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Federal Tax Update

Description

In this course, we review current year developments and planning ideas affecting individual, corporate and business income taxation using a combination of humor and examples. We will emphasize all major new tax legislation as well as other significant tax developments that affect 2022 tax return preparation and 2022 tax planning for individuals, corporations, and non-corporate businesses.
The course format is designed to update CPAs with various levels of experience.

Objective

To 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. The seminar is designed to update participants concerning 2022 tax developments emphasizing practical solutions to problems and tax planning opportunities.

Highlights

The major topics covered in this seminar include: 1) A review of the latest new law provisions affecting 2022 returns; 2) A review of any late-breaking 2022 tax legislation; 3) 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), 4) New regulations modifying the required minimum distribution (RMD) rules for 2022 to comply with SECURE Act changes, 5) New life expectancy tables for determining 2022 RMDs, 6) IRS ruling explaining when vacation home rentals are subject to S/E tax, 7) New cases determining FBAR penalty calculations, 8) New pro-taxpayer hobby loss case, 9) Election for Partnerships and S corporations to pay state income tax at entity level and by pass Federal SALT limitation, 10) Other new tax cases, rulings, and regulations expected to have the most significant impact on individuals and businesses. The presentation will emphasize tax planning opportunities resulting from these recent developments.

Who Should Attend

Individuals having one or more Tax Seasons and a general understanding of 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.

Required Knowledge

Detailed Knowledge of Taxation and Tax Return Preparation.

Advanced Prep

At Least One “Tax Season.”

Event Speaker(s)

Mr. Don Farmer, CPA ( Don Farmer, CPA, PA, Lenoir, NC ),

Additional Event Information

Check-in for all in-person events begins one hour prior to event start time. Also, be sure to allow enough time for traffic, parking, and check-in. If you should arrive late or depart early, you must adjust your CPE credit accordingly.

CLE
CLE program hours are subject to the review from the NC State Bar - Continuing Legal Education. CLE hours may differ from CPE hours and are based on the NC State Bar approval.

Also Available As

Seminar
Wednesday, November 9, 2022 (8:30 am–4:30 pm ET) , Raleigh
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Webcast
Thursday, December 8, 2022 (8:30 am–4:30 pm ET)
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Webcast
Wednesday, November 9, 2022 (8:30 am–4:30 pm ET)
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Webcast
Monday, December 19, 2022 (8:30 am–4:30 pm ET)
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Event Vendor:Don Farmer
Field of Study:Taxes
Level: Update
Other:Enrolled Agent

Event Type:Seminar
NASBA Instructional Method:Group Live
Event Code:F0000322

Registration Fees

Early Bird Rate expires December 6, 2022

RegistrationEarly BirdRegular
NCACPA Member$285.00$335.00
Non-Member$385.00$435.00
Other CPA State Society MemberN/A$0.00
Other State Society Member$285.00
CPE Sponsors LogoThe North Carolina Association of Certified Public Accountants 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.nasbaregistry.org/.

For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.