Target Audience: CPAs, EAs
Field of Study: Taxation (NASBA); Federal Tax Update, Federal Tax/Tax Related Matters (IRS)
Seminar Level: Beginner
IMPORTANT INFORMATION REGARDING CONTINUING EDUCATION CREDIT: THE IRS RETURN PREPARER OFFICE ACCEPTS THIS SEMINAR FOR ONE (1) CONTINUING EDUCATION CREDIT FOR ENROLLED AGENTS (EA) AND ANNUAL FILING SEASON PROGRAM PARTICIPANTS. IF YOU ARE NOT AN ENROLLED AGENT OR AN ANNUAL FILING SEASON PROGRAM PARTICIPANT, 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 GRAPEVINE, TEXAS, ON JULY 30, 2013, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.
The Wage and Investment operating division delivered this seminar at the 2013 IRS Nationwide Tax Forum.
In this seminar, you will learn about the major tax law changes for 2013, including how they will affect tax forms and publications. Topics include the return of prior provisions, inflationary adjustments, Net Investment Income Tax (NIIT), Additional Medicare Tax (AdMT), business use of the home, taxpayer burden reduction and aggregate transaction reporting.
By the end of this presentation you will be able to:
- Differentiate between phase-out limits for IRA contributions and threshold amounts for NIIT and AdMT for individuals and employers
- List the standard mileage rates in 2013 taxpayers can use when operating their cars for business, medical or charitable purposes
- Apply the new, optional safe-harbor method to figure the expenses for business use of the home
- Explain how tax professionals and stakeholders can submit their ideas to the IRS for reducing taxpayer burden and improving service
No prerequisites or advanced preparation are required for this seminar.