Webinar Login Information: To access webinar, cut and paste the room passcode and return to homepage pop up.

Transcription

1 Webinar Login Information: To access webinar, cut and paste the room passcode and return to homepage pop up. Churches and Ministries: Understanding Tax Issues and IRS Enforcement Guidelines Webinar Date: December 1, :00-12:00 PM Room Passcode: cmti15 Length: 2 hours = 2 CE credits $ % discount will be applied at registration Field of Study: Tax Law IRS Crs ID: EWTFM- T O Format: CE Webinars Advanced Preparations: None Instructor: Stuart Sobel, EA Churches and ministries / religious organizations are different in the eyes of the Internal Revenue Service. There are differences in the formation of the organization, annual reporting, and IRS examination techniques. This class provides in- depth coverage of a myriad of issues that distinguish the types of entities. It also provides guidance regarding the required and permissible actions of all of the entities. The following topics are discussed in detail. Proper procedures for forming a church, ministry, or other religious organization Cost saving benefits of obtaining a group ruling Guidelines for establishing an organization with programs in a foreign country Analysis of proper preparation techniques for the challenging IRS application for tax- exempt status The 14 factor the test IRS uses to determine whether or not an organization is a church Permissible and non- permissible political activities including lobbying and partisan politics Impact of excess benefit transactions and the resulting large penalties Unrelated business income taxable and nontaxable income situations Ministers tax elections and parsonage allowances IRS examinations of churches Learning Objectives Upon successful completion of this course, participants will be able to

2 Recognize the differences between a church and other types of religious organizations Avoid unrelated business income tax or excess benefit transactions Grow an effective new religious organization through effective organization development and tax planning Maintain compliance with ongoing reporting of nonprofit activities Cancellation of Debt Income Webinar Date: December 8, :00-3:00 PM Room Passcode: codi15 Course Description The American economy is hurting and taxpayers are suffering. People are walking away from their homes and credit card debt. When creditors write off a debt, they are required by law to issue the taxpayer/debtor a Form C, Cancellation of Debt. According to Internal Revenue Code section 61, income is taxable from whatever source it is derived. It is unfortunate that many taxpayers and their representatives are unacquainted with IRC section 108 which excludes many of these discharges or cancellations of debt from taxable income. If their discharges or cancellations of debt are properly handled when their returns are filed (or even later), taxpayers can avoid paying tax at a time when they are least able to afford making such payments This is a confusing area of the tax law, and many tax preparers are unaware of the IRS relief provisions that are available. Often it is not too late to ask the IRS for abatement or refund even if the normal statute of limitations has expired. Because this course focuses on an area that affects thousands of taxpayers, this class is a must for every practitioner who wants to avoid the rampant mistakes that are occurring in the application of this area of the law. Major topics include: Overview of code section 108 Discussion of write- offs, foreclosures, short sales, and other discharges of debt Preparation of Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness Correcting Form 990 errors Bankruptcy update discharging IRS debt through proper inclusion in a bankruptcy estate IRS audit reconsideration process requesting abatements of assessed tax without an IRS appeal Exclusion for discharge of a mortgage on a personal residence Tools for researching the Internal Revenue Manual Learning Objectives Know how to determine if a taxpayer is insolvent under IRS definitions Understand how to prepare Form 982 and request audit reconsideration Determine actions necessary to negate erroneous information reporting by creditors Length: 2 Hours = 2 CE Credits $ % discount will be applied at registration Format: CE Webinars Instructional Method: Group; Internet Based Field Of Study: Tax Law

3 IRS Crs ID: EWTFM- T O Advanced Preparations: None Instructor: Stuart Sobel, EA Federal Tax Update: 2015 Part 12 - Same Sex Marriage Issues Webinar Date: December 09, :00-10:00AM Room Passcode: ftussmi This course is a part 12 of a 16 part federal tax update. This course covers the changes in Same sex Marriage as it applies in Provided they are no more changes to this subject matter, what we discuss today will become permanent for future years as was DOMA before it was repealed. This courses is for the tax period covering 2015, and filed in During this course we will discuss the repeal of DOMA, and the effects this has had on taxes and the country in general, regardless of your personal opinion of this matter we all need to be able to represent our clients in a non- bias and informative manor. Topics Covered: Sates Permitting Same Sex Marriage Windsor Case "The Facts" Effects of the Ruling Estate & Gift Planning Issues Financial Planning Issues Income Tax Issues Registered Domestic Partners / Filing Status Asset Protection planning Domicile Planning Who Should Attend: CPA's, EA's, Tax Attorney's, Tax Preparers Identify how this changes estate and gift planning issues Define Domicile Identify Social Security Benefits CPE Hours: 1 $ % discount will be applied at registration Format: CE Webinar Instructional Method: Group Internet Based Field of Study: Federal Tax Update IRS Crs ID: EWTFM- U O

4 Advanced Preparation: None Author/ Presenter: Arthur Werner, J Taxation and Major Immigration Issues of Resident and Nonresident Aliens Webinar Date: December 11, :00-12:00 PM Room Passcode: tiirna Length: 2 Hours = 2 CE Credits $ % discount will be applied at registration NASBA Category: Tax Law Advanced Preparations: None Format: CE Webinars IRS Crs ID: EWTFM- T O Author/ Presenter: Stuart Sobel, EA The United States has many classifications of people living within its boundaries. Terms like resident aliens, nonresident aliens, dual- status aliens, expatriates, visas, special immigrants, and undocumented aliens are not merely confusing. They also have a significant impact on the filing of Forms 1040 and 1040NR. This unique class will discuss not only the preparation of the various tax forms, but it will also provide an improved understanding of the concepts of U.S. immigration and its impact on tax compliance. Topics Covered: Classification of taxpayers for tax purposes U.S. and foreign Coming to America o Immigration 2013 update o Immigrant visas overview of types o Immigration application process o Impact of the Dream Act Green card test Substantial presence test Closer connection to foreign country test Form 1040NR o Who must file? o Election to be taxed as a resident alien o How to claim refunds o Dual- status aliens o How to report income on Form 1040NR o Election to treat income as effectively connected with a U.S. trade or business o Recent changes in 1040NR filing Withholding and Social Security tax issues

5 Recognize the difference between a U.S. citizen, resident alien, nonresident alien, and a dual- status alien Secure a basic knowledge of U.S. immigration law, visas, and other nontax issues affecting the tax liability of noncitizens residing in the United States Understand the filing requirements for Form 1040NR Be able to explain tax planning tools to clients currently residing in the United St Federal Tax Update: 2015 Debt Cancellation and Foreclosure Issues Webinar Date: December 14, :00-2:00 PM Room Passcode: ftudebt This course is for the tax period covering 2015, and filed in During this course we will discuss; Insolvency, $2,000,000 Home Acquisition Debt Forgiveness Act (extended through 12/31/2017), Debt Relief Steps, The Helping Families Save Their Homes Act of 2009, Co- Owned Real Property, Registered Domestic Partners, Educational issues, Foreclosure Issues, Debt Relief Steps, Foreclosure Legislation, Clergy, Nonresident & Resident Status. Who Should Attend: CPA's, EA's, Tax Attorney's, Tax Preparers Define Insolvency List the Different types of Qualified Plans Identify the steps for Debt forgiveness Length: 1 hour = 1 CE Credit $ % discount will be applied at registration Format: CE Webinar Instructional Method: Group Internet Based Field of Study: Federal Tax Update IRS Crs ID: EWTFM- U O Advanced Preparation: None Author/ Presenter: Arthur Werner, JD

6 Federal Tax Update: 2014 Deductions Part 1 & 2 Webinar Date: December 14, :00-4:00 PM Room Passcode: ftuded15 This course is for the tax period covering 2014, and filed in During this course we will discuss; Standard Deduction The Pease Limitations Deductible / Non- Deductible Medical Expenses Long Term Care Insurance Sales tax Deduction AGI Threshold for Medical Expenses Home Mortgage Debt Limit Home Mortgage Interest Deductible What Is A Qualified Residence What is qualified Debt What is the Debt Limit Tax Free IRA to Charity Contributions Charitable Contributions Rules Limitations Cash Non- Cash Rules Appraisals Casualty and Theft Losses Gambling Loss Issues Miscellaneous Deductions Tier I (Not Subject to 2% AGI) Tier II (Subject to 2% AGI) Who Should Attend: CPA's, EA's, Tax Attorney's, Tax Preparers Familiarize yourself with the standard deductions List some of the common Deductible Medical Expenses List some of the common NON- Deductible Medical Expenses What is a Qualified Residence What is a Qualified Debt What is the Home Mortgage Debt Limit

7 Length: 2 Hours = 2 CE Credits $ % discount will be applied at registration Format: Webinar Instructional Method: Group Internet Based Field of Study: Tax IRS Crs ID: EWTFM- U O & EWTFM- U O Advanced Preparation: None Author/ Presenter: Arthur Werner, JD