2022 Federal Tax Update: Business

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Description

2022 Federal Tax Season Update: Business
IRS Program #: X9QQU-U-00920-23-O
CTEC #: 6257-CE-0121
CE: 2 IRS Tax Update credits
Speaker: Michael Miranda, CPA; A.J Reynolds, EA

Tax season always brings new challenges, and this upcoming season will be no exception. Join us for this fast-paced, must-attend two-hour overview on Wednesday and Thursday where you will receive the latest information and guidance that has transpired over the last 12 months affecting your practice encompassing your individual and business clients. 

Recent updates to the K2/K3 and Corporate Transparency Act will be analyzed.

Learning Objectives:

Explore new updates concerning filing Form 1065 Schedules K2/K3.
Examine Final Regulations on the Corporate Transparency Act.
Analysis of Virtual Currency issues and recognize reporting obligations.
Review changes related to Form 1099-K.
Investigate updated rules for SEPP distributions per Notice 2022-6.
Discuss reporting requirements on DSUE, new 5-year rule, and Form 8971.
Evaluate the Inflation Reduction Act.
Assess proposed regulations and Notice 2022-53 regarding changes to inherited retirement accounts and distributions.
Review of other distribution rules for retirement plan and IRAs, including QCDs, RMDs and SECURE Act retirement contribution and distribution changes.
Adoption of a Retirement Plan after year end (SECURE Act §2.01).
Review expiring tax provisions.
Review of post-mortem income planning opportunities using Trusts and Estates.
Review of special taxation issues associated with Trusts and Estates.
Summarize any late breaking extender bills, other tax related legislation, or guidance.
Working Virtually – Protecting Tax Data at Home and at Work.

Contributors

Allan (AJ) Reynolds, EA

A.J. has immense experience in various areas of taxation, which encompasses over 30 years. His practice centers on individual, business, and estate tax preparation. In addition, A.J. specializes in IRS audits, appeals, collections and other tax representations. He speaks for multiple organizations and brings his everyday “in the trenches” experience to assist attendees with real issues affecting tax professionals. A.J. started his tax career with a national CPA firm in San Diego, CA after proudly serving five years in the U.S. Navy.
Michael Miranda, CPA, QKA, AEP

Bringing 46 years of experience with tax consulting, estate planning, and employee benefits to his work as an independent consultant, Michael is the owner of MIRANDA CPA & Consulting LLC in Sioux Falls, SD. His tax practice focuses on corporate, individual, estate and gift, and tax accounting. He also provides employee benefit planning and consultation services for qualified, non-qualified, and health and welfare benefit plans. As a nationally recognized tax speaker, he maintains an active schedule presenting webinars and seminars on tax law, employee benefit planning, and estate planning. Prior to 2017, he spent 27 years with a regional CPA firm and 13 years with a Big 8 accounting firm.

Thank you

Description

Contributors

Allan (AJ) Reynolds, EA

Michael Miranda, CPA, QKA, AEP