Overview of 2012 Income Tax Law Changes

$49.00

Target Audience:  CPAs, EAs, RTRPs 

Field of Study: Taxation (NASBA); Federal Tax Update (IRS)

Seminar Level: Beginner

 


 

IMPORTANT INFORMATION REGARDING CPE CREDIT: THE IRS RETURN PREPARER OFFICE ACCEPTS THIS SEMINAR FOR ONE (1) CONTINUING PROFESSIONAL EDUCATION (CPE) CREDIT FOR ENROLLED AGENTS (EA). IF YOU ARE NOT AN ENROLLED AGENT, PLEASE CONSULT WITH YOUR RESPECTIVE STATE LICENSING AGENCY REGARDING ACCEPTABILITY OF THIS CREDIT. 

IRS COMMUNICATIONS AND LIAISON IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. STATE BOARDS OF ACCOUNTANCY HAVE FINAL AUTHORITY ON THE ACCEPTANCE OF INDIVIDUAL COURSES FOR CPE CREDIT. COMPLAINTS REGARDING REGISTERED SPONSORS MAY BE SUBMITTED TO THE NATIONAL REGISTRY OF CPE SPONSORS THROUGH ITS WEBSITE: WWW.LEARNINGMARKET.ORG.

DISCLAIMER: THIS SEMINAR WAS FILMED IN Atlanta, georgia, ON JULY 10, 2012, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.

The Wage and Investment operating division delivered this seminar at the IRS Nationwide Tax Forum in July 2012.

Learn about the major income tax law changes for 2012 and how they will affect tax forms and publications. 

By the end of this presentation you will:

  • Be reminded of education-related credits, long-term capital gains and dividend tax rate changes, and the Mortgage Forgiveness Debt Relief Act and debt cancellation
  • Learn about the newest policies, credits, and forms affecting preparers and taxpayers
  • Receive an overview of the Foreign Account Tax Compliance Act, the definition of a “specified foreign financial asset,” and the failure-to-file penalties
  • Be aware of expired tax benefits, as well as some non-refundable credits which can no longer be applied against Alternative Minimum Tax (AMT)

No prerequisites or advanced preparation are required for this seminar.

New Information Reporting Requirements for TY 2011 and 2012

$49.00

Target Audience:  CPAs, EAs, RTRPs 

Field of Study: Taxation (NASBA); Federal Tax (IRS)

Seminar Level: Beginner

 


 

IMPORTANT INFORMATION REGARDING CPE CREDIT: THE IRS RETURN PREPARER OFFICE ACCEPTS THIS SEMINAR FOR ONE (1) CONTINUING PROFESSIONAL EDUCATION (CPE) CREDIT FOR ENROLLED AGENTS (EA). IF YOU ARE NOT AN ENROLLED AGENT, PLEASE CONSULT WITH YOUR RESPECTIVE STATE LICENSING AGENCY REGARDING ACCEPTABILITY OF THIS CREDIT.

IRS COMMUNICATIONS AND LIAISON IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. STATE BOARDS OF ACCOUNTANCY HAVE FINAL AUTHORITY ON THE ACCEPTANCE OF INDIVIDUAL COURSES FOR CPE CREDIT. COMPLAINTS REGARDING REGISTERED SPONSORS MAY BE SUBMITTED TO THE NATIONAL REGISTRY OF CPE SPONSORS THROUGH ITS WEBSITE: WWW.LEARNINGMARKET.ORG.

DISCLAIMER: THIS SEMINAR WAS FILMED IN ORLANDO, FLORIDA, ON JULY 13, 2011, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.

 

The Small Business/Self-Employed operating division delivered this seminar at the IRS Nationwide Tax Forum in Orlando, Florida, in July 2011.

Starting in 2006, Congress enacted a number of provisions to enhance tax filing accuracy through third-party information reporting. The legislation requires new information reporting to the IRS, individual and business taxpayers. This session is designed to help third-party information reporters understand the new provisions as well as assist them in complying with the new reporting requirements for securities sales, credit card sales and government payments for products or services.

 

By the end of this presentation you will:

  • Learn about third party reporting legislation passed by Congress which provides better documentation to compute and report income/basis
  • Understand payment card and third party network transactions as described in IRC §6050W
  • Understand securities basis reporting as described in IRC §6045(g)
  • Find out how IRS will use new information reporting to improve voluntary compliance

No prerequisites or advanced preparation are required for this seminar.

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