Join Bradley Burnett, J.D., LL.M., as he delivers up-to-the-day changes in federal tax law. The course, delivered at a brisk pace and with humor, is designed to meet the needs of the tax planner and return preparer by identifying and responsibly exploring recent important tax developments impacting the upcoming filing season.
This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.
Publication Date: October 2022
Designed For
Return preparers, tax planners, and taxpayers desiring to keep up with late breaking tax developments.
Topics Covered
- 2022 Federal Tax Update for Individuals
- Federal Tax Update for Individuals Highlight Reel
- 2022 Federal Tax Update Individual Income Tax and Form 1040
- Individual Income Tax and Form 1040 Highlight Reel
- Inflation Reduction Act Highlight Reel
- Real Estate Highlight Reel
- Individual Retirement Accounts Highlight Reel
- IRS FAQs
- C Corp Highlight Reel
- S Corporations Highlight Reel
- Disregarded Entities Highlight Reel
- IRS Practice and Procedure Highlight Reel
Learning Objectives
- Recognize new federal tax developments and how they apply to both individuals and businesses
- Identify a return filed after the original return was filed, but, before the return's (extended or original) due date
- Identify how many years the IRS generally has from the filing date (or, if later, due date) of an originally filed return to assess additional tax
- Identify after what year the Child Tax Credit will revert back to TCJA law
- Identify the maximum age for purposes of the Earned Income Tax Credit (EITC) in 2021 only
- Identify how many energy efficiency tax credits for homeowners the Inflation Reduction Act of 2022 provides
- Identify the total annual limit with respect to the new Energy Efficient Home Improvement Credit
- Identify after what year the $10,000 SALT limit is set to expire
- Identify the form used to report certain large gifts or bequests from certain foreign persons
- Recognize the type of violation referenced in the Arizona case that can result in up to 10 years in prison
- Identify the MFJ threshold amount with respect to excess business losses
- Identify the form that should be completed with respect to limitation on business losses
- Identify the 2022 inflation adjusted amount related to the adoption assistance exclusion limit
- Identify the 2022 max employee deferral to a 401(k) (not including catch up)
- Identify the 2022 catch-up contribution limit (i.e., 55 and older) for an HSA
- Identify the tax percent imposed by the Inflation Reduction Act of 2022 on the repurchases of corporate stock
- Identify the type of guarantee that was noted as soon to become a "five alarm fire"
- Identify the form that should be filed with respect to a notice of inconsistent treatment or AAR
- Identify when the IRS first introduced Schedules K-2 and K-3
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Taxes (8 hours)
Program Prerequisites
Basic understanding of federal taxation.
Advance Preparation
None
Instructor
Bradley Burnett
Bradley Burnett, J.D., LL.M., is a practicing tax attorney, licensed in Colorado, with 38 years of tax practice experience. His practice emphasis is on tax planning and tax controversy resolution. Prior to establishing his own law firm in 1990, he practiced tax accounting with national and local CPA firms, worked as a trust officer for a Denver bank, and managed the tax department as partner in a medium-sized Denver law firm. After receiving his undergraduate degree in accounting and law degree (J.D.), he earned a Master of Laws (LL.M.) in Taxation from the University of Denver School of Law Graduate Tax Program.
Mr. Burnett has delivered more than 3,400 presentations on U.S. tax law throughout all 50 states, Washington, D.C., the Bahamas, Italy, Greece, Turkey and Canada. He has authored texts of 45 CPE courses. Mr. Burnett served as adjunct professor at the University of Denver School of Law Graduate Tax Program, where he pioneered an employment tax course and taught IRS practice and procedure. He has appeared on television answering tax questions for call-in viewers of Denver NBC affiliate KUSA Channel 9. Brad received the Illinois Society of CPAs Instructor Excellence Award for teaching in Chicago and five times has been the top rated, most requested instructor for CPA Society annual tax conferences.