June 4, 2019 - Registration begins at 1:00 PM.
2:00 - 5:50 PM (Wine and Cheese Reception from 6:00 to 7:30)
Trust Fund Payroll Issues, Criminal and Civil (Tom Rhodus, Richard Christian) As tax professionals, we need to be able to advise our clients with employees when they do not pay their payroll taxes. The first part of the presentation will cover the basics of the Trust Fund Recovery Penalty, both IRC 6672 and 7202. They will include:
The Taxpayer Interview: Richard Christian and Tom Rhodus will demonstrate via mock interviews various examples of cases we might see in real life. After each skit, they will have a substantive discussion, then skit, then discussion to include:
CI Comes A Callin' (Tom Rhodus & CI Special Agent) - There will be discussions regarding Criminal Investigation's determination whether to accept a referral for criminal prosecution when a taxpayer fails to deposit payroll taxes. They will discuss what the speak agent is looking for and what the practitioners can do to limit criminal exposure.
Panel Discussion (Larry Jones, Tom Rhodus, Richard Christian, Criminal Investigation Special Agent ) The panel will address the representative's tough spot when a corporation owes payroll taxes, wants an installment agreement but does not want to complete an IRS interview. They will also discuss a series of hypothetical scenarios as well as answering attendees questions.
The Unique Tax Issues Facing Clergy, Churches and Ministries (Kathy Mannering, EA) - This topic will include preparation of an Ordained Minister's tax return who has a salary and housing allowance. Kathy will also touch on key legal challenges to the clergy housing allowance that is currently in the courts.
How To Fix A Broken Business Entity (John Bovard, CPA) - Sometimes our clients present a business or personal issue but when you begin preparing the return, you find out that the client's understanding is incorrect and the entity has been treated incorrectly. John will walk us through several scenarios with steps that can be taken to "fix" the problems. John will also address how we can protect ourselves from future misunderstandings.
Selling and Gifting the Closely-held Business (Dan Baucum) - A lively discussion of 5 common issues to look out for in selling and gifting ownership in a closely-held business to family or unrelated buyers.
Wednesday, June 5, 2019 - 8:00 AM - 5:05 PM (Registration begins at 7:00 AM)
Recent Developments in Federal Income Taxation (Bruce McGovern) - This session will review the most significant developments in federal income taxation during the last twelve months that affect individuals, corporations, partnerships, and tax-exempt organizations.
The Tax Court and The Life of A Tax Court Case (The Honorable Elizabeth Copeland) - This presentation will discuss the history of the Untied States Tax Court and what happens once a taxpayer files a petition with the Court to review and decide their tax issue.
Dealing With Individuals With Foreign Tax Issues (Marc Enzi) - Handling common tax situations involving people from foreign countries and will include frequently asked questions about international individual tax matters.
Addressing Conflict of Interest In Today's Practice? (Panel: Moderated by Caroline Ciraola, including John Bovard, Audrey Morris, Jeanette Ingram and Steve Carter) - Tax practices are fertile ground for conflicts of interest. Whether you are representing a married couple, business partners, related organizations, vendors and clients, responsible persons, or any client who may have a conflict with a former client, it is critical that you identify potential and actual conflicts of interest at the outset of an engagement and that you continue to monitor the situation throughout your representation. Failure to properly navigate these complex and often troubled waters can pose enormous risks to tax professionals and their firms, including disqualification, disgorgement of fees, loss of clients, damage to reputation and professional discipline. This panel will discuss the ethical rules of the road for accountants and attorneys and steps each firm should take to establish a culture of compliance.
Blockchain, Bitcoin and Cryptocurrency - Taxation and Regulation (Jason Freeman) - This presentation will provide a user-friendly overview of blockchain technology and cryptocurrencies. Attendees will learn how the technology impacts accountants, tax professionals, and their clients and will learn about important tax and other regulatory issues. Learning Objectives: 1) Gain an understanding of blockchain technology. 2) Learn the relevant federal tax principles and rules. 3) Learn to identify relevant reporting and regulatory issues.
When Apples Don’t Equal Apples: Divorce, Division of Marital Assets, and Tax Consequences (Michelle May O'Neil) - Discussion of Texas marital property law and the role that tax consequences play in the division of assets upon divorce.
June 6, 2019 - (8:00 AM to 4:05 PM)
The Tribulations of Case Advocacy: The problems Taxpayer Advocate Service (TAS) encounters while being the voice of the taxpayer at the IRS. (Rhonda Kirby) - The objective will be to describe TAS, overall, and provides real world examples of how we utilize our local offices and systemic advocacy to successfully advocate for TPs facing tax controversies.
Ethics and the Obligation to Report Tax Evasion* (Frank Agostino) - This program will discuss the various ethical obligations faced by practitioners and judges to report tax evasion when presented to them. The program will discuss the specific ethical rules and New Jersey's Sheridan Rule, and the obligations thereunder.
Examination Updates to International Penalties and Forms (Frank Agostino) - This program will discuss current IRS enforcement areas related to International Reporting and the penalties that may result. Topics will include updates and strategies for practitioners representing clients in international examinations.
Choice of Entity Considerations After Tax Reform (Clint Davis) - Certain entities may now have a built-in advantage compared to other entities after the Tax Cuts and Jobs Act. Explore tax saving ideas and hybrid structures to address multiple tax issues.
Section 199(A) - Qualified Business Income Deduction (Pat Sykes) - The Tax Cut and Jobs Act of 2017 ushered in major tax changes for taxpayers. Section 199(A) also known as the “Qualified Business Income Deduction or 20% Pass-Through,” offers qualifying taxpayers a valuable reduction to taxable income. As with any tax reform, the amount of the new income reduction is contingent on several things – taxable income; type of business – specified or non- specified; QBI - qualified business income; wages paid; and UBIA-unadjusted basis of business assets.
Join us as we take a look at how it worked in 2018, talk about the impact for the taxpayer, and possible strategies going forward.
"I. O. U." IRS (Patti Logan) - Even when a tax practitioner doesn't normally work collection cases, occasionally a client ends up owing the IRS so we need to know what to do. This topic will cover some tips and tricks we may use to help our clients with a workable solution to the taxes they owe.
IRS Enforcement Update: Current State of IRS Audits and Investigations (Josh Ungerman) - Josh will review hot topics in IRS enforcement. Despite or because of IRS budget cuts, they are working cases more thoroughly. Josh will focus on the current IRS practices in examination, criminal investigation, appeals and collection.
*Qualifies as Ethics CPE for EAs
Learning Objectives: To further the attendees knowledge of Federal taxation and practice and procedures before the Internal Revenue Service.
No prerequisites required. Intermediate level education.
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Please note that topics and schedules are subject to change. Check back for new topics.