Annual Federal Tax Update

Course Details

Date

Monday, May 6, 2024

7:00am – 3:00pm (Registration: 3:03am)

Location

Online

Field of Study

Taxation

CPE Credit

8 hours CPE credit

Level of Knowledge

Update

Vendor

AICPA

Prerequisites

Basic understanding of federal income taxation

Description

The latest tax developments decoded [bold]

Building on your current understanding of tax strategies, this comprehensive course covers all legislative, judicial, and IRS developments of the past year with a focus on implementation and compliance.

A curated list of updates to prepare you for tax season [bold]

All-new content includes:

  • The most salient court cases and IRS revenue rulings
  • Notices, FAQs, and private letter rulings
  • Chief counsel advice memoranda in 2023

    You'll also find reminders about legislation that changed in 2023, including bonus depreciation limits, final regulations that go into effect, and more.

    Recent cases affecting individuals, nonbusiness and general business matters shed light on pivotal updates for 2023. Topics include:
  • 2023 inflation-adjusted rates
  • New and expanded individual and business credits
  • Employee-retention credit (ERC) warnings
  • New guidance on cryptocurrency and non-fungible tokens (NFTs)
  • Beneficial ownership information (BOI) requirements
  • Form 1099-K requirement changes

    Highlights

  • Income taxation of estates and trusts
  • IRS administrative issues, compliance, and updated forms
  • Court cases settled in the last year that provide tax return guidance
  • IRS summons and notification requirements
  • IRS rulings, procedures and notices published in 2023
  • Fringe benefits
  • Hobby vs. business
  • Corporate AMT regulations

    Objectives

    • Identify fringe benefits that are partially excluded from income.
    • Recognize the inflation-linked adjustments to select business-related deductions.
    • Identify the correct 2023 rate tables and standard deduction applicable to filers.
    • Recognize the beneficial ownership regulations that go into effect in 2024.
    • Identify new and expiring business tax credits for 2023.
    • Recognize the impact of recent IRS notices and PLRs that pertain to C corporations.
    • Identify new final and proposed regulations relating to C corporations.
    • Recognize newly released or effective final and proposed regulations that pertain to partnerships.
    • Recognize the impact of recent tax cases affecting partnerships.
    • Recognize the requirements of an accountable plan.
    • Identify the circumstances when an S election is terminated.
    • Identify updated tax credits for 2023.
    • Recognize developments in the treatment of cryptocurrency and NFTs.
    • Identify the basis of assets transferred in trust upon the death of a trust's owner.

    Designed For

  • Public accounting senior associates, managers, and partners
  • Tax professionals in company finance or tax departments

    • Registration for this course has passed.

    Course Pricing

    WYOCPA Member Fee
    $332.00

    Non-Member Fee
    $403.00

    Your Price
    $403.00

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