2022 Mid-Year Tax Update (Sold Out)

Author: Greg White

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