Surgent's End-of-Year Tax Roundtable: Prospective New Legislation and Developments

Description

For much of the year, tax practitioners toggle between preparing tax returns and advising clients about how the tax law impacts them. But occasionally, a different perspective is called for. In this program, Ken Kies and Fred Amrein, tax experts with different practices and outlooks, get together with Surgent's Mike Tucker to talk about what happened in 2022 and what may happen in 2023 and later from the perspective of their areas of tax expertise.

Ken Kies is a nationally known tax commentator and tax advisor who is familiar with the tax big picture as well as the "in the weeds" minutia of tax law. Ken will discuss the evolution of the Inflation Reduction Act, prospective late 2022 and early 2023 tax legislation, and how the Congressional election results will impact the future of tax legislation.

Fred Amrein is an expert in the tax and financial aspects of how to pay for college and how to reduce or eliminate accumulated college debt, topics that impact almost all tax practitioners and most of their clients. Fred will speak about the new automation, linking IRS tax data to the Department of Education repayment and FAFSA systems. This change will impact both individual and business clients.

Highlights

• Prospective tax legislation coming in late 2022
• 2022 tax developments: putting the Inflation Reduction Act in perspective
• Purpose of the new energy credits: will all of us have electric cars before too long?
• Transfers of energy and car credits to unrelated transferees: what does this do to prices?
• Increased demand for better tax planning due to IRS data feeding student loan repayments, forgiveness and FAFSA systems starting in mid-2023
• Student loan repayment and forgiveness update: current information on various forgiveness and repayment programs: who gets forgiven, how much, and the importance of 2022 taxes for their repayment restart?
• Why can’t borrowers pay off their student loans from college?
• Can and should CPAs develop a specialization in student loan repayment and financing college expenses?
• Treatment of student loan payments as elective deferrals for purposes of matching contributions
• Why are retirees still paying off their own college debt and sometimes that of their children and grandchildren?

Objectives

• Understand where we are and where we’re going in regard to tax developments
• Be familiar with student loan repayment and forgiveness rules as well as college funding as potentially new practice areas

Designed For

All accounting and finance practitioners