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06:30pm - 07:45pm EDT - June 8, 2022

Wednesday
06:30pm - 07:45pm EDT - June 8, 2022 | Room: Mariposa 4/5
Track: ENGAGE Main Conference
Total Minutes: 75

There seems to be more news coverage in recent years about Social Security and Medicare solvency as well as numerous suggestions of strategies to get the most out of both programs. Attend this session to hear about current legislation, the basics of the programs and ideas you can use to help your clients make informed decisions.



Objectives:
  • Analyze the basics of both Social Security and Medicare so you will understand how both programs work
  • Compare case studies in Social Security that will go through various examples of how to analyze and decide the best age to begin benefits for a family situation.
Wednesday

This program will cover the Circular 230 and AICPA ethics rules that apply to tax practitioners, and how they can help us navigate difficult situations with clients. We will discuss our ethical duties in when we discover a client's non-compliance, how to handle a client who does not want to cooperate with an audit, and how to correct false information provided by the client to the IRS.



Objectives:
  • Recall the ethical rules that apply to practitioners who represent clients before the IRS.
  • Identify strategies for handling difficult situations with clients who are not compliant.
12:30pm - 01:45pm EDT - June 9, 2022

Thursday

This session will provide an update on the current tax legislative landscape in Washington and set the stage for the upcoming November 2022 elections with a view for how those elections could impact tax policy.



Objectives:
  • Analyze update on the current status of the legislative process and what tax proposals may be on the table
  • Evaluate the upcoming November 2022 elections and how the outcome of those elections could affect tax policy.
02:15pm - 03:30pm EDT - June 9, 2022

Thursday

Effective managers can make the difference between success and failure in an accounting firm. How do you measure what makes someone a good or a bad tax manager? Join this panel of colleagues to discuss the good, the bad and the ugly of managing staff.



Objectives:
  • Identify success metrics for good management practices
  • Recall important takeaways, best practices and lessons learned from different levels within a firm
Thursday

This session will look at the most common International Information Reporting requirements that High Net Worth Individuals encounter.



Objectives:
  • Recall the most common International Information Returns filed by High Net Worth Individuals
  • Recognize the penalties for failure to file
  • Identify the options to remedy non-compliance
04:30pm - 05:45pm EDT - June 9, 2022

Thursday

Changes are a given in the business tax world these days. Join this session to hear the latest and the greatest of what you need to know to stay abreast of the business tax law changes – including legislation that could be coming down the pike, recent administrative rules and Tax Court cases.



Objectives:
  • Identify legislative and regulatory tax developments for S corporations and partnerships.
  • Analyze Tax Court decisions and IRS rulings that could affect your business clients.
Thursday
04:30pm - 05:45pm EDT - June 9, 2022 | Room: Joshua 5/6
Track: ENGAGE Main Conference
Total Minutes: 75

A special passive activity loss limitation rule allows so-called real estate professionals (REP) to apply the material participation tests to their rental real estate, potentially moving these rentals out of the per se passive activity designation. As evidenced by a few court cases on this topic each year, this complex provision is often misinterpreted. The new regulations under section 163(j), a TCJA provision that uses a term from section 469(c)(7), added new regulations to Reg. 1.469-9 that clarify the REP definition. This presentation explains the REP rule, traps for the unwary, the significance of recent regulations, and planning and due diligence considerations.



Objectives:
  • Identify the benefit real estate professionals might obtain for their rental real estate activities.
  • Recognize how regulations issued in 2020 and 2021 clarify terms used at §469(c)(7).
  • Apply planning and due diligence considerations to the §469(c)(7) real estate professional rule.
06:00pm - 06:50pm EDT - June 9, 2022

Thursday

This panel of tax experts will focus on the best and most current tax planning ideas for high-income individuals, including ideas dealing with recently passed or proposed legislation! Get ideas you can use immediately to help your clients minimize taxes!



Objectives:
  • Recall many of the important planning ideas based on both current and pending legislation.
  • Distinguish what other advisers are doing to help their clients.
  • Identify a variety of strategies you can take away and implement immediately with your clients.