How to Not Get Crushed by Income Tax Collection from a Partnership - Centralized Partnership IRS Audit Rules: Biggest Change in History of Par
Description
Learn about Centralized Partnership IRS Audit Rules, one of the biggest changes in history of partnership taxation. Partnerships will be taxed like C Corps if we don’t defend.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.
Highlights
- Not to get crushed by IRS collection of income tax from a partnership
- How the tax preparer can decimate a partnership’s future (or save it)
- To avoid ugly partnership level income tax at highest rate (and perhaps no basis step up for partners)
- To protect clients by electing out of new regime - who, how, when and why
- Congress’ Technical Corrections one month ago greatly expanded CPAR
- To identify whether S corporations may look better than partnerships now
- To lead your client to prepare in earnest today
Objectives
- What is an “imputed underpayment” liability of a partnership?
- What is a “push out” election and how does a partnership get decimated without it?
- May a partner do the right thing and “amend out” or “pull in”?
- How must partnership/LLC operating, buy-sell, contribution, dissolution and loan agreements be revised to avoid problems?
- Who is a “partnership representative (PR)”? If we don’t choose one, IRS will for us (not even close to good)
Designed For
All CPAs
Registration for this course has passed.
Course Pricing
Member Fee
Applicable if you are a HSCPA member in good standing. |
$99.00 |
---|---|
Non-Member Fee
Applicable if you are not a HSCPA member. |
$129.00 |
Your Price | $129.00 |
CPE Choice
Learn more about CPE Choice.
This course does not qualify for CPE Choice.