ACPEN Signature: 2015 Annual Tax Update
Total Credits: 8 including 8 Taxes - Technical
- Average Rating:
- 164
- Categories:
- ACPEN Signature | ACPEN Tax Institute | IRS Approved | Tax
- Faculty:
- Linda Bradley McKee, CPA, PhD | Bruce McGovern, JD, LLM | Roger Lusby, CPA | C. Clinton Davis, CPA, JD | James A. Smith, CPA, CGMA | Wesley Miller
- Course Levels:
- Intermediate
- Duration:
- 8 Hours
- License:
- Product Setting: Expires 40 day(s) after program date.
Description
This year’s ACPEN Annual Tax Update will provide experienced tax practitioners and advisors in public accounting and private industry with an update on current federal tax developments occurring within the past 12 to 18 months.
Important tax legislation was enacted during this period, including the the Bipartisan Budget Act of 2015, signed by President Obama on November 2, 2015, the Protecting Affordable Coverage for Employees (PACE) Act, signed by President Obama on October 7, 2015 and the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, signed by President Obama on July 31, 2015. Although the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 was primarily designed as a 3-month stopgap extension of the Highway Trust Fund and related measures, it includes a number of important tax provisions, including revised due dates for partnership and C corporation returns and revised extended due dates for some returns. We will provide an overview of these provisions, which may have a significant impact on you, your clients, or your business.
The IRS and Congress are constantly changing the tax law whether by new regulations or allowing tax code provisions to expire. It’s a challenge to stay current. This ACPEN course will include a panel of national tax practitioners and experts reviewing the latest legislative and regulatory developments affecting individuals, corporations and other business entities.
All significant developments occurring within the past 12 to 18 months will be considered, including those for C & S corporations, partnerships, LLCs and LLPs. Also included will be a thorough analysis of recent Tax Court and Circuit Court cases, IRS regulations, revenue rulings and revenue procedures.
For example, continuing issues with the net investment income tax promise to make tax planning and filing more challenging in coming years.
In the area of partnership taxation, new and proposed regulations under § 706(d) and 707(a) were issued regarding changes in a partner’s partnership interest and disguised payments for services. This complex area is of particular interest to your clients (including LLC’s) filing as a partnership.
Critical issues include the one-time regrouping election under the passive activity loss rules and the net investment income tax and the elections available to traders who are also investors. Get those wrong (and it’s easy to do) and your clients will pay the price. And the new forms are not easy to complete correctly.
Many taxpayer friendly provisions of the tax code have now expired. Will they be reinstated retroactively for 2015 and will they apply in 2016? What will you tell your clients as year-end 2015 approaches regarding the expired provisions?
You should also expect that the IRS will continue to provide new guidance on the Patient Protection and Affordable Care Act and its application to both individuals and businesses. The mandate for businesses to provide health insurance coverage or pay penalties begins in 2015 and you should expect developments in that area to affect your clients. The panel includes experts in this area, who will carefully outline the rules and the exceptions.
Do you know what to tell them about the mandate or paying the penalty? Do you understand the monetary penalties to the business owner when the employee has to get his own insurance? It may not be as simple as you think. This topic will be covered in significant detail.
The Small Employer (less than 50 employees) will also need to be aware of the provisions arising from healthcare reform. Health Care Reimbursement plans and similar measures for small employers pose a special risk. You will be informed of the emerging issues in this area.
The panel also includes experts in estate planning. You will learn about the important developments in estate planning, and discover that estate planning remains a vital service, notwithstanding the portability provisions and the increased exemption equivalent.
The issue of identity theft continues to be a worrisome aspect of tax practice and the filing of tax returns. Our experts will focus on the best practices in this area and how to work with the IRS when this happens.
The panel will focus on providing practical advice useful to practitioners during the upcoming tax season, beginning in January 2016, as well as December 2015 year-end planning and getting prepared for the upcoming changes in the due dates of returns.
Our experts will focus on the most important tax developments that will be in place by December, 2015. We can't tell you right now what all the changes will be but we can give you the best information anywhere on current tax issues…current to the day of the broadcast!
Explore in detail the latest statutory, regulatory and judicial developments impacting tax issues. Get the latest details and all the developments in this up-to-the minute tax program that you won't want to miss.
Attendees will receive a manual (electronic or printed) detailing the latest changes impacting the current filing season. In addition the panelists will discuss possible planning strategies that will be of tremendous value to practitioners, and their clients.
Basic Course Information
Learning Objectives *Explore in detail the latest statutory, regulatory and judicial developments impacting tax issuesMajor Subjects
*Tax
*Patient Protection and the Affordable Care Act
*IRS Initiatives, New Regulations, Revenue Rulings, and Court Decisions
Course Materials
| Important CPE Credit Information 2015 (0.06 MB) | Available after Purchase | ||
| IRS CE Credit Request (0.15 MB) | Available after Purchase | ||
| Tax Update Manual (16.46 MB) | 121 Pages | Available after Purchase |
| ACA_Supplementary Materials (14.14 MB) | 28 Pages | Available after Purchase |
Faculty
Linda Bradley McKee, CPA, PhD Related Seminars and Products
Linda Bradley McKee, PhD, CPA is an Associate Professor Emeritus in the Accounting and Legal Studies department at the College of Charleston and has more than fourteen years’ experience in public accounting with local and national CPA firms. She brings a unique background of years teaching and real-life experiences in public accounting to the classroom. Linda has published numerous articles and is a past member of the American Accounting Association, the American Taxation Association, the Charleston (SC) Tax Roundtable (formerly Program Director) and the Charleston (SC) Estate Planning Council (formerly President). She has taught graduate tax courses in the taxation of pass-through entities, tax research, corporate tax, estate tax, and the taxation of business entities. She earned a Master of Science in Accounting from Texas Tech University in 1977 and a Ph.D. in Accounting from the University of North Texas in 1993. Linda has been a frequent part of ACPEN’s Annual Tax Updates.
Bruce McGovern, JD, LLM Related Seminars and Products
Professor
South Texas College of Law
Bruce McGovern, JD is a member of the faculty at South Texas College of Law Houston, where he also serves as Director of the school’s Low Income Taxpayer Clinic. Previously, he served for many years as the school’s Vice President and Associate Dean for Academic Administration. He received his undergraduate degree from Columbia University and his law degree from Fordham University School of Law. After law school, he served as a judicial clerk for Judge Thomas Meskill on the U.S. Court of Appeals for the Second Circuit in New York. He then practiced law with the law firm of Covington & Burling in Washington, D.C. He subsequently earned an LL.M. in Taxation from the University of Florida Levin College of Law, where he taught as a visiting faculty member before joining the faculty at South Texas College of Law Houston. Professor McGovern teaches and writes in the areas of business organizations and taxation. His courses include Federal Income Taxation, U.S. Taxation of International Transactions, Partnership and Subchapter S Taxation, and Federal Tax Procedure. He frequently speaks on recent developments in federal income taxation. Professor McGovern is a member of the Council of the State Bar of Texas Tax Section, a former Chair of the Houston Bar Association Section of Taxation, and a Fellow of the American College of Tax Counsel.
Roger Lusby, CPA Related Seminars and Products
Roger W. Lusby, III CPA, CMA, AEP, is in charge of coordinating tax services for Frazier & Deeter, LLC clientele in Atlanta, Georgia. His responsibilities include a review of a variety of individual, estate and corporate tax returns and assisting clients in tax planning, financial planning, executive compensation and stock option planning, estate and succession planning, and international tax planning for the Firm?s clients primarily in the real estate, hospitality and service industries. Prior to joining the Firm, Roger was a tax supervisor with an international accounting firm. He has served in numerous leadership positions for many professional organizations including the Georgia Society of Certified Public Accountants, American Institute of Certified Public Accountants, Institute of Certified Management Accountants, American Association of Individual Investors, International Association of Financial Planners, Atlanta Tax Forum, and the Atlanta Estate Planning Council. Roger has presented numerous highly-rated training courses and seminars as an adjunct faculty member and CPE Speaker on a variety of topics including estate, stock option, and S corporation planning and has published many articles on these and other topics. He earned his Bachelor of Science degree, cum laude, from Berry College, Mt. Berry, Georgia in 1979, his Master of Taxation degree from Georgia State University in 1983, and has earned the Accredited Estate Planner Designation
C. Clinton Davis, CPA, JD Related Seminars and Products
Krage & Janvey, L.L.P.
C. Clinton Davis JR, is with the law firm of Krage & Janvey, LLP in downtown Dallas. He graduated cum laude from the SMU Dedman School of Law in 1980 and first in his graduating class from Northwestern State University of Louisiana in 1977 with a Bachelor of Science in Accounting. He was first licensed in Florida as an attorney in 1980 and then in Texas in 1982. He has been a licensed CPA in Texas since 1980. He has been Board Certified in Tax Law by the Texas Board of Legal Specialization since 1988. He has been named as a Super Lawyer, a Top Attorney in Texas by Texas Monthly, one of the Best Lawyers in Dallas by D Magazine and a Top Rated Lawyer by the Dallas Morning News, all in the tax area.
Clint has in the past been an author and discussion leader for numerous CPE courses for the Texas Society of CPAs. Clint also speaks before various bar associations and accounting conferences. and is a frequent presenter and moderator on the Accountants’ Continuing Professional Education Network.
Clint primarily represents high net worth individuals and closely held businesses with much of his time devoted to real estate tax planning, implementation of S corporation ESOPs, mergers and acquisitions and private foundations.
James A. Smith, CPA, CGMA Related Seminars and Products
Managing Director
Smith, Jackson, Boyer & Bovard, PLLC
James A. (Jim) Smith, CPA, CGMA, serves as Managing Director of Smith, Jackson, Boyer & Bovard, PLLC, a Dallas Certified Public Accounting firm. He practices extensively in tax compliance, planning and controversy representation for individuals and entrepreneurial businesses. He also is engaged in the preparation, compilation and review of financial statements; exit strategy planning for entrepreneurs; merger and acquisition planning and transactions; and forensic accounting and litigation services.
Mr. Smith served as Chair of the Texas Society of CPAs (TSCPA) for the 2007-2008 year, and as a member of its Professional Standards and Federal Tax Policy Committees since their inception. He served as a member of the AICPA Council 2007 through 2011 and from 2012 through 2015. He also served as an appointed member of two of the AICPA’s key standard setting committees: the Accounting and Review Services Committee from 2008 through 2011 and the Tax Practice Responsibilities Committee, 2014 to 2017.
Wesley Miller Related Seminars and Products
Wes Miller currently serves as the Director of the Healthcare Policy & Process for Blue Cross Blue Shield of Louisiana. His primary area of focus is Healthcare Reform policy analysis and process improvement for the Health Insurance Industry. He is responsible for disseminating the policy language into useful, functional requirements for implementation by the health insurance issuer. He periodically speaks to audiences about the impacts of the changing regulatory landscape and participates in national healthcare policy forums in Washington, DC. He also currently serves as a representative for the Louisiana Healthcare Education Coalition (LHEC) that is a grass roots community organization with the mission of educating the public about the Healthcare Reform Law. Prior to joining Blue Cross Blue Shield, he served as President and CEO of WCM Management, Inc. and COO/CFO of WSA, LLC. During his tenure with WCM Management, he consulted with small businesses and assisted them in the development of short term and long term strategic planning along with providing operational guidance. He also served as Vice President of Commercial Lending at Fidelity Bank in Baton Rouge, Louisiana. Since joining Blue Cross Blue Shield, he has logged thousands of hours studying the estimated 20,000 pages of the Healthcare Reform regulations. He works alongside the organization’s legal, audit and compliance departments helping to ensure adherence with all aspects of this law. He also assists the Healthcare Reform implementation team with the operational complexities related to the new law. He frequently participates in meetings with the Department of Health and Human Services, Department of Labor, and the Internal Revenue Service in Washington, DC. It is at these meetings he and other insurance providers, have the opportunity to provide Agencies with feedback regarding the complex operational issues of the Healthcare Reform Bill. From these meetings, he is able to communicate changes needed for a successful implementation by the issuer.
Additional Info
Basic Course Information
Advanced Preparation NoneCourse Developer Business Professionals' Network, Inc.
Designed For Public and Industry
Prerequisites None
Yellow Book
No
Additional Information
Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).Instructional Delivery Method Live, Interactive Group Webcast, Videotape In House Group Study (available two weeks after event)
Official Registry Statement
Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
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