Education Sessions

Education Session Learning Levels
Level 1:This level is intended to build on the knowledge and tax preparation experience of the attendee. It will enhance and reinforce their understanding of issues encountered most frequently in a tax practice and will give them confidence in beginning to handle more difficult issues.
Level 2:This level expands the working knowledge of the practitioner and exposes them to specialized areas of taxation and tax management. This level explores the details about more unusual tax situations or consequences and gives the practitioner the tools to assist clients in these areas.
Level 3:This level leads the experienced practitioner into the most complex areas of taxation and tax management by either the nature of the topic or the depth of the content. The material covered will assume the attendee has a firm grasp of the underlying tax theory and experience in tax management concepts.
Session 1 — Real Estate - Just When You Thought You Had It All Figured Out! • Ron Roberson, CPA

Real estate investors have always created challenges for the tax professional. This fast paced session will review several tax law changes, recent court cases and IRS rulings affecting real estate owners and investors, not to mention us, their tax advisors. This session will also cover new laws regarding passive activities, new like kind exchange rulings, recent law changes and rulings regarding the exclusion of gain from the sale of principal residence, and, of course, an update on the issues surrounding foreclosures. All this plus a review of the traps of installment sales, strategies for using multiple entities to establish capital gain income, and many other planning opportunities make this a can’t miss session.
Prerequisites: None. CE Offered: IRS #WZA09-T-00002-12-I: 4 Hours (Federal Tax Law Topics); CFP and NASBA: 4 Hours; CTEC #1001-CE-6962: 4 Federal Hours; State Bar of California MCLE: 3.5 Hours (Taxation Law)

Session 2 — A Form 1065 Primer • Vicki L. Mulak, EA, CFP®

Everyone needs to start somewhere. Let’s start at the very beginning; a very good place to start! Let’s be honest, Form 1065 can be confusing, as it is used by general partnerships as well as multi-member LLCs. This session should provide a foundational competency in Form 1065 preparation. Included will be the similarities and the differences affecting general partnerships and LLCs, including fill-in forms, basic calculation and suggestions for transferring K-1 information to Form 1040. So, whether you are a seasoned 1040 practitioner, or an apprenticing practitioner or a new practitioner, this basic class is sure to support and expand your existing skill set.
Prerequisites: None. CE Offered: IRS #WZA09-T-00003-12-I: 4 Hours (Federal Tax Law Topics); CFP and NASBA: 4 Hours; CTEC #1001-CE-6963: 4 Federal Hours; State Bar of California MCLE: 3.5 Hours (Taxation Law)

Session 3 — Outer Limits: Attorney v. Non-attorney Practice • Claudia Hill, EA, MBA and Steven Walker, Esq.

This course will introduce students to the issues and conflicts a practitioner faces when dealing with areas that may need the advice of an attorney. Know when your practice crosses the line, approaching the prohibited zone of practicing law. A significant portion of the session will deal with conflicts the non-attorney faces when their client is issued a statutory notice of deficiency. Without proper guidance a taxpayer can flounder in a procedural forest, face intimidation and often times an unhappy result. Other topics addressed will include: Client communications: confidential v. protected; limits of IRC 7525 privilege; Kovel engagements; work-product protection; non-filers v. late-filers; knowing when a case turns criminal; voluntary disclosures; responding to summons; working with estates and trusts. Learn questions to ask when you select an attorney for referrals.
Prerequisites: Some representation experience would be helpful. CE Offered: IRS #WZA09-T-00004-12-I: 4 Hours (Federal Tax Law Topics); CFP and NASBA: 4 Hours; CTEC #1001-CE-6964: 4 Federal Hours; State Bar of California MCLE: 3.5 Hours (Taxation Law)

Session 4 — Estate Planning 2012: From Beginning to Advanced...And Beyond! • Frank R. Acuña, Esq.

This is the “death and taxes” class. What are the advantages and disadvantages of wills and trusts? What type of trusts are the best for singles, unmarried partners, and couples? What are the tax implications of each? What effective charitable giving techniques are available? What’s the big deal with “estate freezing”? And, are valuation discounts still available, and how do you get them to pass muster with the IRS? Most important, what estate planning techniques must be used during 2012 (or face claim of tax professional malpractice)?
Prerequisites: None. CE Offered: IRS #WZA09-T-00005-12-I: 4 Hours (Federal Tax Law Topics); CFP and NASBA: 4 Hours; CTEC #1001-CE-6965: 4 Federal Hours; State Bar of California MCLE: 3.5 Hours (Taxation Law)

Session 5 — Retirement and The Baby Boomer - Planning Ideas to Make You Stand Out • Ron Roberson, CPA

This session will focus more on the planning side of retirement, rather than discuss only tax issues. Strategies such as when to use rollovers, recharacterizations, inherited IRAs and pension plans will all be covered. Which type of plan should I use: IRAs, Roth IRAs, 401ks, SEP IRAs, SIMPLE IRAs or some combination thereof? We will then take on the monster of retirement planning: Social Security and Medicare. Should I start collecting at age 62? Should I work past normal retirement age? Should I put my spouse on payroll? What happens if I die? What if my spouse doesn’t pay into Social Security at his or her work? Is there an annual salary where I maximize my Social Security benefit? We will address these and many other issues. You will be ready to handle those tough client questions after this session.
Prerequisites: None. CE Offered: IRS #WZA09-T-00006-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6966: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 6 — Practical IRS Compliance Solutions for Small Business Retirement Plans • Vicki L. Mulak, EA, CFP®

If you are worried that your small business client may be out of compliance with their SEP, SIMPLE or 401(K) plan, this intermediate class will provide the necessary information for you to address common errors by utilizing the IRS’ Employee Plans Compliance Resolution System and the “Fix-it Guides” to remedy mistakes and avoid the consequences of plan disqualification through participation in the self-correction program (SCP) or the voluntary correction program (VCP). The impact of noncompliance left unchecked can be costly!
Prerequisites: None. CE Offered: IRS #WZA09-T-00007-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6967: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 7 — Your Bankruptcy Questions Answered • Robert E. McKenzie, Esq., EA

What role do you play in your client’s bankruptcy? From understanding why a person enters bankruptcy to how it affects the tax returns you prepare for them and the money they owe the IRS. You will learn about taxation issues raised by bankruptcy, special rules for taxation of individuals in Chapter 7, 13 & 11, discharge of indebtedness and taxes discharged in bankruptcy.
Prerequisites: None. CE Offered: IRS #WZA09-T-00008-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6968: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 8 — Trust Administration and Subtrust Funding - Getting It Done and Saving a Ton! • Frank R. Acuña, Esq.

“Trust Mills” tell our clients, “after you do your living trust, you won’t have to do anything else.” This is absolutely not true. This is a dynamic area in state and federal law and is one of the fastest growing sources of litigation. A trustee who fails to administer a trust correctly (and their attorneys and tax professionals) may be sued under a statute of limitations that is almost limitless. The trustee may be removed and all involved may be personally liable in damages to the beneficiaries.
Prerequisites: A good working knowledge of A-B Living Trusts and QTIP Trusts. CE Offered: IRS #WZA09-T-00009-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6969: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 9 — Alternative Minimum Tax - Watch Out! • Karen Brosi, EA, CFP®

Congress doesn’t seem inclined to overhaul the alternative minimum tax (AMT), but rather seems to “patch” the problem annually. The Congressional Budget Office (CBO) reported that for 2009, 4 million taxpayers were affected by the AMT, and without another temporary fix, the CBO estimates that the number of taxpayers subject to the AMT will increase to 30 million. With more and more of your clients being affected by the AMT, it’s imperative that you broaden and deepen your knowledge of this tax. This course explores the 10 key AMT preferences and adjustments, how the minimum tax credit is applied, when the minimum tax is refundable, when prepaying state income taxes might reduce AMT, and the tips and strategies needed to successfully plan for the AMT.
Prerequisites: None. CE Offered: IRS #WZA09-T-00010-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6970: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 10 — QuickBooks®: Anyone Can Use It - That’s the Problem • Mark F. Seid, EA, CPA, TCP

This course will cover a preparer’s responsibilities when working with a client who uses QuickBooks® accounting software. You will learn how to identify common errors in the basic financial reports and how to fix them – even during the rush of tax season. File transfer options will be explored with a pros and cons approach to the various types of backups and user restrictions in each. You will learn how to assist your client in an IRS examination when the auditor requests a copy of the QuickBooks® data file.
Prerequisites: Working knowledge of QuickBooks® accounting software. CE Offered: IRS #WZA09-T-00011-12: 2 Hours (Federal Tax Law Topics); CFP: 0 Hours; NASBA: 2 Hours; CTEC #1001-CE-6971: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 11 — Yin & Yang - Taxpayer Access to Information and Client Confidentiality • Steven L. Walker, Esq.

The course will provide you with essential skills needed to access information from the IRS. Learn how to obtain information from the IRS under the Freedom of Information Act and how to access records under the Privacy Act. Know what rights taxpayers have to access information. The course also will teach you how to protect client confidential information from the Service. Learn how to effectively respond to IRS requests for information, summons, search warrants and other investigatory techniques while protecting confidential client information. Expand your skill set by attending this practical course designed to help you deal with the IRS.
Prerequisites: None. CE Offered: IRS #WZA09-T-00012-12-I: 2 Hours (Federal Tax Law Topics); CFP: 0 Hours; NASBA: 2 Hours; CTEC #1001-CE-6972: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 12 — Stop the Machine! Dealing with IRS Correspondence Audits • Claudia Hill, EA, MBA

In fiscal year 2010 IRS examined almost 1.3 million individual returns by correspondence; that’s over 70% of ALL individual audits. Over $8 billion in additional taxes were recommended as a result. The National Taxpayer Advocate deems taxpayers interacting with IRS regarding Correspondence Examinations to be one of the Most Serious Problems facing our tax system. This session will explain the process and suggest best practices for a successful resolution the first time…and what to do if it doesn’t work!
Prerequisites: Some familiarity with basic procedures for representation of taxpayers before IRS is helpful. CE Offered: IRS #WZA09-T-00013-12-I: 2 Hours (Federal Tax Law Topics); CFP: 0 Hours; NASBA: 2 Hours; CTEC #1001-CE-6973: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 13 — International Taxpayers • Steven L. Walker, Esq.

The world is becoming a smaller place. Globalization affects us all, and businesses are no longer defined by national borders. The IRS estimates that 7 million Americans reside outside the United States. Be knowledgeable regarding the IRS reporting requirements for individuals from foreign countries and U.S. persons with foreign activities. Know what forms are required and how to complete them. This practical course will teach you the basics with respect to handling a client with international issues. Topics include: (1) taxation of income abroad; (2) foreign bank accounts; (3) clients living and working abroad; (4) visas and foreigners working in the United States; (5) tax withholding; (6) tax treaties; (7) foreign students; and (8) foreign tax credit. Expand your practice and skill set by attending this practical course.
Prerequisites: None. CE Offered: IRS # WZA09-T-00014-12-I: 4 Hours (Federal Tax Law Topics); CFP: 0 Hours; NASBA: 4 Hours; CTEC #1001-CE-6974: 4 Federal Hours; State Bar of California MCLE: 3.5 Hours (Taxation Law)

Session 14 — Business Tax Update - Everything Business • Ron Roberson, CPA

Strap on for this high energy and planning loaded four hour business tax update. Everything business means you will walk away with all of the recent tax developments impacting business. All the latest tax law changes, court cases, IRS rulings and how they all impact your clients will be discussed in depth. Emphasis will be on day to day issues and tax planning for real tax preparers. Bonus depreciation, 179 expensing, and when to use each; the latest on the Health Bill and its impacts on businesses; a review of the myriad of rules impacting health benefits and small businesses; and many, many other important tax and business developments. You will walk away with multiple planning ideas and practical information to use in your practice. A lot to cover in just 4 hours so hold on tight!
Prerequisites: There are no prerequisites; however this is an update class and basic tax concepts are not covered. CE Offered: IRS #WZA09-U-00015-12-I: 4 Hours (Federal Tax Law Update); CFP and NASBA: 4 Hours; CTEC #1001-CE-6975: 4 Federal Hours; State Bar of California MCLE: 3.5 Hours (Taxation Law)

Session 15 — 2012 Representation Update • Robert E. McKenzie, Esq., EA

Over the past several years the IRS has dramatically increased its enforcement efforts. During fiscal year 2011 we saw increased use of enforced collection measures. The IRS also announced new initiatives to allow certain troubled taxpayers more flexibility in resolving their tax problems. This class will discuss the methods the IRS is using in this new enforcement environment. You will learn: new IRS examination priorities and procedures; new IRS collection priorities and procedures; new IRS criminal investigation initiatives; recent important developments for practitioners; status update and prepare registration; taxpayer advocate service report on problems in the tax system; new procedures at IRS campuses and which campuses are closing; and the impact of new IRS leadership.
Prerequisites: None. CE Offered: IRS #WZA09-U-00016-12-I: 4 Federal Hours (Federal Tax Law Update); CFP: 0 Hours; NASBA: 4 Hours; CTEC #1001-CE-6976: 4 Federal Hours; State Bar of California MCLE: 3.5 Hours (Taxation Law)

Session 16 — When Death Meets Taxes: What to do When a Taxpayer Dies • Claudia Hill, EA, MBA

Preparing the final 1040 often brings with it a few surprises: the 1040 isn’t the only document needing to be filed. Often the decedent’s executor or personal representative didn’t know they were responsible for so many tasks and tax duties in winding up their loved one’s final debts to IRS. Using a “Key Issues” approach, this workshop provides a guide to the process and checklists for use along the way.
Prerequisites: None. CE Offered: IRS #WZA09-T-00017-12-I: 4 Hours (Federal Tax Law Topics); CFP and NASBA: 4 Hours; CTEC #1001-CE-6977: 4 Federal Hours; State Bar of California MCLE: 3.5 Hours (Taxation Law)

Session 17 — Foreclosures and COD - It Ain’t Over Yet • Karen Brosi, EA, CFP®

The real estate market continues to be problematic. Taxpayers struggle with personal residences and investment properties in these tough economic times. Your clients who have lost property need you to be fully informed about the rules, and also to be prepared when the documents don’t show what you expect. This session will completely review foreclosure and cancellation of debt rules, exploring short sales and mortgage work-outs. Learn when to use which IRC Section 108 relief alternatives, and the key to giving up “tax attributes.” Worksheets and charts will guide you to proper reporting in this complex area of tax law.
Prerequisites: None. CE Offered: IRS #WZA09-T-00018-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6978: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 18 — All About Hobby Losses • C. Dale Boushley, EA, CFP®

Activities Not Engaged in for a Profit, that’s the technical jargon for what we commonly call a hobby loss. There are many misconceptions about how these activities are reported; is it gross revenue on the 1040 or gross profit? And what of these reporting requirements if the taxpayer creates a partnership or corporation and conducts the activity in the entity? Are there any recent tax court decisions that we can consider? Are the losses disallowed just because the taxpayer enjoys the activity? This session will prepare you to ask the right questions so you will know when one of these issues is in front of you and what to do when it’s there.
Prerequisites: None. CE Offered: IRS #WZA09-T-00019-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6979: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 19 — 7216 Disclosure Rules & Conflicts of Interest (ETHICS) • Kevin C. Huston, EA, MBA, ChFC, CLU

Learn how to protect your practice by properly using the §7216 Disclosure Rules, review the Circular 230 rules about Conflicts of Interest, identify common conflict of interest situations, and discuss ethical ways of dealing with those conflicts.
Prerequisites: None. CE Offered: IRS #WZA09-E-00020-12-I: 2 Hours (Ethics); CFP: 0 Hours; NASBA: 2 Hours; CTEC #1001-CE-6980: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 20 — Conservatorship, Probate, and Trust Administration: How It Works • Frank R. Acuña, Esq.

Tax practitioners in Probate Court is like Alice in Wonderland. The procedures are out of the 18th Century; Accounting makes no sense, and it is often the tax professional who must explain it all to confused clients and family members. This class will provide an overview of the procedures which are used, an explanation of estate accounting, and how taxes are reported when a client is incapacitated or has died.
Prerequisites: None. CPE Offered: IRS #WZA09-T-00021-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6981: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 21 — Filing Same-Sex Couples in Community Property States • Karen Brosi, EA, CFP®

The changing definition of marriage as adopted by a growing number of states has created extraordinary federal income tax filing problems. This is an evolving area of federal tax, and it seems we learn more and encounter new issues almost daily. This session is designed to guide you to proper federal tax reporting for same-sex couples living in community property states. The IRS’s Chief Counsel Advisories in 2010 provided more questions than answers, and since that time the Service hasn’t clarified much. We’ll explore what constitutes community income and expenses, which items aren’t, and areas in the Code where the IRS cannot reconcile. Find out why IRS says Poe v. Seaborn doesn’t always apply to same-sex couples. Latest filing tips and worksheets will be included.
Prerequisites: None. CE Offered: IRS #WZA09-T-00022-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6982: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 22 — Fringe Benefit, Form W-2 and More! • Vicki L. Mulak, EA, CFP®

The small business client frequently confuses the services provided by a payroll processing company with the more sophisticated services provided by a benefits coordinator. The unfortunate outcome is incorrectly prepared W-2s which include reporting omissions and other inaccuracies in the fringe benefit arena. This intermediate session will address the features and filing requirements associated with the most commonly-provided fringe benefits from the employer perspective, including IRC Section 105 plans, Simple Cafeteria plans, HSAs and more!
Prerequisites: None. CE Offered: IRS #WZA09-T-00023-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6983: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 23 — Interesting Aspects of Home Ownership • C. Dale Boushley, EA, CFP®

Owning a home is the American dream, but it’s not just about having a roof over your head. Our personal residence can also provide some great tax benefits, but be careful. Changes in the tax code over the last few years have started to erode some of the benefits we have expected in the past. Will I still qualify for the gain exclusion if I move into my rental property? How long do I have to be there? If your client has an office in the home can they use the §121 exclusion on the whole gain? If not, can a §1031 exchange be used? If I rent out a former residence while trying to sell it, do I have to depreciate the house? If I acquire a rental property in a §1031 exchange and later decide to move into that house, can it qualify for the §121 exclusion? Is an office in the home still a good deal? Is the Soliman decision still a factor?
Prerequisites: Basic knowledge of §1031 exchanges would be helpful. CE Offered: IRS #WZA09-T-00024-12-I: 2Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6984: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 24 — Let’s be Reasonable: Update on Return Preparer Standards (ETHICS) • Claudia Hill, EA, MBA

Tax practitioners can easily find themselves between a rock and a hard place: our clients provide our livelihood; the IRS oversees our ability to earn it. This course looks at two key areas of change affecting the conduct of our practices: Office of Professional Responsibility v. Return Preparer Office (who governs what?); and return preparation standards – the confidence level we must reach before we place an item on a return.
Prerequisites: None. CE Offered: IRS #WZA09-E-00025-12-I: 2 Hours (Ethics); CFP: 0 Hours; NASBA: 2 Hours; CTEC #1001-CE-6985: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 25 — California Tax Update • Karen Brosi, EA, CFP®

California’s lawmakers continue to struggle to balance the state budget, and the result is tax law swerving farther away from federal rules. If you have California clients, you can’t miss this session. We’ll examine which California laws conform to federal law (and which do not), find out about new FTB audit targets, update collection procedures, and demystify the state’s withholding and estimated payment rules. LLC issues and California corporation differences also will be covered. Updates include income, payroll, sales and use tax, community property rules and California issues for foreclosures.
Prerequisites: None. CE Offered: IRS: 0 Hours; CFP and NASBA: 4 Hours; CTEC #1001-CE-6986: 4 California Hours; State Bar of California MCLE: 3.5 Hours (Taxation Law)

Session 26 — A Form 1120S Primer • Vicki L. Mulak, EA, CFP®

This basic level class will serve as a serious guide for the preparation of Form 1120S as well as the corresponding 1040 returns for the shareholders with an emphasis on basis, taxability of distributions and loan repayments. Completed forms for hypothetical scenarios should assist the practitioner in understanding how to apply theory in producing accurate, audit-free tax returns.
Prerequisites: None. CE Offered: IRS # WZA09-T-00026-12-I: 4 Hours (Federal Tax Law Topics); CFP and NASBA: 4 Hours; CTEC #1001-CE-6987: 4 Federal Hours; State Bar of California MCLE: 3.5 Hours (Taxation Law)

Session 27 — Advanced IRS Collection Measures • Robert E. McKenzie, Esq., EA

This class will delve into the complexities of the Internal Revenue Service’s enforced collection procedures. You will learn your client’s rights with respect to liens, levies and seizures. The class will also cover the trust fund recovery penalty which is asserted against responsible persons when a company fails to pay its withholding tax obligations. After attending this class, you will be better able to do the following: defend a client who is the subject of proposed enforced collection measures; defend a client who is the subject of a trust fund recovery penalty investigation; negotiate with the IRS to secure the best results for your clients; and your clients’ appeal rights when negotiations fail at the field level.
Prerequisites: None. CE Offered: IRS # WZA09-T-00027-12-I: 4 Hours (Federal Tax Law Topics); CFP: 0 Hours; NASBA: 4 Hours; CTEC #1001-CE-6988: 4 Federal Hours; State Bar of California MCLE: 3.5 Hours (Taxation Law)

Session 28 — Practical Tax Research • Mark F. Seid, EA, CPA, TCP

This course will teach the attendee how to use primary tax law sources (IRC & Treasury Regulations) and tax research services to document positions taken on tax returns and defend them in an examination. The focus will be on techniques to define issues and locate relevant support in primary source materials and editorial comments of tax research services to support conclusions. Attendees will learn the level of authority of each of the sources. You will explore the Internal Revenue Manual (IRM) to discover how the IRS will approach various issues in examinations and collection activity. Attendees will learn how to use the IRM as a tool to navigate interactions with the IRS.
Prerequisites: Assumes basic knowledge of primary tax law sources. CE Offered: IRS # WZA09-T-00028-12-I: 4 Hours (Federal Tax Law Topics); CFP: 0 Hours; NASBA: 4 Hours; CTEC #1001-CE-6989: 4 Federal Hours; State Bar of California MCLE: 3.5 Hours (Taxation Law)

Session 29 — Divorce and Taxes • C. Dale Boushley, EA, CFP®

Divorce used to be taboo in the United States. Now almost 50% of those who marry are likely to end up in divorce. As it relates to taxes divorce can affect much more than just the filing status and who claims the children. It can change a client’s RMD distributions; it can even reduce the client’s “substantially equal periodic payments.” What about the basis of property exchanged in the property settlement? What about property sold or transferred between the former spouses shortly after the divorce? Come join Dale in a lively discussion of how many ways we have to look at the divorce in order to get the correct answer on the tax return.
Prerequisites: None. CE Offered: IRS #WZA09-T-00029-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6990: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 30 — Schedule C Hot Buttons • Claudia Hill, EA, MBA

IRS is convinced small businesses are hotbeds of non-compliance. Results of the National Research Program have given IRS plenty of ammunition for targeting small business filers. This session will focus on current IRS audit hot buttons and red flags for clients who use Schedule C to report income or loss from a business and preparing defensible returns. Topics include: Small Business & Non-compliance; Review of Identified Key Audit Issues; How EITC due diligence applies to Schedule C claims; Three Hurdles to Deducting Business Losses; Sham Transactions.
Prerequisites: None. CE Offered: IRS #WZA09-T-00030-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6991: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 31 — Gambling and Taxes: The Price of Winning • Robert E. McKenzie, Esq., EA

Most states now have some form of legalized gambling. As a result, more and more people have gambling winnings or losses. Unfortunately, not all taxpayers maintain adequate records of winnings and losses and become subject to IRS audits. Learn the rules and regulations for accounting for gambling winnings and losses. We will review the most recent cases and rulings both for and against taxpayers. In this class you will learn: casino reporting requirements; taxpayer recordkeeping requirements; reporting rules for gambling winnings and losses; recent cases and rulings; correction of taxpayer mistakes; and best ways to defend a taxpayer who becomes subject to an IRS gambling audit.
Prerequisites: Basic knowledge of the tax aspects of gambling would be helpful. CE Offered: IRS #WZA09-T-00031-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6992: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 32 — What’s That On The W-2? • Kevin C. Huston, EA, MBA, ChFC, CLU

All of those different codes in all of those little boxes!! This basic level course will help you identify what information is important, and what information can be ignored in the preparation of the client’s tax return. More importantly, you’ll learn what to do with the information provided on the W-2 form. Tax software is no substitute for a good tax professional.
Prerequisites: None. CE Offered: IRS #WZA09-T-00032-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6993: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 33 — Client Data Security, An Ethical Discussion for Tax Professionals (ETHICS) • C. Dale Boushley, EA, CFP®

Both Circular 230 and the Gramm, Leach, Bliley Act require that income tax preparers protect the confidentiality of client non-public information. This session discusses what each of these requires and methods of complying with those requirements. You will be able to identify which client information is considered confidential, what the penalty might be for making inappropriate disclosure, determine where conflicts of interest exist and what to do about them, and understand how to better protect client data kept in the office or while in transit between the office and another location.
Prerequisites: None. CE Offered: IRS #WZA09-E-00033-12-I: 2 Hours (Ethics); CFP: 0 Hours; NASBA: 2 Hours; CTEC #1001-CE-6994: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 34 — He Said, She Said – Is Any Spouse Really Innocent? • Claudia Hill, EA, MBA and Robert McKenzie, Esq., EA

This course will introduce students to the legal rules for obtaining spousal relief from tax liability flowing from jointly filed returns and separate returns from community property states. At the conclusion of this course students will be able to: understand the proper situation for use of IRC 6015 for Innocent spouse, Separation of liability, and Equitable relief; describe the procedure and forms for applying for relief; understand the options in client appeals; latest rules for 6015(f) and retroactive remedies available; and section 66(c) provisions for community property states.
Prerequisites: Some familiarity with basic procedures for representation of taxpayers before IRS is helpful. CE Offered: IRS #WZA09T-00034-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6995: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 35 — Three C’s of NOLs - Calculation, Carryback and Carryover • Mark F. Seid, EA, CPA, TCP

A Code and Regulations to Forms approach to calculating the NOL, the carryback and carryover absorption in intervening years. Attendees will learn how to properly classify business and nonbusiness income and expenses, the four modifications required to determine a current year NOL, and how to calculate modified taxable income for carryback absorption. Special situations for joint and separate NOLs will be demystified. Extensive examples will be used to demonstrate how the calculations are shown on tax forms. Attendees will receive a guide to preparing refund requests from an NOL carryback so that it is accepted by the IRS – the first time.
Prerequisites: None. CE Offered: IRS #WZA09T-00035-12-I: 2 Hours (Federal Tax Law Topics); CFP and NASBA: 2 Hours; CTEC #1001-CE-6996: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 36 — Ethics Jeopardy (ETHICS) • Kevin C. Huston, EA, MBA, ChFC, CLU

This session will provide a Jeopardy-style game show approach to real life issues from Circular 230, IRS substantial authority, avoiding preparer penalties, and recent developments in tax preparation and representation. Attendees will enjoy learning, testing their knowledge, and engaging in a lively discussion as we probe the “right thing to do” even when no one is looking. And finally, a fun way to learn how to protect your practice. You will learn and review ethical concepts to protect your practice, and discuss best practices in dealing with ethical issues facing the Circular 230 practitioner.
Prerequisites: None. CE Offered: IRS # WZA09-E-00036-12-I: 2 Hours (Ethics); CFP: 0 Hours; NASBA: 2 Hours; CTEC #1001-CE-6997: 2 Federal Hours; State Bar of California MCLE: 1.75 Hours (Taxation Law)

Session 37 — IRS Hot Topics • IRS Presenters

This IRS presentation will cover IRS key messages for tax professionals including: Federal Tax Law Update, Tax Return Preparer Initiative and Registered Tax Return Preparer Competency Test Preparation information.
Prerequisites: None. CE Offered: IRS: WZA09-U-00037-12-I: 1 Hour (Federal Tax Law Update); CTEC #1001-CE-7046: 1 Federal Hour. NOTE: $19 surcharge applies.