This course is essential for the tax practitioner who wants to update their knowledge of both individual and business income taxation. This course will provide a comprehensive review of Form 1040 complexities and a comprehensive review of business income tax complexities. It will include any changes in tax legislation passed and any important topics that impact clients will be discussed during the lecture.
Learning Objectives
- *Recognize both an update and instructions so that the participants will have the necessary knowledge to complete IRS Form 1040 for the 2017 tax season.
- Recognize both an update and instructions so that the participants will have the necessary knowledge
Major Topics
- *Review of essential IRC Sections
- Review of new legislation
- New credits, deductions and tax relief for 2017
- Review of all tax credits
- Alternative Minimum Tax legislation and other extenders
- IRS collection issues and lien relief
- Reporting fraud losses and repayment of fraudulent gains
- Online sellers and bartering
- Alternatives for required minimum distributions in 2017
- Income and exclusions from cancellation of debt
- Reporting foreclosures or repossessions of residences and other real estate
- Health reform and medical issues
- Schedule C, schedule F, schedule E issues
- Partnership issues, corporation issues, LLC issues
- The effect of extender legislation
- Qualified retirement plan issues
