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
Instructors
Robert K Minniti
DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.
Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.
He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for a variety of providers and CPA Societies.
Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.
Klaralee R. Charlton
Klaralee Charlton is a Partner at 3i Law in Denver, Colorado. She practices fiduciary tax, estate administration, and business transactional law. As part of her practice, she guides clients through the process of administering a loved one’s estate including the collection, valuation, management and transfer of assets including financial accounts, real estate, and business interests with a focus on minimizing estate and income tax liability. Klaralee also works closely with trustees of ongoing trusts to ensure compliance and prepares clients’ fiduciary income tax returns annually.
Klaralee has written and lectured on topics including estate and gift tax, fiduciary income tax reporting and U.S. regulations governing the valuation of small family businesses. She is an active member of the Colorado Bar Association, Tax Section and Adjunct Profession at the University of Denver, Graduate Tax Program.
She earned her J.D. in 2011 from the University of Utah, S.J. Quinney College of Law, her LL.M. in Tax Law from the University of Denver in 2013, and her B.A. in political science in 2009 from Bryn Mawr College. She is admitted to practice in both Colorado and Montana.
Greg White
Greg White, CPA, taught for 14 years as an adjunct professor for Golden Gate University. He’s admitted to practice before the United States Tax Court. He is a founder and shareholder, in WGN PS in Seattle, WA. He has been named a Top 50 IRS Representation Practitioner in the U.S. by CPA Magazine and has taught for a number of professional organizations. Greg enjoys the technical side of tax, but also likes to have fun in class.