Topics

Tax Alliance Conference 2010

Topics*
*Subject to change.

National Taxpayer Advocate – We are pleased that Nina Olson, the National Taxpayer Advocate, has agreed to speak to us. She will review what her office is doing to help the taxpayer, both in Congress and at the Internal Revenue Service. Nina has represented taxpayers herself so she knows the trials and tribulations the taxpayer sometimes goes through when dealing with the IRS.

Community Property – The laws of Texas can be complex when we try to determine to whom certain property belongs. Does it belong to one spouse or the other or is it community property? This determination makes a difference when deciding how to divide income on a married filing separate return. It also makes a difference when IRS is collecting unpaid taxes. So whether you prepare returns or handle controversy or both, you need to understand the complex community property laws in Texas.

International Taxation – Our clients are on the move! We are seeing more foreign clients earning money in the United States and more of our clients are going overseas to work. We need to be more prepared to successfully manage international tax issues.

Office of Professional Responsibility - Karen Hawkins, the Director of OPR.

Yikes! Foreclosure! Does this mean I have to pay taxes? - With unemployment so high and the economy in a tight spot, foreclosures are on the rise. Will this create taxable income for your clients? It depends. What are the options? Let’s explore the tax consequences of losing your property and properly reporting the results on a tax return.

Ethics Panel – The panel will discuss our ethical obligations when dealing with the IRS and what we should do when the IRS makes a mistake.

Update on IRS – Examination and Collection – Collection: Discussion of strategic plans and economic factors. Specific topics will include the trust fund recovery penalty, pyramiding, liens and timely case actions. Examination: Discussion of the Tax Gap and Examination Plan for FT 1020. Specific topics will include Examination areas of emphasis, IRS actions to address the tax gap and examiner case expectations.

Criminal Tax - Criminal Investigation is the unit of the IRS that develops fraud cases. Bridgett Marchetta, the Assistant Special Agent in Charge in Dallas will cover CI’s mission and programs to carry out that mission.

Update – Ira Shepard is a professor of tax at the University of Houston Law Center. He will review important tax changes and highlight interesting cases.

Hobby & Business Provisions: Is It a Hobby or a Business? Based upon 2007 Internal Revenue Service (IRS) estimates, improper hobby loss expense deductions have accounted for a significant portion of overstated adjustments, exemptions, deductions and tax credits. These deductions result in approximately $30 billion in unpaid taxes per year, which has prompted the IRS to heavily pursue “suspected hobby loss” violators. This presentation will explore and discuss the techniques and procedures utilized by the IRS regarding: (1) How they identify potential taxpayers who possibly do not qualify for a claimed loss or business loss and therefore should have their deduction converted to or classified as a “hobby loss, and (2) How the IRS implements procedures to pursue taxpayers and build cases on behalf of the Government concerning “hobby loss” issues. In conclusion, tax practitioners who intend or expect to represent taxpayers involved in hobby loss issues should thoroughly familiarize themself with the current procedures employed by the IRS regarding such matters and should be prepared to fully develop all case matters with respect to any “hobby loss” matter.

Going to the U. S. Tax Court – We are once again favored with a visit from our friend, U.S. Tax Court Judge Juan Vasquez. Judge Vasquez and a distinguished panel including Audrey Morris, Associate Area Counsel for the IRS in the Small Business/Self-Employed area, will discuss the life of a case going from IRS to the U. S. Tax Court.

Representing the Non-filer… Is It Civil or Criminal? – One of the recurring problems all tax professionals encounter is what to do with a non-filer. Since it is criminal not to file a tax return when basic requirements of income are met, the tax preparer can feel very uncomfortable when confronted with a client who has not filed. This presentation will focus on how to distinguish a criminal case from civil cases, what signs to look for, and after making that determination, what steps should be taken.

Treasury Inspector General For Tax Administration will be discussed by the Assistant Special Agent In Charge for the Dallas Area. Our attendees always give high marks for the information received from this branch of the IRS.

Bootcamp

Representation:

How to Handle a CP 2000 Based on a Bad W-2/1099 – The IRS proposes additional assessments based on their matching program. Matching the income information returns such as 1099’s and W-2’s to the income reported on the tax return. How do you handle a proposed assessment when the taxpayer’s social security number is used by someone else?

Collection Issues With LLC’s – How does IRS Collection handle it when an LLC owes taxes? Is collection based on the check the box method? If the income and expenses are reported on a Schedule C, is collection of the LLC’s delinquent payroll taxes handled as if they were a sole proprietorship? What if the income and expenses are reported as a partnership or a corporation? Richard Christian, a supervisory group manager, will explain how collection works an LLC case.

What is the Trust Fund Recovery Penalty? When a taxpayer can not pay payroll taxes, what can the IRS do? Does it make any difference if the taxpayer is a corporation? How do they decide who must pay?

Mock Trust Fund Penalty Interview – After learning about the trust fund recovery penalty, we will have a mock interview. The revenue officer will investigate the tax and determine who is responsible for payment.

Defending the Trust Fund Recovery Penalty – After the mock interview, we will discuss how to defend a person against the proposed trust fund recovery penalty. A panel consisting of tax attorneys, enrolled agents, IRS and U. S. Justice Department attorneys will discuss how to best defend the client.

Preparation

More On The Texas Margin Tax – Last year attorney Jimmy Martens made an hour long presentation on the Texas Margin Tax and attendees said “MORE, MORE!” “Too little time!” So we have brought Jimmy Martens back and given him twice the time to discuss the Texas Margin Tax.

Fringe Benefit Tax Strategies for Business Entities - Saving money and employee retention has never been more important - fringe benefit planning can save thousand of dollars for businesses as well as the ability to give employees a tax free raise!

Overview of Retirement Plans – Even if you are not a financial planner, your client expects you to know about retirement plans and what options they are qualified to use to maximize their savings and reduce their taxes.