaction updates, including for cryptocurrencies and other digital assets.

• Passive activities, hobbies and other losses

• California major developments for individuals

• Filing status, credits and retirement plan developments

• Expiring provisions.

• Due diligence reminders.

Objectives

• Identify new federal and California tax legislation affecting individuals.

• Describe the year's significant federal and California law change from the legislature, IRS, FTB and the courts.

• Identify new due diligence areas relevant to individual income tax matters.

• Learn how new tax rules affect tax planning and compliance.

Designed For

CPAs, attorneys and tax practitioners.