Topics covered: Latest developments in tax reform and legislative activity;
Regulatory developments from the IRS;
Rule changes, court decisions and other developments that will affect 2017 returns.
Upon completing this course, you should be able to:
Explain the latest developments in individual taxation for 2017
Identify Donald Trump's post-election proposed tax rate for corporate repatriation tax;
Differentiate tax regulations removing the 10% of AGI limitation with respect to casualty losses;
Recognize the factors included in the "eight factor test to establish a loan";
Identify which rules related to the Form 1099-C Cancellation of debt was removed for info returns filed after 2016;
Identify acceptable methods for allocating between land and buildings;
Differentiate IRC Sections requirements with respect to like-kind exchanges;
Recognize cases related to real estate active participation involved a taxpayer which successfully defended their position as a real estate professional;
Identify forms during 2011-2016 companies use for tax overpayments to the IRS
Identify the annual contribution limit to a Roth IRA in 2017 for individuals age 50 and older;
Differentiate correct statements with respect to the Transfer Tax Legislative Outlook;
Identify the projected estate and gift tax basic exclusion amount for 2018;
Recognize hot issue on the IRS's radar screen;
Identify the qualified hurricane distributions that may be made from any IRA or retirement account;
Describe the percentage the AGI Floor for seniors with respect to medical expenses is set to increase to;
Identify when 2017 returns in 2018 filing season will not be accepted as an electronically filed returns;
Recognize the type of exchanges the IRS Disaster relief allows extra time to complete them for FL or GA individuals;
Identify the new reporting required forms with respect to tax exempt obligations acquired after 2016
Describe income levels identifying the "Super Rich" for 2017;
Identify the annual contribution limit to a traditional IRA in 2016 for those individuals younger than 50 years old;
Identify a disqualified person with respect to prohibited transactions;
Differentiate statutes based on the transfer tax legislative outlook standing to lose revenue
Identify the annual gift tax exemption for 2017;
Differentiate cases resulting in the taxpayer not being able to use the Section 529 five year forward averaging;
Recognize concepts relating to the situation where a surviving spouse may use a deceased spouse's unused exclusion amount with respect to the estate tax;
Identify which form with respect to the discharge of estate tax liens was revised by the IRS.
$ 36.00
Course is unavailable for purchase.
NASBA Field of Study
Taxes
Level
Bradley Burnett
CPE Credits
4.0
Prerequisites
Basic understanding of federal income taxation concepts.
Last Updated
05/04/2018
11960
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