Pass-through and Corporate Annual Tax Update

Course Details

Date

Thursday, May 23, 2024

9:00am – 2:00pm (Registration: 12:02pm)

Location

Online

Field of Study

Taxation

CPE Credit

5 hours CPE credit

Level of Knowledge

Update

Vendor

AICPA

Prerequisites

Basic understanding of federal income taxation

Description

The latest tax developments affecting corporations and pass-through entities [bold]

A slate of final regulations affecting corporations and pass-through entities go into effect in 2023, including guidance on the excise tax on corporate stock repurchases and partnership interest transfers and distributions.

Important court rulings and IRS publications [bold]

All-new content includes:

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

    Course materials provide in-depth analyses that practitioners can apply when serving their clients.

    Topics include:
  • Inflation adjustments
  • Bonus depreciation limits
  • Research and experimentation expenditures
  • Partnerships interest transfers
  • Pass-through losses
  • Inadvertent S election terminations
  • Qualified opportunity fund (QOF) self-certification
  • Excise tax on corporate stock repurchases
  • Corporate alternative minimum taxes
  • Form 1099-K requirement changes

    Highlights

  • Corporate AMT
  • Tax-free reorganizations
  • IRS pilot compliance program
  • Partnership audit regime updates
  • Subchapter S election termination

    Objectives

    • Recognize the 2023 limitations for various tax credits, fringe benefits, and other items of income.
    • Identify new and expiring business tax credits for 2023.
    • Recognize the effect of Actions on Decisions on future tax matters.
    • Recall the reporting requirements for Form 1099-K.
    • Recognize new final and proposed regulations that pertain to partnerships.
    • Identify the circumstances when an S election is terminated.

    Designed For

  • Accountants and finance professionals
  • CPAs, senior associates, managers and partners
  • Tax professionals

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