Description

Client advisory services (CAS) professionals are becoming a more integral part of the operations of any CPA firm. As such, they must stay on top of changing tax law. In this course, we will explore tax changes in areas CAS professionals are involved with — information reporting, payroll tax issues, and tax credit and deduction documentation. We will also discuss relevant changes to individual and business tax returns so that CAS professionals can better assist clients with tax needs in the upcoming year.

Instructor: Dave Peters, CPA, CFP, CLU, CPCU, MST, MBA

Target Audience

Accounting and finance professionals who are looking to stay current on federal tax issues

Course Objectives

Recall common tax deadlines, penalties, and potential remedies

Identify the requirements and how to file for withdrawal of an ERC claim

Recognize where to file an initial beneficial ownership report on the FINCEN website

Identify where to claim deductions for software on Form 4562

State the differences between 1099-K, 1099-NEC, and 1099-MISC

Recognize when a taxpayer must file electronically

Identify when a taxpayer may obtain an IP PIN

State the reporting requirements for virtual currency

Recognize reporting and substantiation requirements related to green energy credits

Subjects

Common tax deadlines and penalties

Employee Retention Credit – new developments

Beneficial ownership information reporting

Bonus depreciation changes

Form 1099 reporting and changes

Online accounts and IP PINs

Virtual currency updates

Green energy credit compliance

Prerequisites

A basic understanding of federal taxation