2022 Mid-Year Tax Update (Currently Unavailable)
Author: Greg White
| CPE Credit: |
4 hours for CPAs
4 hours Federal Tax Law Updates for EAs and OTRPs
4 hours Federal Tax Updates for CTEC |
Join expert, Greg White, CPA, as he provides a mid-year update on the most recent changes you need to navigate through the maze of tax legislation.
Publication Date: May 2022
Designed For
New and experienced CPA’s who practice in the tax area or who need a better understanding of the tax law for other areas of practice.
Topics Covered
- Gross Income
- Should Form 1099-K Be on Our Checklist for 2022 Tax Year?
- Cryptocurrency
- Other Crypto News
- NFT Artwork Taxation
- Taxes and Inflation
- Business and Investment Deductions
- Bonus Depreciation Changes
- Research Expenditures (§174)
- Cannabis
- Passive Activities: Material Participation
- Rogerson v. Comm'r.
- Real Estate Professional
- Special Rule Married — Real Estate Professionals Only
- Partnerships and S Corps
- CPAR
- Pensions and IRAs
- Itemized Deductions
- Internal Revenue Service
- IRS's Stink-Eye
- IRS Under Siege
- Administrative Procedures Act
- Shot Heard 'Round the World!
- IRS Response → Mayo
- Administrative Procedure Act
- APA Recap
- Credits
- Legislation
- Gift and Estate
- No "Claw Back" Rule
- Decedent Checklist: My List So Far
Learning Objectives
- Identify important new tax cases
- Recognize how to apply important new IRS guidance
- Identify impact of new legislation on clients
- Identify the 2022 above-the-line deduction for educators
- Recognize beginning in what year Form 1099-B will be required for digital assets (including cryptocurrency) for transactions
- Identify the annual inflation rate as of April 2022
- Recognize in what year bonus depreciation begins to phase out
- Identify the number of hurdles that must be cleared to be classified as a real estate professional
- Recognize how CPAR applies in various scenarios
- Identify the number of states that have passed partnership/S Corp entity-level income taxes
- Describe which type of tax arrangement the IRS has been cracking down on
- Identify the average amount of time in 2021 to close IRS appeals cases
- Recognize how APA rules apply
- Identify the number of ways to make the portability election
- Recognize which tax form is used to claim the plug-in credit
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Taxes (4 hours)
Program Prerequisites
Basic understanding of federal taxation concepts.
Advance Preparation
None
