Top Federal Tax Issues for 2024 CPE Course: Module 2
Author: Greg White, Susan Harper, Robert K Minniti
| CPE Credit: |
10 hours for CPAs
10 hours Federal Tax Related for EAs and OTRPs
10 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 2024. They have been selected not only because of their impact on return preparation during the 2024 tax season but also because of the important role they play in developing effective tax strategies for 2024 and beyond.
This module provides a 2023 mid-year tax update, reviews the dirty dozen tax scams, provides a cryptocurrency and taxes update, and reviews the Inflation Reduction Act.
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 2023
Topics Covered
- Disability Income
- Using Artificial Intelligence in Tax Practice
- Deductions
- Trusts and Estates
- Accounting Method Changes
- IRS Developments
- Information Reporting
- E-filing of Forms 1099 and W-2
- Social Security and Decision-Making
- Foreign Bank Account Reporting
- The 2022 Dirty Dozen Tax Scams
- New Scams in the 2023 Dirty Dozen
- Recognizing Illegal Tax Avoidance Schemes
- Tips from the IRS on Choosing a Tax Preparer
- Reporting Suspected Abusive Tax Promotions or Preparers
- Tips to Fight Fraud
- Overview of Cryptocurrency
- Bitcoin
- Legal Issues Associated with Virtual Currencies
- Initial Coin Offerings
- Virtual Currencies and Taxes
- The IRS Strategic Operating Plan
- Progress Toward SOP Objectives
Learning Objectives
- Identify important new tax cases
- Recognize how to apply important new IRS guidance
- Identify the impact of new legislation on clients
- Identify the Dirty Dozen tax scams
- Recognize how to educate clients to avoid falling prey to scammers
- Describe the consequences of participating in a tax scam
- Describe cryptocurrency
- Recognize how virtual currencies work
- Identify the tax implications of using cryptocurrency
- Describe the IRS Inflation Reduction Act's transformational opportunities for future tax administration
- Recognize what is true and not true about the $80 billion expenditure
- Identify resources to seamlessly help taxpayers and paid preparers
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (10 hours)
Program Prerequisites
None
Advance Preparation
None
