CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Partnership Audit Rules And Their Impact

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Auditing

Course Description

Starting with returns filed for the 2018 tax year, new rules apply to IRS examinations of partnership income tax returns.  We will review the new procedures, when they benefit taxpayers and when they do not, and planning in light of the rules.  You will learn:

  • Procedures if the partnerships cannot or do not elect out of the rules.
  • Electing out of the rules – how to qualify (and many surprisingly don’t) and how to elect
  • The partnership representative’s surprisingly broad authority and how a partnership agreement (including an operating agreement) might address that person’s duties to the partnership (including LLC)
  • How to navigate the procedures to ensure fairness to all and try to reduce administrative burdens that the rules impose on taxpayers

Learning Objectives

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

  • Identify the new partnership audit rules
  • List issues to consider when drafting partnership sale agreements or operating agreements
  • Identify how to use business entities to save tax on investments

Course Specifics

Course ID
WC19186555
Original Release Date
October 20, 2018
Revision Date
February 26, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Steven B. Gorin Headshot
Steven B. Gorin

Steve is a nationally recognized practitioner in the areas of estate planning and the structuring of privately held businesses. Lawyers, accountants and business owners regularly look to Steve for fresh, highly knowledgeable insights into the best possible tax and estate planning approaches to their transactions. Steve crafts estate plans for individuals, keeping in mind their financial security and desire to save income and estate tax. In his work for businesses, Steve helps owners plan for the eventual sale (to co-owners, employees, or third parties) or transfer (to family members), and provides a legal framework for an orderly transition while strategically …

Steven B. Gorin Read More »

Partnership Audit Rules And Their Impact

Expert Instructors
CPE CREDITS
1 Credits: Auditing

$49.00

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Auditing

Course Description

Starting with returns filed for the 2018 tax year, new rules apply to IRS examinations of partnership income tax returns.  We will review the new procedures, when they benefit taxpayers and when they do not, and planning in light of the rules.  You will learn:

  • Procedures if the partnerships cannot or do not elect out of the rules.
  • Electing out of the rules – how to qualify (and many surprisingly don’t) and how to elect
  • The partnership representative’s surprisingly broad authority and how a partnership agreement (including an operating agreement) might address that person’s duties to the partnership (including LLC)
  • How to navigate the procedures to ensure fairness to all and try to reduce administrative burdens that the rules impose on taxpayers

Learning Objectives

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

  • Identify the new partnership audit rules
  • List issues to consider when drafting partnership sale agreements or operating agreements
  • Identify how to use business entities to save tax on investments

Course Specifics

Course ID
WC19186555
Original Release Date
October 20, 2018
Revision Date
February 26, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Steven B. Gorin Headshot
Steven B. Gorin

Steve is a nationally recognized practitioner in the areas of estate planning and the structuring of privately held businesses. Lawyers, accountants and business owners regularly look to Steve for fresh, highly knowledgeable insights into the best possible tax and estate planning approaches to their transactions. Steve crafts estate plans for individuals, keeping in mind their financial security and desire to save income and estate tax. In his work for businesses, Steve helps owners plan for the eventual sale (to co-owners, employees, or third parties) or transfer (to family members), and provides a legal framework for an orderly transition while strategically …

Steven B. Gorin Read More »

Partnership Audit Rules And Their Impact

Expert Instructors
CPE CREDITS
1 Credits: Auditing

$49.00