Recent Tax Developments (May-June 2019)

Author: Barbara Weltman, Sidney Kess

CPE Credit:  1 hour for CPAs
1 hour Federal Tax Law Updates for EAs and OTRPs
1 hour Federal Tax Updates for CTEC

This course will cover recent developments from the IRS, the courts, and other authorities. Individual and business tax updates will be covered as well as developments affecting retirement plans and IRAs. In addition, the course reviews key filing dates and other reminders not to be overlooked at this time of the year.

Publication Date: April 2019

Designed For
Tax

Topics Covered

  • Limitation on the itemized deduction for state and local taxes
  • Housing allowance for clergy exclusion
  • Premium tax credit for health care coverage
  • Protection for inherited IRAs and bankruptcies
  • Charitable contribution deductions
  • Transfers of property pursuant to a divorce
  • Bonus depreciation
  • Hobby loss
  • Notifying the IRS of a change of address
  • Fees for obtaining a PTIN
  • Penalties for underpaying estimated taxes
  • Reporting a partner's capital account
  • IRS top dozen tax scams
  • IRS interest rates for overpayments and underpayments
  • Deadline for filing Form 5500

Learning Objectives

  • Explain the interaction of tax refunds and the SALT cap
  • Discuss the safe harbor for depreciation in light of 100% bonus depreciation
  • List the relief related to certain reporting requirements for partnerships and S corporations

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (1 hour)

Program Prerequisites
Basic understanding of Federal Tax Law.

Advance Preparation
None

Registration Options
Quantity
Fees
Regular Fee $44

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