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2020 Virtual IRS Nationwide Tax Forum Webinars
(T) Federal Tax Law*
(U) Federal Tax Law Updates*
(E) Ethics Seminar*
(F) Certified Financial Planner Track**
There are no advanced preparation requirements or prerequisite requirements for the webinars listed below.
*Please follow the notations (T) , (U) and (E) for webinars that qualify for continuing education credit for enrolled agents, certified public accountants and Annual Filing Season Program participants.
**Webinars marked (F) have been reviewed by the Certified Financial Planner Board and qualify for continuing education credit for certified financial planners.
1. Advocating for Immigrant Taxpayers
(T) (F) This panel will focus on what tax obligations and tax benefits apply to immigrants, including resident and nonresident aliens, and what issues arise. It will also discuss needing and applying for an individual Taxpayer Identification Number (ITIN).
2. Advocating for Taxpayers with Collection Information Statements
(T) (F) This panel will cover best practices for substantiation challenges on Form 433-A, Collection Information Statement for Wage Earners and Self-Employed Individuals. Topics include voluntary support payments, value of distressed assets, business-use vehicles, taxpayers living in high-cost locales, and expenses that differ from the allowable living expenses.
3. Be Tax Ready - Understanding Eligibility Rules for EITC, AOTC, CTC and Head of Household Filing Status
(T) Participants will explore scenarios from the Tax Preparer Toolkit and have an opportunity to test their understanding of the Earned Income Tax Credit, Child Tax Credit/Additional Child Tax Credit, Credit for Other Dependents, American Opportunity Tax Credit and Head-of-Household filing status rules.
4. The Bipartisan Budget Act of 2015's Centralized Partnership Audit Regime
(T) (F) This session will provide an overview of the centralized partnership audit regime created by the Bipartisan Budget Act of 2015 (BBA). The BBA is generally effective for tax years beginning 2018 and later. It replaces the Tax Equity and Fiscal Responsibility Act (TEFRA) partnership audit procedures. The default rule under BBA is that the audited partnership pays an imputed underpayment on audit adjustments.
5. Charities & Tax-Exempt Organizations Update
(U) (F) Learn about the latest guidance and other changes affecting charities and tax-exempt organizations. We'll also discuss the new all-electronic process for filing Forms 1023 or 1023-EZ, applications for recognition of exemption under 501(c)(3).
- When to use Form 1023-EZ instead of Form 1023
- Using Tax Exempt Organization Search (TEOS)
- Latest rules and guidance affecting your charity
- How IRS StayExempt can help you keep tax-exempt status
6. Currency: Virtual, Digital, Cyber, Crypto? Form 1040, Schedule 1 and How to Report
(T) (F) In this session we will look at what the "check the box" question on Form 1040, Schedule 1 regarding virtual currency means and how to comply. By attending this session, you will learn virtual currency terms you need to know such as virtual, digital, crypto, airdrop and hard fork. We will cover how to report virtual currency transactions for investors, traders, miners and for personal use since these currencies can now be used to purchase at Microsoft, Overstock.com, Expedia, eBay and more. With the recent GAO report making recommendations to IRS on reporting, and IRS sending out letters 6173 and 6174 to virtual currency owners, attend this session to learn how to keep your clients tax compliant in the virtual currency world. Presented by the National Association of Tax Professionals, www.natptax.com.
7. Cybersecurity for Tax Professionals - Advanced Session
(T) (F) This presentation is designed to delve deeper into the most pressing cyber threats facing small and medium-sized companies in the tax industry. The session will focus on reviewing security practices for tax preparers, enhancing safeguards, and implementing security controls and incident response plans to prevent, protect, mitigate, respond, and remediate cyber incidents. It will include discussion of enterprise risk management and prevention; data security plan development and implementation; effective responses to an attack and/or breach; IRS requirements to protect taxpayers and their data; and state and federal laws and regulations governing data security. Whether you are the sole tax practitioner in your office or part of a multi-partner accounting firm, this session will help you in developing a cybersecurity strategy fit for your business in order to better combat fraud and protect your client's data. Presented by the American Coalition for Taxpayer Rights, an IRS Security Summit partner, www.irs.gov/securitysummit.
8. Diligence in Practice before the IRS: Record-Keeping
(E) (F) Due diligence is something the tax preparer community must adhere to in the preparation of tax returns and communications with the IRS. Critical to meeting this due diligence obligation is the collection, review, and retention of information substantiating the positions taken. This seminar will highlight the importance of diligence in tax practice and Circular 230's explicit duties of due diligence, best practices to ensure accurate and complete information is received from clients, suggestions on how to deal with missing records, and best practices for keeping records secure.
9. Electronic Payments and Direct Deposits - New Options
(T) (F) The IRS and Bureau of Fiscal Services are committed to being efficient stewards of taxpayer dollars. During this presentation we will introduce a new electronic payment platform and talk about how making electronic payments and receiving electronic refunds can benefit both you and your clients.
10. Federal Ethics for the Tax Professionals: Office of Professional Responsibility (OPR) and Circular 230
(E) (F) Circular 230 contains the standards tax practitioners must abide by when servicing their clients. The OPR administers these standards and makes recommendations for practitioner discipline. This session will explain the oversight responsibilities of the OPR, describe the difference between OPR and the Return Preparer Office (RPO), and provide an overview of the scope of Circular 230 for those who practice before the IRS.
11. Impact of Non-filing and Non-payment
(T) (F) This presentation will provide practitioners with useful information for approaching and resolving non-filer situations. Discussion will include how to obtain past year income documents, a description of the non-filer process and what to do when your client receives a delinquency notice.
12. IRS Key Enforcement Issues
(U) (F) This session will discuss key enforcement issues of the IRS, including priorities of the examination divisions and the Office of Chief Counsel. Issues include the following:
- Micro-Captive Insurance Campaign and Strategy - an overview of the transaction and an update to the enforcement strategy for micro-captive transactions. It will address an abusive promoted captive insurance strategy used by midsize businesses seeking tax-motivated means for allegedly transferring risk.
- Syndicated Conservation Easement (SCE) - an overview of the transaction and an update to the enforcement strategy for SCE transactions.
- Virtual Currency - On July 2, 2018, IRS announced the virtual currency compliance campaign to address noncompliance related to the use of virtual currency through multiple treatment streams including outreach and examinations.
Other important examination priorities will be discussed.
13. Keynote Address
(T) (F) IRS Commissioner Chuck Rettig will discuss current issues affecting tax administration, IRS programs and services, and future agency initiatives.
14. Keys to Mastering Due Diligence Requirements and Audits
(T) (F) This seminar will provide an overview of due diligence requirements for Earned Income Tax Credit, Child Tax Credit/Additional Child Tax Credit, Credit for Other Dependents, American Opportunity Tax Credit and Head-of-Household filing status. Tax professionals will receive insight on what to do when IRS contacts them for not meeting their due diligence requirements and walk through a due diligence audit.
15. Other Income: Taxable or Not?
(T) (F) Many of your clients may earn income in a variety of ways or an unusual one-time income event. Identifying how various types of income are reported on the federal income tax return can be very confusing. During this session we will examine when a refund, credit, or offset of income taxes received may have to be reported as additional income, various types of income and losses and how they are reported, and the tax treatment of alimony received. We will also identify how net business income or loss is reported, and which types of income and losses are reported on Schedules E and F. Included in this session are real life examples, scenarios, and resources to keep you in compliance and help your clients make the most of these benefits. Presented by the National Society of Accountants, www.nsacct.org.
16. Preparation of Form 1040-NR, U.S. Nonresident Alien Income Tax Return
(T) (F) In this session, we will review the Form 1040-NR, U.S. Nonresident Alien Income Tax Return, in detail with explanations to certain line items pointing out common errors and issues. We will also present a general overview of taxation of nonresident alien individuals and highlight relevant changes due to the Tax Cuts and Jobs Act. The session will conclude with a comprehensive example of a properly completed Form 1040-NR. A nonresident alien individual is generally subject to U.S. income tax only on his or her U.S. source income. A nonresident alien individual's U.S. source income falls into two main categories: 1) Fixed or Determinable, Annual or Periodical (FDAP) income, and 2) Effectively Connected Income (ECI). The U.S. taxes these categories of income in two different manners; FDAP is taxed on a gross basis generally at a 30% rate, and ECI is taxed on a net basis at graduated rates. A nonresident alien individual with a filing requirement or who wants to claim a refund of over-withheld tax must timely file a Form 1040-NR to report income, and any allowable treaty benefits, deductions and credits. If eligible, a nonresident alien individual may file a Form 1040-NR-EZ, U.S. Income Tax Return for Certain Nonresident Aliens with No Dependents, instead of a Form 1040-NR.
17. Protect Yourself and Your Clients Against A New Wave of Criminals
(T) (F) As your business increases its protection against cyber threats, the criminals are increasing their efforts to gain access to your data. Hear what you can do to help protect against tax fraud and this new wave of cybercriminals. IRS Criminal Investigation will cover what they are doing to combat the emerging areas of refund fraud and cybercrime. Together, we can help protect client data and their confidence in the tax system.
18. QBI Problems? We Have Solutions!
(T) (F) Tax professionals are in the second tax season with §199A and many faced challenges with this new deduction both last year and this year. This course will review the most common §199A problems encountered in practice and effective solutions to those problems. Topics to be discussed will include correcting prior year errors, incorrect Schedule K-1s, and specified service trade or business (SSTB) classification issues. Presented by the National Association of Enrolled Agents, www.naea.org.
19. Representing the Taxpayer Without Records, Reconstructing Income and Expenses
(T) (F) When representing the Taxpayer without adequate books and records; How and When Can a Preparer Use Taxpayer Estimates & Reconstructions to Prepare a Return. Presented by the American Bar Association Section of Taxation, www.americanbar.org/groups/taxation.
20. Retirement Plan Distributions, Loans and More
(T) (F) Learn about the expanded loan and distribution options available in certain retirement plans and IRAs for 2020 under the CARES Act. The SECURE Act is also making many changes that affect retirement plans and IRAs. We'll also discuss the small business initiative for retirement plans.
- Coronavirus-related distributions and loans
- Qualified individuals eligible for this expanded relief
- Changes to required minimum distributions for 2020 and 2021
- Modified required distribution rules for beneficiaries
- Repeal of maximum age for traditional IRA contributions
- New penalty-free withdrawals in retirement plans
- New tax credit for retirement plan startup costs
21. Tax Changes from a Forms Perspective
(U) (F) This seminar will discuss tax changes for the 2021 filing season as illustrated by their impact to tax forms, instructions, and publications.
22. Tax Cuts and Jobs Act (TCJA) Update: Opportunity Zones
(U) (F) This presentation will provide an update on a key TCJA provision: Opportunity Zones (OZ) including updated and significant information from January 2020 final regulations, Form 8996, Qualified Opportunity Fund and Form 8997, Initial and Annual Statement of Qualified Opportunity Fund (QOF) Investments and other relevant information.
23. Tax Cuts and Jobs Act (TCJA) Update: Qualified Business Income Deduction
(U) (F) This presentation will provide an update on the Qualified Business Income Deduction, a key provision of the Tax Cuts and Jobs Act (TCJA), as a result of additional guidance received since the passage of TCJA in December of 2017.
24. Taxpayer Planning Issues After the Enactment of the 2019 Disaster Act and Secure Act
(U) (F) This course reviews the individual Form 1040 tax implications enacted by the Disaster Act and Secure Act Legislation. Tax Professionals will be introduced to the tax planning opportunities available as the result of the new legislation. The course will discuss the need to review transactions which will provide clients knowledge and understanding transactions resulting in the deferral and exclusion from gross income. In addition, the course will review the tax benefits of some temporary and permanent provisions for individual taxpayers. At the completion of the session, the participants will be better equipped to discuss the benefits, burdens and challenges of the Disaster Act and the SECURE Act with their Form 1040 clients. Presented by the National Society of Tax Professionals, www.nstp.org.
25. Tax Security Panel: The Taxes-Security-Together Checklist
(T) (F) A panel discussion of key security issues affecting tax professionals, including requirements that all professional tax preparers create a written data security plan, the signs that you may be a data theft victim and what to do if you are a data theft victim.
26. Update from the IRS Independent Office of Appeals
(U) (F) This seminar will walk you through an overview of the examination and collection hearing processes and provide updates on key legislative changes and their impact on the IRS Independent Office of Appeals.
27. Worker Classification Issues - Hiring Freelancers Is Never Free and It May Cost You A Lot, Too
(T) (F) The growth of the "gig economy" and some law changes and proposals have created a great deal of confusion for businesses and individuals. Employee? Self-employed? Somewhere in between? When misclassification or misunderstanding occurs, things get expensive. Additional liabilities for federal taxes, state taxes and unemployment insurance are only some of the consequences. The Tax Cuts and Jobs Act requirements to limit the deduction for unreimbursed employee business expenses and the ability to qualify for the 199A deduction are provisions which are directly tied to worker classification. Join us as we go through the various characteristics of each type of worker and some recent federal and state law changes so you can make sure you understand the gig economy and worker classification and all your clients will rate you "5 stars." Presented by the American Institute of Certified Public Accountants, www.aicpa.org.
28. Cambios Tributarios desde la Perspectiva de Formularios
(U) (F) Este seminario discutirá los cambios fiscales para la temporada 2021 de presentar impuestos se ilustrará por medio de su impacto en las formas de impuestos, instrucciones y publicaciones.
Este webinar será presentado en español.
This webinar will be presented in Spanish.
29. Creditos Reembolsables
(T) (F) Muchos profesionales de impuestos siguen teniendo preguntas sobre el efecto que la reforma tributaria tiene en el Crédito Tributario por Hijos/Crédito Tributario Adicional por Hijos/Crédito para Otros Dependientes y los requisitos de presentación de Cabeza de familia. Este seminario proporciona información sobre los requisitos de diligencia debida y varios asuntos complejos sobre créditos y el estado civil de presentación. El seminario también ayudará a los preparadores pagados aprender más sobre el cumplimiento del IRS y los esfuerzos educativos para ayudar a los profesionales de impuestos a cumplir con sus requisitos de diligencia debida.
Este webinar será presentado en español.
This webinar will be presented in Spanish.
30. Construya su Plan de Seguridad de Datos para sus Contribuyentes
(T) (F) Con los recientes cambios en la ley tributaria y las continuas amenazas a la ciberseguridad que enfrenta la comunidad tributaria, es importante proteger mejor los datos de los contribuyentes y ayudar a prevenir los ciberataques. Conozca las amenazas y consejos cibernéticos más apremiantes y cómo prevenir, proteger y responder a incidentes cibernéticos. Esta sesión incluirá discusión sobre oportunidades y amenazas cibernéticas; gestión y prevención de riesgos; respuestas efectivas a un ataque y/o violación de seguridad.
Este webinar será presentado en español.
This webinar will be presented in Spanish.