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Live Webcast Replay

Partnership Checkup: Key Tax Issues & Forms Reporting


Total Credits: 4 including 4 Taxes - Technical

Average Rating:
   25
Categories:
ACPEN Tax Institute |  Tax |  IRS Approved
Faculty:
Steven C. Dilley, CPA, JD, PhD
Course Levels:
Intermediate
Duration:
4 Hours
License:
Product Setting: Expires 30 day(s) after program date.

Dates
Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


Description

This program addresses the most recent developments impacting partnerships operating as LLCs, with a focus on legislative, administrative, and tax form changes.  Emphasis will be placed on partners “tax basis” capital accounts – now required for tax form reporting, as well an overview of K-2 and K-3 reporting requirements and effective dates.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.

Basic Course Information

Major Subjects
  • Discussion of the impact of the Section 199A flow-through entities deduction on partnerships and their partners
  • The meaning of a “tax basis capital account” -- how do the financial accounting and tax capital accounts differ from one another
  • Distinguishing “recourse” loans from “nonrecourse” loans
  • What are “qualified nonrecourse financing” loans and how they affect partners
  • Review of the Sec. 704 “built-in gain or loss” and Sec. 465 “at risk” rules and how they impact Schedule K-1 reporting
  • Schedules K-2 and K-3 * How to calculate tax basis capital accounts, including when the entity is formed, including the impact of contributed property
  • Clarify the importance of partnership capital accounts and partnerships debt on partner's tax basis
  • Comprehensive example to illustrate the mechanics of the basis determination process

Learning Objectives
  • Identify recent tax developements impacting the partnership entity and its partners

Course Materials

Faculty

Steven C. Dilley, CPA, JD, PhD's Profile

Steven C. Dilley, CPA, JD, PhD Related Seminars and Products


Steven C. Dilley, CPA, JD, PhD is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 36 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics. In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting and was nominated in 2004 for the "Educator of the Year Award." He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.


Dates

Tue, Feb 27, 2024 - 07:00am to 10:43am MST
Sat, Mar 02, 2024 - 09:00am to 12:43pm MST
Tue, Mar 12, 2024 - 11:00am to 02:43pm MDT
Mon, Mar 25, 2024 - 01:00pm to 04:43pm MDT
Thu, Apr 04, 2024 - 07:00am to 10:43am MDT
Tue, Apr 16, 2024 - 05:00pm to 08:43pm MDT
Thu, Apr 25, 2024 - 11:00am to 02:43pm MDT

Additional Info

Basic Course Information

Prerequisites Basic working knowledge of partnership taxation
Advanced Preparation

None


Designed For CPAs working in public accounting firms and/or working for within a partnerships
Original Recording Date 05/2023
Yellow Book No
Course Developer Federal Tax Workshop
Date Added to Catalog 02/09/2023

Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Instructional Delivery Method Live Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.

Reviews

5
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1

Overall:      4.6

Total Reviews: 25

Comments

Cynthia B - New York, New York

"Really appreciated the examples and discussion of rationale behind the change in some of the partnership rules and regulations. Both help for better understanding and application of the Code."