Self-Study
1
Overview
Taxes
Basic Tax Knowledge

Course Description

In Gambling and Tax: The Price of Winning, Robert E. McKenzie gives you an in-depth look at how gambling winnings and losses affect taxation. You'll learn which winnings are taxable, which losses are deductible, and who needs to report. Case studies are used throughout the course to illustrate specific Tax Court rulings. The forms on which income is reported are also covered, with instructions on where to input necessary information from various gambling activities.



Instructor

Robert (Bob) E. McKenzie, EA, Esq.

Robert (Bob) E. McKenzie, EA, Esq., is a partner of the law firm of Arnstein & Lehr LLP of Chicago, Illinois, concentrating his practice in representation before the IRS and state tax agencies. He has lectured extensively on the subject of taxation and has made numerous media appearances, including on Dateline NBC and ABC World News Tonight.

Bob has been elected to the American College of Tax Counsel where he serves as secretary/treasurer of its board of regents. Prior to entering private practice, he was employed by the IRS Collection Division in Chicago, Illinois. From 2009–2011, Bob served as a member of the IRS Advisory Council (IRSAC), a group appointed by the IRS Commissioner.

Bob is the author of Representation Before the Collection Division of the IRS as well as the coauthor of Representing the Audited Taxpayer Before the IRS and Representation Before the United States Tax Court.



Course Specifics

Taxes
Sep 7, 2017
Basic Tax Knowledge
SS8152533
44
None


Compliance Information

103220
IRS Provider #: 0MYXB
IRS Course ID: 0MYXB-T-00916-15-S
IRS Federal Tax Law Credits: 1
CTEC Provider #: 2071
CTEC Course ID: 2071-CE-0894
CTEC Federal Tax Law Credits: 1
Qualifies for CA Fraud: No


Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Choose the calculation for the amount of reportable income from a winning wager.
  • Select income against which gambling losses may be offset.
  • Recognize the withholding rate for gambling winnings.
  • Identify the rate by which gross tips were reduced to account for tip sharing in the reconstruction of tip income.
  • Recognize regulations related to wagering tax.


Choose Your Preferred Format


Online Access

Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.

online access
Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

hard copy
Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.

hard copy


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