Related Party Issues & Transactions

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Taxes

Course Description

Related party rules are factors that often affect characteristics of income and deductions like the timing or character, and may even prevent losses and deductions completely. This class will provide a basic overview of the assortment of Internal Revenue Code provisions that make up related parties and rules applicable to these issues. Over the years Congress has instituted various measures to safeguard from related party manipulations.

The effect of ascertaining certain taxpayers as “related” may cause a transaction to achieve federal income tax consequences substantially different than a transaction accomplished by parties that are not related. Because the core definition of “related parties,” as found in IRC §267, is frequently cross-referenced by other sections throughout the Internal Revenue Code, an analysis of this definition is paramount in determining the impact of other sections, as well.

Learning Objectives

Upon completing this course, participants will be able to:

  • Analyze IRC § 267
  • Constructive Ownership of Stock under § 318
  • Related Party Loans
  • § 707 and related partnership issues
  • § 1239 gain from depreciable property
  • Matching Expense Deductions
  • Sale or Property at a Loss
  • § 179 Issues
  • Examine Installment sale rules with related parties
  • § 280A rental issues

Course Specifics

Course ID
WC1822298977
Revision Date
September 20, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02075-22-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1810
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

A.J. Reynolds, EA
A.J. Reynolds, EA

A.J. Reynolds, EA has over thirty years of experience encompassing various areas of taxation. Though his practice centers on Individual, Business, and Estate Tax preparation, A.J. focuses a portion of his practice to IRS Representation. As diverse as his specializations, A.J.’s clientele, too, ranges from average workers to Fortune 500 executives. Additionally, A.J volunteers his time with the Iowa Legal Aid’s Managing Attorney assisting in Tax Court cases and assorted income tax issues. A.J. brings his everyday “in the trenches” experience to seminars and webinars for multiple organizations to assist attendees with real issues affecting tax professionals. A.J. started his …

A.J. Reynolds, EA Read More »

Related Party Issues & Transactions

Expert Instructors
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

Related party rules are factors that often affect characteristics of income and deductions like the timing or character, and may even prevent losses and deductions completely. This class will provide a basic overview of the assortment of Internal Revenue Code provisions that make up related parties and rules applicable to these issues. Over the years Congress has instituted various measures to safeguard from related party manipulations.

The effect of ascertaining certain taxpayers as “related” may cause a transaction to achieve federal income tax consequences substantially different than a transaction accomplished by parties that are not related. Because the core definition of “related parties,” as found in IRC §267, is frequently cross-referenced by other sections throughout the Internal Revenue Code, an analysis of this definition is paramount in determining the impact of other sections, as well.

Learning Objectives

Upon completing this course, participants will be able to:

  • Analyze IRC § 267
  • Constructive Ownership of Stock under § 318
  • Related Party Loans
  • § 707 and related partnership issues
  • § 1239 gain from depreciable property
  • Matching Expense Deductions
  • Sale or Property at a Loss
  • § 179 Issues
  • Examine Installment sale rules with related parties
  • § 280A rental issues

Course Specifics

Course ID
WC1822298977
Revision Date
September 20, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02075-22-O
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1810
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

A.J. Reynolds, EA
A.J. Reynolds, EA

A.J. Reynolds, EA has over thirty years of experience encompassing various areas of taxation. Though his practice centers on Individual, Business, and Estate Tax preparation, A.J. focuses a portion of his practice to IRS Representation. As diverse as his specializations, A.J.’s clientele, too, ranges from average workers to Fortune 500 executives. Additionally, A.J volunteers his time with the Iowa Legal Aid’s Managing Attorney assisting in Tax Court cases and assorted income tax issues. A.J. brings his everyday “in the trenches” experience to seminars and webinars for multiple organizations to assist attendees with real issues affecting tax professionals. A.J. started his …

A.J. Reynolds, EA Read More »

Related Party Issues & Transactions

Expert Instructors
CPE CREDITS
1 Credits: Taxes

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

$49.00