Technical Individual Practice Issues and Tax Forms for Experienced Practitioners (ATFI)

Overview

Don’t let the title frighten you. Experienced staff can get bogged down in busy season with advanced practice and reporting issues. With major legislation enacted over the past few years, we bring you the distilled version of what you need to know for the current year, as well as significant current proposals that may impact the tax landscape in future years or even retroactively.

This course discusses the topics that experienced staff, managers, and partners should understand in depth, while also helping experienced staff avoid costly mistakes in complicated 1040 issues. The manual includes advanced examples and several advanced cases with complete answers provided.

Major Topics:

• What’s NEW this year that all practitioners should know
• The One Big Beautiful Bill Act
• Form 1099-K reporting requirements
• Qualified business income – Coverage of §199A including the real estate safe harbor
• Recent forms changes and the latest IRS guidance on significant tax legislation
• Increased digital communications with the IRS
• Hot developments and current areas of interest
• Virtual currency and digital asset taxation
• Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas
• Form 6198 and basis versus at-risk basis
• Form 6252 and advanced installment sale income issues such as gain on reacquisition of installment sale property
• Form 5329, additional taxes on qualified plans, and avoiding penalties
• Transactions under §1202 and §1045

Learning Objectives:

• Understand how to handle advanced technical issues that arise when preparing individual tax returns
• Complete tax forms for selected issues