by Fmeaddons

Understanding Common Errors in Individual Tax Returns (CETR)

$65

Understanding Common Errors in Individual Tax Returns (CETR) is a CPE course that provides 4 credits in the field of taxes for CPAs and practitioners.

SKU: CETR Category:

Description

Earn 4 CPE credits in the field of taxes while learning about the most prevalent errors found on individual tax returns.

Major Topics

  • Hazy situation, two seemingly similar cases, yet one results in ordinary tax treatment, the other capital treatment. (Heads they win, tails we lose)
  • Individual income tax cases regarding income, adjustments, itemized deductions and dependency
  • When “Gifts” can be taxable
  • Failing alimony’s same household requirement
  • The last word in alimony is not always the best word
  • When a “rollover” is not a rollover, the Claim of Right Doctrine
  • How many Schedule A filers after TCJA?
  • Why are manhole covers round?
  • Don’t get caught watching the paint dry, the IRS “Future State” initiative
  • The future of Social Security
  • Does aggregating passive activities also aggregate “At-Risk”?
  • Failure to report income witnessed by 20 million people
  • Form 8938 for reporting foreign financial assets and updated rules. How much trouble results in not filing a FinCEN Form 114?
  • Chained CPI Index and Social Security – Is the horse within the gates?
  • What are the risks with non-traditional IRA investments?

Learning Objectives

  • Develop strategies that will assist in not only avoiding mistakes but also in providing the best advice to your clients
  • Achieve significant insight into the major mistakes that can be made in individual tax and financial planning

Designed For

CPAs who wish to get a deeper insight into underlying tax law for some common client transactions that many offices have seen, plus some not so common client transactions

Prerequisites

Basic knowledge of individual income taxation

Advance Preparation

None

Additional information

Course Acronym

Credits

Field of Study

Format

Level

Product Type

Qualifies For

State Board Accreditation

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