IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Partnership Tax Audit and Collection Rules Including Final Regulations (OnDemand Webinar)

$219.00

SKU: 410820EAU

Description

Understand what to expect from the CPAR audit process, and what options are available.The Centralized Partnership Audit Regime (CPAR) created through the Bipartisan Budget Act of 2015 replaces the auditing and tax collection procedures for partnerships under the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) and the electing large partnership rules. The CPAR is generally effective for tax years beginning January 2018 and is vastly different than its predecessor rulesets. As CPAR audits become more prevalent, this presentation will help impacted parties understand what to expect from the CPAR audit process, the role of the Partnership Representative, and what options are available to the partnership in the event of an Imputed Underpayment determination.

Date: 2023-09-20 Start Time: End Time:

Learning Objectives

The Changing Partnership Audit Landscape
• Pre-2018
• 2018 and Beyond
• Key Differences

The Role of the Partnership Representative
• Powers of the Partnership Representative
• Selecting the Partnership Representative
• Effectively Managing the Partnership Representative Through the Partnership Agreement

What to Expect When Audited
• Initial Notification
• Responding to Information Document Requests
• Working With the IRS Agent

Wrapping the Audit
• Summary Report and Right to Appeal
• Notice of Proposed Partnership Adjustments
• Notice of Final Partnership Adjustments
• Push-out Election

AIPB ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Andrew Kramer, CPA-Yeo & Yeo

IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Partnership Tax Audit and Collection Rules Including Final Regulations (OnDemand Webinar)

$219.00

SKU: 407226EAU

Description

Analyze the new partnership audit rules that are effective this year and gain a clear understanding of what partnerships need to know moving forward.Effective January 1, 2018, new Revised Partnership Audit Rules (Audit Rules) took effect, radically changing how entities taxed as partnerships will be audited and the resulting tax assessed and collected. The new Audit Rules adopt new concepts, procedures and elections. The tax resulting from the audit will now be assessed and collected from the partnership itself unless the partnership makes certain elections, including opt out, push out or pull in. The new Audit Rules require appointment of a partnership representative with Czarlike powers in dealing with the IRS audit. Unless a timely election is made, the economic burden of the tax resulting from the audit will be shifted from the persons who were partners in the prior audited year to the persons who are partners in the year the audit adjustments are final.

Date: 2019-12-05 Start Time: End Time:

Learning Objectives

Overview

Applicability (Section 6221)

Consistency Requirement (Section 6222)

Partnership Representative (Section 6223)

Partnership Adjustments (Section 6225)

Administrative Adjustment Requests (Section 6227)

Notice of Proceedings (Section 6231)

Assessment and Collection (Section 6232)

Judicial Review of Partnership Adjustment (Section 6234)

Statute of Limitations (Section 6235)

Drafting Consideration

CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Charles D. Pulman-Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P., Matthew L. Roberts – Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P., Mary E. Wood – Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P.

IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Partnership Tax Audit and Collection Rules Including Final Regulations (OnDemand Webinar)

$219.00

SKU: 406089EAU

Description

Analyze the new partnership audit rules that are effective this year and gain a clear understanding of what partnerships need to know moving forward.Effective January 1, 2018, new Revised Partnership Audit Rules (Audit Rules) took effect, radically changing how entities taxed as partnerships will be audited and the resulting tax assessed and collected. The new Audit Rules adopt new concepts, procedures and elections. The tax resulting from the audit will now be assessed and collected from the partnership itself unless the partnership makes certain elections, including opt out, push out or pull in. The new Audit Rules require appointment of a partnership representative with Czarlike powers in dealing with the IRS audit. Unless a timely election is made, the economic burden of the tax resulting from the audit will be shifted from the persons who were partners in the prior audited year to the persons who are partners in the year the audit adjustments are final.

Date: 2019-08-28 Start Time: End Time:

Learning Objectives

Overview

Applicability (Section 6221)

Consistency Requirement (Section 6222)

Partnership Representative (Section 6223)

Partnership Adjustments (Section 6225)

Administrative Adjustment Requests (Section 6227)

Notice of Proceedings (Section 6231)

Assessment and Collection (Section 6232)

Judicial Review of Partnership Adjustment (Section 6234)

Statute of Limitations (Section 6235)

Drafting Consideration

CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Charles D. Pulman-Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P., Mary E. Wood – Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P.