DESCRIPTION
This module is structured as a conversation on new tax laws to prepare for the upcoming tax season. Tax professionals will be updated on recently enacted tax legislation, as well as current issues arising from recent conversations with clients. Additionally, we will cover several recent tax court cases and review new forms you will need to prepare tax returns for the season.
LEARNING OBJECTIVES
- List the expiring Tax Cuts and Jobs Act (TCJA) tax provisions
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Analyze other tax updates, including the updated guidance on 1099-K reporting
- Examine newly introduced IRS forms, including Form 7217 (Partner’s Report of Property Distributed by a Partnership) and Form 15620 (Section 83(b) Election), and their practical implications for taxpayers.
- Interpret the impact of recent Supreme Court cases and other tax-related cases such as the decision in Soroban Capital Partners LP v. Comm’r of Internal Revenue.
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Define the fundamental provisions of the Corporate Transparency Act, including recent updates.
