November 18, 2022


Live Webcast


8 Total CPE Credits

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Federal Income Tax Update with Don Farmer

  • Instructor

    Don Farmer

Learning Objectives

Review major developments in federal income taxation for individuals, corporations, and other businesses having the greatest impact on participants, their clients, and their companies. The course will emphasize developments affecting 2022 returns and tax planning, including any new 2022 legislation, important regulations, rulings, and court cases.

Major Topics

The major topics covered in this seminar include:

  • A review of the latest new law provisions affecting 2022 returns
  • A review of any late-breaking 2022 tax legislation
  • Final regulations applicable to tax years beginning on and after January 5, 2021, outlining the proper treatment of inventories and use of the cash method for taxpayers with average gross receipts of $26 million or less and new 2022 Rev Proc providing rules for automatic changes in accounting methods (including changes in accounting methods to comply with these new regulations)
  • New regulations modifying the required minimum distribution (RMD) rules for 2022 to comply with SECURE Act changes
  • New life expectancy tables for determining 2022 RMDs
  • IRS ruling explaining when vacation home rentals are subject to S/E tax
  • New cases determining FBAR penalty calculations
  • New pro-taxpayer hobby loss case
  • Election for Partnerships and S corporations to pay state income tax at the entity level and by-pass Federal SALT limitation
  • Other new tax cases, rulings, and regulations expected to have the most significant impact on individuals and businesses.

CPE Credits Available

8
Total CPE
8
Taxes

Things to Know About This Course

Prerequisites

At least one year of experience in a “tax season"

Intended Audience

Individuals having one or more tax seasons and a general understanding of the individual, corporate, and business income taxation who are involved in the preparation and/or review of individual, corporate, and business income tax returns or who provide tax planning advice to individuals and businesses.

Provider

AICPA

This event has ended.