Bankruptcy Questions Answered!

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Taxes

Course Description

Bankruptcy has major implications for tax returns and the amount of money owed to the Internal Revenue Service. When preparing taxes for individuals in bankruptcy, many layers of complexity are added to an already challenging process. This is made all the more difficult by annual changes to handing bankruptcy in tax returns. Be ready to anticipate tax impacts in a variety of scenarios with this new class from Robert E. McKenzie.

Learning Objectives

Upon completing this course, participants will understand:

  • Basics and types of bankruptcy
  • Taxation of the individual debtors
  • Taxation of bankruptcy estates
  • Income from discharge of indebtedness
  • Special rules for taxation of individuals in chapter 7 and 11
  • Filing obligations
  • Coordination of exclusions
  • Reduction of debtor’s tax attributes
  • Practice Tip- attributes or basis?

Course Specifics

Course ID
WC1822279389
Revision Date
February 24, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01986-22-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1723
CTEC Federal Tax Law Credits: 1

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration 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.

Course Instructor

Robert (Bob) E. McKenzie Headshot
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 contributions, 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 …

Robert (Bob) E. McKenzie, EA, Esq. Read More »

Bankruptcy Questions Answered!

CPE CREDITS
1 Credits: Taxes

$49.00


Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET.

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Taxes

Course Description

Bankruptcy has major implications for tax returns and the amount of money owed to the Internal Revenue Service. When preparing taxes for individuals in bankruptcy, many layers of complexity are added to an already challenging process. This is made all the more difficult by annual changes to handing bankruptcy in tax returns. Be ready to anticipate tax impacts in a variety of scenarios with this new class from Robert E. McKenzie.

Learning Objectives

Upon completing this course, participants will understand:

  • Basics and types of bankruptcy
  • Taxation of the individual debtors
  • Taxation of bankruptcy estates
  • Income from discharge of indebtedness
  • Special rules for taxation of individuals in chapter 7 and 11
  • Filing obligations
  • Coordination of exclusions
  • Reduction of debtor’s tax attributes
  • Practice Tip- attributes or basis?

Course Specifics

Course ID
WC1822279389
Revision Date
February 24, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01986-22-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1723
CTEC Federal Tax Law Credits: 1

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration 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.

Course Instructor

Robert (Bob) E. McKenzie Headshot
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 contributions, 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 …

Robert (Bob) E. McKenzie, EA, Esq. Read More »

Bankruptcy Questions Answered!

CPE CREDITS
1 Credits: Taxes

Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET.

$49.00