Advanced Tax Practitioner Institute

2010 Federal Tax Workbook Topics

The anticipated content for each chapter is described below. Content may be modified and refined prior to publication; however, the chapter topics will remain unchanged.

Ethics

  • Preparer licensing
  • IRC §7216 guidance
  • Role of the OPR
  • Right to practice vs. right to prepare
  • Adequate disclosure
  • Signing requirements

IRS Update

  • E-filed returns that require signatures
  • Mandatory e-filing rules
  • E-service: What's in it for me?
  • Modernized e-file (MeF) program
  • E-pay
  • OIC update
  • Partial payment installment agreements
  • §501(c)(3) application process
  • IMRS issues
  • Identity protection

Individual Taxpayer Problems

  • Commercial Annuity Distributions
  • EIC update
  • Passive activity loss groupings
  • Sale of property by life tenants and remaindermen
  • Schedule E rental real estate tax issues
  • 2010 Roth conversions

Small Business

  • §409A discussion
  • Dealing with rebates from credit card companies
  • Fringe benefit issues and ERISA requirements
  • Changes in accounting method
  • Basis of property in like-kind exchange

Agricultural Issues and Rural Investments

  • Prepaid expense limitations
  • Capital expenses vs repairs
  • IRC §707 exchanges - leveraged buyouts
  • Farm NOLs and the loss limitation
  • Passive investors' loss limitation
  • CRP update
  • Farm estate tax issues

New Legislation

  • Health Care Act (Patient Protection and Affordable Care Act)
  • HIRE Act
  • Continuing Extension Act
  • Military Spouses Residency Relief Act
  • Other new legislation

S Corporations

  • Determining adequate compensation
  • Shareholder basis
  • Conversions and built-in-gains tax
  • Wrapping up the S corporation
  • S corporation as part of affiliated group
  • Estate planning with the S corporation

Estate and Trust Taxation

  • Types of trusts and their purposes
  • Income issues
  • Deduction issues
  • Taxation of beneficiaries
  • Special problems

Marriage Planning Issues

  • Marriage - tax bonus or penalty?
  • Responsibility for new spouse's tax liability
  • Estate taxes
  • Divorce issues

Credits

  • Major tax credits discussion
  • Carryforward/ carryback of credits
  • Refundable and nonrefundable credits
  • Forms for claiming credits

Schedule C Audit Issues

  • Audit technique guides and use by revenue agents
  • General issues in retail industry
  • Cash intensive business issues
  • Specific industry issues including e-commerce, gas stations, restaurants and bars, direct sellers

Elder Issues

  • Annuity issues
  • Long-term care expenses, insurance, and benefits
  • Home care payroll tax issues
  • Supplemental health insurance
  • Power of attorney
  • Gifting

Home Ownership Issues

  • First-time homebuyer credit
  • Home mortgage interest rules and limitations
  • Reverse mortgages
  • Sale of principal and secondary residences
  • Business use of home
  • Rental of vacation homes
  • Foreclosures, repossessions, abandonments, and short sales
  • Like-kind exchanges

Rulings and Cases

Modified: June 21, 2010

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