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Seminar: 1040 Individual Tax 2021

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Description

Seminar: 1040 Individual Tax 2021

  • November 16-17, 2021
  • 16 CPE Credits over 2 days, 8:00 a.m. – 4:30 p.m.
  • Lunch is included both days

This Seminar will be held in person and virtual with a Live Instructor. For those that register prior to November 1, 2021, a Hard Copy of the Manual will be provided to the virtual participant.  All in-person participants will receive a Hard Copy of the Manual.  For those that register after that date, an online version of the manual will be provided via ProView.

PROGRAM DESCRIPTION:

This comprehensive course covers key tax issues for completing complicated individual returns including family return issues, taxpayers with investments, retirement income, the sole proprietor, and business and rental activity owners. Stay current with in-depth coverage of recent legislation, case law developments, and relevant notices, announcements, revenue rulings, and procedures. Speakers are all practicing preparers who share practical tips to help you get ready for this tax season.

COVERAGES INCLUDE:

  • Economic impact payments (EIPs) (also known as recovery rebate credits) – 2021 and round three.
  • The excess business loss limitation is back and here to stay for an extra year.
  • Temporary advance payments of the child tax credit in 2021 and sweeping enhancements of this popular personal tax credit.
  • Earned income tax credit – 2021 changes and beyond.
  • Changes to the education credits and deductions and the rules associated with debt discharge
  • The rules of retirement plan accumulation and distribution
  • Strategies to maximize personal credits – earned income tax credit and credits for sick and family leave for certain self-employed individuals.
  • The child and dependent care credit more than doubled for 2021 for qualifying taxpayers.
  • Special 2021 retirement distribution rules for qualified disaster distributions.
  • Reporting of interest, dividends, and capital gains
  • Tax practice and taxpayer strategies to safeguard confidential taxpayer information
  • Recent tax legislation and its impact on an individual taxpayer’s net operating loss (NOL), including new rules for farming NOLs.
  • SBA’s PPP loan forgiveness – Schedule C or Schedule F outcomes.
  • Self-employment taxation exclusion applicable to rentals from real estate
  • The CARES Act retroactive changes to qualified improvement property (QIP)
  • Final regulations defining real property for purposes of IRC Sec. 1031 tax-free like-kind exchanges
  • The qualified business income deduction (QBID) under IRC Sec. 199A – an endangered species?

LEARNING OBJECTIVES:

  • Apply the rules of penalty assessment and abatement;
  • Identify reporting required to “reconcile” the EIPs;
  • Assess the temporary advance payments of the child tax credit in 2021 and implement sweeping enhancements of this popular personal tax credit;
  • Recognize changes to education credits and deductions, and evaluate rules associated with debt discharge;
  • Analyze what tax years are now subject to the IRC Sec. 461(l) loss limitation rules for noncorporate taxpayers;
  • Identify the CARES Act’s impact on an individual taxpayer’s net operating loss (NOL), analyze the SBA’s PPP loan forgiveness parameters, and evaluate the CARES Act changes to qualified improvement property (QIP);
  • Calculate the qualified business income deduction (QBID) under IRC Sec. 199A;
  • Analyze the impact of the Consolidated Appropriations Act, 2021, on deductible personal casualty loss deductions.

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If four (4) or more members of the same firm attend the above seminar a $20.00 savings per attendee will incur. YOUR GROUP MUST REGISTER BY MAIL TO RECEIVE THIS DISCOUNT. All attendees must be current members of I.A.A. prior to the above seminar date in order for the discount to take effect.

  • Registrations received after November 1, 2021 will add an additional $25.00
  • Registrations day of Seminar add an additional $25.00
  • No refunds will be issued after November 8, 2021

Note: No exceptions to the above three statements. A separate registration form must be filled out for each attendee

Instead of registering online, you can download a PDF version of this form and return it along with payment made payable to I.A.A.

Mail to:
Independent Association of Accountants of New York, Inc.
4043 Maple Rd. Box 100 A
Amherst, NY 14226

Additional information

Status

IAA Member, Non-Member

Location

InPerson, Remote

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