2012-2013 IRA & Individual Retirement Federal Tax Update (Currently Unavailable)

Author: Vern H.

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Law Updates for EAs and OTRPs
2 hours Federal Tax Updates for CTEC

In this course, Vern discusses the current Tax Codes, cases and ruling affecting IRA and individual retirement plans.

Follow along with Vern's 39 page manual containing hyperlinks to important rules and regs, included with purchase.

Course Sponsor:Vern Hoven Tax Seminars:
NASBA Sponsor Number: 108250/QAS Sponsor Number: 041

Designed For
All tax practitioners, both public and industry, who need the latest - and necessary - tax changes for their clients

Topics Covered

  • Reviewing the rules affecting traditional and Roth IRAs.
  • Identifying all the 2012 inflation adjustments that affect the amount that can be contributed into IRAs, Roth-IRAs, and individual retirement plans like 401(k)s.
  • Examining the stunning elimination of the income limits when rolling over into a Roth-IRA.
  • Followed by the question "Should my client covert to a Roth?" which we will answer with a myriad of planning ideas.
  • Planning how to get out of the Roth IRA if the value went down between rollover and paying the taxes.
  • Marveling at the rule that allow qualified plans to transfer funds directly to a Roth-IRA.
  • Analyzing the option permitting employees to contribute their elective deferrals into a Roth-IRA.
  • Learning about the slick change allowing non-spouse beneficiaries to received inherited IRAs.
  • Discussing excuses used by taxpayers to seek waiver of the 60-day IRA rollover requirement.
  • And closing with an in-depth discussion on the exceptions to the 10% early withdrawal penalty.

Learning Objectives

  • Recognize key tax changes effective in 2012, affecting IRA and individual retirement taxation.
  • Identify numerous tax issues and provisions impacting your clients' or employer's tax returns.
  • Apply various tax rates and computations to scenarios just like those you see in your office, to better prepare you for the upcoming tax season.

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
A basic understanding of tax preparation.

Advance Preparation
None

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