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2022 Federal Tax Season Update: Individual
IRS Program #: X9QQU-U-00921-23-O
CTEC #: 6257-CE-0122
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.
- 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.