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Top Federal Tax Issues for 2022 CPE Course: Module 3 (Currently Unavailable)

Author: Robert K Minniti, Klaralee R. Charlton, Greg White

CPE Credit:  8 hours for CPAs
8 hours Federal Tax Related for EAs and OTRPs
8 hours Federal Tax Law for CTEC

Wolters Kluwer's Top Federal Tax Issues Course identifies those recent events that have developed into the current “hot” issues of the day. These tax issues have been selected as particularly relevant to tax practice in 2022. They have been selected not only because of their impact on return preparation during the 2022 tax season, but also because of the important role they play in developing effective tax strategies for 2022 and beyond.

This module reviews cryptocurrency and taxes, provides an estate and financial planning update as well as a mid-year tax update.

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 2021

Designed For
CPAs and Tax Professionals.

Topics Covered

  • What is Virtual Currency?
  • Virtual Currency Frauds
  • Virtual Currency Wallets
  • Virtual Currencies and Taxes
  • Common Questions About Cryptocurrency
  • Legislative Developments
  • Case Law Opinions
  • Treasury Releases
  • Client Planning Opportunities
  • Administrative Releases and Case Law
  • Consolidated Appropriations Act (CAA)
  • American Rescue Plan Act
  • 2021 Employee Retention Credit (ERC)
  • Relationship Between PPP Forgiveness and ERC
  • IRS Practice and Procedure
  • Increased LLC Audits
  • Recovering EIPs from Deceased Taxpayers

Learning Objectives

  • Describe cryptocurrency
  • Identify the tax implications of using cryptocurrency
  • Recognize characteristics of blockchain technology
  • Recognize which federal agencies want to regulate initial coin offerings
  • Differentiate which type of virtual currency wallet is the safest from online hacking
  • Recognize how the IRS requires virtual currencies to be reported
  • Summarize legislative developments affecting clients' estate and financial planning goals
  • Recognize and analyze the potential tax impacts related to revenue rulings and case law decisions affecting estate tax and fiduciary income tax
  • Recommend estate and financial planning ideas for clients looking to reduce tax liability while achieving estate planning goals
  • Identify employers who qualify for the employee retention credit (ERC)
  • Recognize how to utilize strategies for maximizing Paycheck Protection Program (PPP) loan forgiveness
  • Identify and apply tax rules from the Consolidated Appropriations Act (CAA) and the American Rescue Plan Act (ARPA)

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (8 hours)

Program Prerequisites
None

Advance Preparation
None

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