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AICPA & CIMA ENGAGE 2021


TAX2102 - TAX2102. Pass Through Entities


Jul 27, 2021 9:30am ‐ Jul 27, 2021 10:45am

Standard: $49.00

Description

LLC CHAPTER HIGHLIGHTS
• CARES Changes Have Special Mention for Partnerships
• Tax Cuts and Jobs Act Makes Few Changes to Partnership Tax Law
• IRS Launches Website for Streamlined Partnership Audit Process
• IRS Adds Reporting Requirements to Form K-1
• IRS Says Small Partnership Abatement of Late Filing Penalties Not Automatic
• Doctor’s Surgery Center K-1 Income Not Subject to SE Tax. Why Not?
• Attorneys’ Law Practice K-1 Income Subject to SE Tax. Why?

S CORPORATION CHAPTER HIGHLIGHTS
• Minimal Changes to S Corporation Tax in CARES and TCJA
• IRS Targets S Corporation Shareholder Basis and Reasonable Compensation
• Court Cases Illustrate IRS Targets

PASS THROUGH ENTITIES - Generally
• Pass-Through Entity Decision Making and the QBI Deduction
• IRS Promises More Audits of Pass-Through Entities
• Covid Relief and its Impact on Pass-Through Entities

Learning Objectives:
  • Recall recent court cases concerning pass through entities
  • Recall updates on IRS examination targets for pass through entities.

Speaker(s):

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