This course covers exactly what you need to know to prepare 2023 tax returns.
Tune up = to adjust an engine or mechanism to operate at peak efficiency
(Oxford Online Dictionary)
What are the exact recent tax law changes which impact the preparation of 2023 tax returns? There are plenty affecting Forms 1040 and business returns. This course dives into 2023 law changes (and 2024 law changes relating to 2023) and tunes you up to make you a well operating machine for tax season.
Topics Covered
- In this all-new, built-from-scratch 2-hour course, we'll focus on:
- Impacts of recent legislation (SECURE 2.0, Con App '23, etc.) on 2023 returns
- Changes to IRS Forms that may reach out to bite you
- All-new electric vehicle and green energy credits affecting 2023 returns
- Major new changes to IRS virtual currency question — What we all must know
- Choices, choices, choices re: timing of cost recovery (bonus, §179) and fresh new thought as to implications
- Timing, timing, timing: Employee retention credit interaction with income tax returns
- Inflation adjusted amounts for everything under the sun
- Late breaking new guidance: Protecting statutes of limitations for refund claims
- TCJA expirations
- Child-related tax breaks — Follow the bouncing ball
- Amended return mania: The dangerous impact on income tax returns of ERC credit claims
- SALT workaround statutes continue their day in the sun — Sort of
- SECURE 2.0 changes immediately affecting income tax returns
Learning Objectives
- To prepare the tax preparer and planner for a successful launch of tax season (preparing 2023 returns in 2024)
Level
Update
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (2 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.