Top Tax Changes for 2015 (Currently Unavailable)

Author: Eva Rosenberg

This course will give you the highlights of some of the most important issues we will be facing for the upcoming tax season including the new extenders passed in December.

Publication Date: January 2016

Designed For
Tax practitioners at all levels regardless of tax practice who want to stay current on key tax issues and want more depth than is available in the usual overwhelming year-end review.

Topics Covered

• Expiring or Renewed Provisions
• Annual Filing Season Program (AFSP) news and requirements
• Client Consents, Disclosures, Disclaimers
• Foreign Assets, accounts — FBARs, FATCAs and other horrors
• Updates to IRS Fresh Start provisions for tax balances, including the new Taxpayer Bill of Rights
• Changes to Electronic Filing procedures
• The Voluntary Classification Settlement Program (VCSP) — is it right for your client?
• Business Expense substantiation Requirements — new provisions? Or is the IRS getting more touchy about enforcing existing documentation rules?
• Key tax rulings and IRS Revenue Procedures
• Update your website and client materials with...things to include your 2014 engagement letter — or CYA letter (template provided)

Learning Objectives

• Recognize the important tax changes and procedures to better prepare you for the tax season
• Differentiate true statements regarding the Annual Filing Season Program
• Identify the characteristics regarding Conflicts
• Recognize true statements regarding a Fresh Start
• Identify statements regarding filing a FACTA and FBAR form
• Describe the Voluntary Classification Settlement Program
• Differentiate the benefits of the Annual Filing Season Program (AFSP)
• Identify true statements about disclosures and conflicts
• Recognize which disclaimers to use at the bottom of our emails according to the Office of Professional Responsibility (OP)
• Identify the assets when preparing a request for a Fresh Start Installment, when the IRS permits taxpayers to exclude
• Describe statements regarding e-filing
• Differentiate statements regarding FATCA
• Identify statements about the expense substantiation
• Recognize correct statements regarding VCSP
• Describe characteristics regarding updating the office
• Identify the standard mileage rate for 2015

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic knowledge of taxation

Advance Preparation
None