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The Corporate Transparency Act (CTA) - is a law that mandates that a business entity must disclose who the beneficial owners [Beneficial Ownership Information (BOI)] of the entity are. Any business entity formed by application is subject to the CTA these entities include Corporations (both C and S), Partnerships (both general and limited), Professional Corporations, and Limited Liability Entities (in all Forms). Why is this law here? Well there are those in congress that are… | |
Cryptocurrency - defined as "any digital representation of value that is recorded on a cryptographically secured distributed ledger or any similar technology." Cryptocurrency and NFTs are the most common digital assets with an estimated $2 Billion having been donated as of January 2024. Additionally, the majority of the top US charities accept cryptocurrency donations (56% of the top 100) as of January 2024 with two-thirds of these top crypto enabled nonprofits aren’t just accepting crypto… | |
This course will help financial professionals to support the career development of themselves and others. People who complete this course will be better able to attract and retain talent in their organization by better understanding how to identify and support the career development of others, especially interns and new hires.Course Outline1. The Foundations of Career Development2. The Benefits of Career Development3. The Practice of Career DevelopmentCourse ObjectivesAfter course completion, the participant will be able to:1. Define… | |
While the nuclear family remains the center point of society, today it is under tremendous economic and social pressure. This mini-course is designed to cover hot topics having a direct impact on the practitioner who represents any client with family issues. The emphasis is on using tax solutions to ease family economic concerns permitting the practitioner to be a real tax hero. Completion Deadline & Exam: This course, including the examination, must be completed within… | |
Seismic changes in tax legislation is currently taking place, and the well-informed tax practitioner will want to attend this eight hour program in order to stay abreast of these developments. This program will cover new court decisions, recent IRS publications, and the latest tax legislation that will impact individuals. The remaining time will be spent on IRS procedure and other issues. This course will provide a concise look at the hottest topics affecting every tax… | |
This course will describe when the Yellow Book standards must be applied. This course will identify the types of auditors and audit organizations that may employ GAGAS to conduct their work. This course will identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations. | |
The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity. The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits. The Yellow Book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality control. | |
This course provides a focused analysis of the individual and small business provisions in H.R.1, “One Big Beautiful Bill.” Tailored for tax professionals working with Form 1040 filers, the course explores impactful updates, from the no-tax-on-tips provision to enhanced bonus depreciation. Designed to inform planning strategies and compliance for the 2025 tax year and beyond. Participants will gain actionable insight into newly proposed deductions and expanded credits.To complete this course participants need to: View the… | |
This course provides a focused analysis of the individual and small business provisions in H.R.1, “One Big Beautiful Bill.” Tailored for tax professionals working with Form 1040 filers, the course explores impactful updates, from the no-tax-on-tips provision to enhanced bonus depreciation. Designed to inform planning strategies and compliance for the 2025 tax year and beyond. Participants will gain actionable insight into newly proposed deductions and expanded credits.To complete this course participants need to: Answer polling questions… | |
Each year the U.S. Census Bureau publishes what it refers to as nonemployer statistics that may provide information about the increased importance of the business use of taxpayers' homes. A nonemployer, for purposes of the statistics, is defined as a business that has no paid employees, has annual business receipts of at least $1,000, and is subject to federal income taxes. These nonemployers may be organized as corporations, partnerships, or sole proprietorships. Because they have… | |
This course addresses the provisions of the Inflation Reduction Act most likely to be of interest to tax preparers. In so doing, it examines the tax credits available for energy-efficient home improvements, for the purchase of new and used electric vehicles, for electric car charging and natural gas-powered car fueling devices, and for clean energy generation. In addition, it discusses the expanded health insurance premium tax credits and the extension of the limitation of noncorporate… | |
Although, as reported in the National Taxpayer Advocate blog, the IRS suspended the automatic mailing of collection notices routinely sent when a taxpayer owes federal tax on February 5, 2022, to give the IRS an opportunity to clear its processing backlogs, such automatic mailings are likely to recur and, meanwhile, other IRS delinquent collection activities continue unabated. Statistics for fiscal year 2021, show the IRS ending inventory with a balance of assessed tax, penalties, and… | |
The annual global cost of cybercrime is high and getting higher all the time. In fact, cyber criminals reap a windfall from their activities that is estimated to have been $450 billion in 2015 and is anticipated to climb to an annual $ 10.5 trillion average by 2025. In the United States alone, the FBI received reports of 847,376 complaints involving $6.9 billion in 2021. Almost all of that cybercrime began with and continues to… | |
This course is an overview of the most common aspects and tax implications of Limited Liability Companies and S Corporations. It will further compare forms of entities, along with corporate formalities compliance issues of each entity type. Electing Subchapter S status as well as reviewing the mechanics of electing Subchapter S status will be discussed. Highlights of entity specific tax forms will be discussed, as well as accountable plans, taxable fringe benefits, officer reasonable compensation… | |
Whether assisting troubled taxpayers or responding to an IRS letter on behalf of a current client, navigating the complexities of IRS procedures can often feel overwhelming. However, having the right tools and knowledge makes all the difference. This webinar will provide a practical guide to IRS Form 2848 (Power of Attorney and Declaration of Representative) and Form 8821 (Tax Information Authorization). These essential forms enable tax professionals and taxpayers to manage authorizations, access vital tax… | |
This course is designed for tax professionals seeking to understand and navigate the IRS collection process effectively. Participants will gain in-depth knowledge of the various collection methods employed by the IRS, including liens, levies and wage garnishments. Additionally, participants will learn strategies to avoid or halt collection actions and the implications of the statute of limitations on tax collection.To complete this course participants need to: Answer polling questions to meet NASBA / IRS / State… | |
This two-hour course provides a comprehensive overview of the IRS collection process, guiding tax professionals through each stage, from the initial notice to enforced collection actions. Participants will gain insights into taxpayer expectations during the collection process, as well as strategies for resolving tax debts. The course highlights when to use Form 433-A or 433-B, the documentation needed, and the criteria for submitting an Offer in Compromise (OIC) to settle tax debts for less than… | |
This course equips tax professionals with the knowledge and strategies needed to handle the most common IRS letters, including general notices, audit requests, collections, return inquiries, and error notices. Participants will learn how to interpret IRS correspondence, adhere to response deadlines, and effectively communicate with the IRS to resolve issues and minimize risks. The session also highlights best practices for ensuring compliance and avoiding penalties or escalation, empowering attendees to navigate IRS correspondence with confidence.To… | |
More and more practitioners are expanding their practices by offering retirement planning advisory services. This course focuses on a variety of issues dealing with IRAs and qualified retirement plans. When practitioners understand the advantages and disadvantages of IRAs and qualified retirement plans, as well as the tax implications and designs of these plans, they are better equipped to meet their clients’ needs.Objective:At the end of this course, you will be able to: Define the different… | |
The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity. The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits. The Yellow Book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality control. | |
The new pass-through LB&I field operations unit will boost audits of pass-through entities, including partnerships, S-corporations and trusts. The IRS also established the new IRS associate office focused on partnerships, S- corporations, trusts and estates. A recent GAO study recommended strengthening audit processes for large partnerships.While the number of large partnerships increased almost 600% from 2002 to 2019, only 54 of the 20,000 large partnership returns filed in 2019 were audited, for a 0.3% audit… | |
This course discusses the tax law as currently writen with the expiration of the TCJA. As we all know the TCJA is set to expire this year, and with no tax bill in place (to replace or extend) it will revert back to previous tax law prior to the TCJA (2017 Tax Law). So what does this mean for your client, as death inheritance will revert to a lower tax exempt amount, individual and business… | |
This course is an overview of the most common aspects and tax implications of an S Corporation. Electing Subchapter S status as well as reviewing the mechanics of electing Subchapter S status will be discussed. It will further compare the S Corporation to other forms of entities, along with compliance with corporate formalities. Highlights of Form 1120S will be discussed, including build-in capital gains, accountable plans, taxable fringe benefits, officer reasonable compensation and audit strategies… | |
This course is designed to apprise the participant of relevant U.S. Laws, research, and best practices for prevention and remediation of sexual harassment in the workplace. There will be a focus on defining sexual harassment, description of the prevalence of sexual harassment, and understanding the causes and consequences thereof. An emphasis will be placed on understanding sexual harassment in accounting settings, predictors of sexual harassment, and actions that can be taken to prevent and remediate… | |
The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity. The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits. The Yellow Book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality control. | |
This class not only serves as tax compliance but also as a client planning course. Whether your a CPA, Enrolled Agent, or other Tax Preparer you serve your clients not only as the individual providing tax season support but you should also be advising your client and guiding them on how to best manage and protect their monies/business. This starts on day one of client acquisition. What is the best formation of their company, where… | |
Description: This seminar will introduce the process from filing a tax return to the IRS audit, IRS Appeals, Collections and litigation at courts of original jurisdiction. We will discuss the options taxpayers have at any point in the process with reference to real-life stories from the trenches. This course is ideal for CPAs, EAs, or other tax professionals.Program… | |
Employer-sponsored retirement plans, generally referred to in the aggregate as qualified employee plans, constitute one of the important legs of the retirement stool that individuals look to for their income in retirement. The other two legs of that stool are personal saving through investment in securities, deferred annuities, savings accounts, etc., and Social Security retirement benefits. This course will examine qualified employee plans, their limits, and their tax treatment along with a discussion of annuities… | |
Description: This course presents an overview of blockchain and the tax implication of cryptocurrency transactions. The IRS has provided some recent guidance, but potentially conflicting pronouncements by other regulatory agencies have created uncertainty on reporting issues. This course will help the practitioner understand when a taxable transaction has occurred, what reports to file to satisfy IRS requirements, and identify tax traps for the unwary.Who should Attend: This course is suitable for Corporate tax and finance… | |
Top Trends Impacting the Accounts Payable FunctionIn the complex world of finance and accounting, the significance of mastering accountsChange, and radical change at that, is coming to accounting and finance space. It is coming faster than anyone thought just a few short years ago. The accounts payable function is likely to be the first casualty ̶ or success, depending on your reaction. By identifying the trends that are apt to make the biggest impact and… | |
This course discusses the requirements of a Written Information Security Plan (WISP), as well as key components. Beginning with PTIN renewal season 2024 all PTIN holders must certify they have a WISP and have trained employees, staff and sometime contractors. Upon completion of the course, you will understand the history of the WISP set for under Gramm-Leach-Bliley Act and how Circular 230, AICPA Statement of Standards and the Federal Trade Commission ensure practitioner compliance.To complete… |