2021 Individual Tax Update

6 Credits: Taxes
Event Date: October 18, 2021 7:30 am


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2021 Individual Tax Update

Course Level
CPE Credits

6 Credits: Taxes
Event Date: October 18, 2021 7:30 am

Course Description

Combining the real-life experience of a practicing CPA with essential down-to-earth tax materials in a high-tech format, this powerful presentation will enable participants to quickly understand and implement individual tax reform changes and review IRS and Court actions affecting 2019 tax returns. You’ll receive the most complete and up-to-date reference manual, written by renowned tax experts, Vern Hoven and Sharon Kreider. The digital PDF manual is hyperlinked to the Internal Revenue Code, tax court decisions, and other primary authorities, making it extremely convenient. Join us as our world-class tax instructors share cutting-edge tax planning strategies in a high energy,

often humorous, presentation style using real-life experiences, which make complicated individual tax topics easily understandable.


Highlights include:

  • Timing and impact of new key provisions in the CARES Act
  • IRA transfers to charity complications because of SECURE
  • Key individual provisions including standard and itemized deduction and tax credit updates, and revisions to the 2020 Form 1040
  • Review of important real estate issues including foreclosure
  • Requirements for various tax credits and rebate reconciliation applicable to individual taxpayers.
  • Recent cases and rulings highlighting IRS audit issues on individual returns
  • IRA and retirement plan issues updated for SECURE
  • What are the 50 most important individual Tax Cuts and Jobs Act 2020 changes?
  • Learn over 50 new individual tax planning ideas after tax reform!
  • Will each of your clients pay more, or less, taxes after tax reform?
  • When will the loss of personal exemptions increase your client’s taxes?
  • Will the family tax credit make up for the loss of the personal exemptions?
  • Will the limit on the SALT deduction mean fewer of your clients will itemize?
  • When will the changes to the mortgage interest deduction hurt homeowners?
  • What do homeowners do after the repeal of the home equity debt?
  • When is it still possible to deduct interest on borrowing from one’s home equity?
  • How will your clients avoid the loss of his or her unreimbursed employee business expenses (Form 2106)? Help your client prepare an action plan!
  • Who else loses with the loss of the 2% miscellaneous itemized deductions?
  • When will AMT affect your clients?
  • How does the change to tax-free exchanges affect your clients? Cost seg. studies are more important now! Learn why.
  • Are investors hurt by tax reform? Not with proper planning!
  • Are retirees hurt by tax reform? Probably.
  • Are real estate rentals helped by tax reform? Some are!
  • What do your divorcing clients, and divorce attorneys, do in 2020?
  • Learn the latest updates on ACA and ‘Repeal and Replace’ developments!
  • How will the 20% capital gains tax +3.8% NII tax issues impact your clients?
  • What are the latest charity audit issues?
  • What are the credit rule changes?
  • Is FBAR and FATCA reporting still important? You bet!
  • What are the latest tax issues for online rentals?
  • How does the IRS clarification on who is and isn’t a real estate professional impact your clients?
  • What are the latest estate and gift thresholds? Is estate planning still necessary?
  • Your materials will include comprehensive examples and client letters on various parts of tax reform!
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Learning Objectives

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

  • Identify key provisions of new legislation including The Cares Act, TCJA and other issuances.
  • Identify key provisions of TCJA including implications of underpayments, form changes, standard and itemized deduction changes, tax credits, and other aspects of the 1040.
  • Identify requirements for various tax credits applicable to individual taxpayers.
  • Identify relevant provisions of ACA applicable to taxpayers in the current year.
  • Learn the various individual tax reform provisions.
  • Discuss notices and regulations from the IRS to implement tax reform.
  • Explain to your clients how tax reform impacts their tax bill.
  • Enumerate planning ideas for individual tax reform.
  • Accurately prepare returns for individual taxpayers considering tax reform.
  • Convey details of the Affordable Care Act (ACA) and current developments in ‘Repeal and Replace.’
  • Understand and apply the various IRA and Roth IRA rules to properly utilize these vehicles for retirement and tax planning.
  • Identify tax issues and apply regulations related to real estate and investment property.
  • Identify top estate planning ideas for clients with small estates.
  • Apply the many other individual tax changes applicable for 2020 returns (these will be updated throughout the year).
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Course Specifics

Course ID


Advanced Preparation


Compliance Information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-01800-21-I
IRS Federal Tax Update Credits: 6
CFP Provider Number: 3199
CFP Course Number: 292833
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1590
CTEC Federal Tax Update Credits: 6

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at

Meet The Experts

Alice Orzechowski Headshot

Alice Orzechowski, CPA, CMA, EA, was born and raised in Washington, DC. She holds BS degrees in Economics and Accounting from the University of Maryland, and an MS in Administration and Management from Hood College. She is licensed as a Certified Public Accountant, Certified Management Accountant, and Enrolled Agent. Alice has provided advice on tax-related matters in The Washington Post, The Frederick News Post, in various AARP publications, and on Wall Street Journal Radio, CNN, and Today’s Woman Television and is a national speaker on tax topics. Alice earned the CPA accreditation in 1976, and over the course of her …

Alice Orzechowski, CPA CMA EA Read More »

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