With this two-hour course, you will:
- Beware: TEFRA and ELP replacement means high tax and penalties on partnership audits
- See how a partnership pays tax and the partners get no basis step-up
- Understand electing out of the new regime – it must be done soon
- Find out what changes to make so you can elect out
- Get the answers to these questions:
- What is an “imputed underpayment” liability of a partnership?
- What is a “push up” (or “push out”) election and how does a partnership get decimated without it?
- Is it true Congress has eliminated basis step-up in a partner’s interest for income fleshed out in an IRS exam?
- How must partnership (and buy-sell) agreements be revised to avoid problems?
- Who is a “tax representative”? Do they have any skin in the game? Understand how to choose one and limit their power
- What affirmative actions must the tax preparer take to avoid a parade of tax debates?
- Do S corporations, compared to partnerships, look a whole lot better now?
||2 Federal Tax
||2 Federal Tax
||1.5 General MCLE
Course level: Basic
No advanced preparation is required.
Want to order by phone? Call us at: (714) 776-7850
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Bradley Burnett, J.D., LL.M.
Bradley Burnett is a practicing Colorado tax attorney with 33 years of tax practice experience. His practice emphasis is on tax planning and tax controversy resolution. He also prepares tax returns. Bradley has delivered more than 3,000 presentations on U.S. tax law throughout all 50 U.S. states, Washington, D.C., the Bahamas, Italy, Greece, Turkey, and Canada. He has authored texts of 35 CPE courses. Bradley’s seminar style is to deliver the subject matter in briskly paced, enthusiastic, and witty fashion. His forte is the candid communication of practical ideas relating to tax law.
This webinar is designed to meet the requirements for the specified number of hours of continuing education. This webinar has been designed to meet the requirements of the IRS Return Preparer Office; including sections 10.6 and 10.9 of Department of Treasury's Circular No. 230 (Provider No. CRA7E); the California State Board of Accountancy; the California Bar Association; and the California Tax Education Council. This does not constitute an endorsement by these groups. The state boards of accountancy have final authority on the acceptance of individual courses for CPE credit. For more information regarding administrative policies such as complaints or refunds, contact Spidell Publishing at 714-776-7850. Spidell Publishing, Inc. has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual "continuing education" requirement imposed by the State of California for CTEC Registered Tax Preparers.A listing of additional requirements to renew tax preparer registration may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA 95812-2890, or by phone at 877-850-2832, or on the internet at www.CTEC.org.
Spidell Publishing, Inc. 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 the final authority on the acceptance of individual course for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. This webinar is designed to meet the requirements for 2 hours of continuing education for the California Board of Accountancy. Level: Basic. Field of Study: Taxes. Delivery method: Self-Study. For more information regarding administrative policies, such as complaints or refunds, contact Spidell Publishing at (714) 776-7850. There are no prerequisites or advanced preparation required.