IRS Telephone Seminars

IRS Form W-9 and W-8 Series: Payee Identification and Tax Determination BenefitsThis live audio conference will provide information about the purpose of the form and when it should be obtained. You will learn who can complete Form W-9 for U.S. persons, and if the payee is a foreign person, that Form W-8 is necessary. In addition, this live audio conference will provide valuable information regarding the backup withholding requirements if the W-9 information is not  more...

Unrelated Business Income Tax ... unnoticed now get picked up and widely broadcast. Recent IRS compliance initiatives in governance, transparency, abusive tax avoidance transactions, executive compensation, tax-exempt hospitals and community benefit, and the current ongoing initiative involving colleges and universities, have securely placed the spotlight on this sector. The Internal Revenue Service has become more  more...

Health Savings Accounts BenefitsThis live audio conference will explain the basic rules for eligibility, contributions and use of an HSA with a high deductible plan. It will also review current studies on whether HSAs are achieving the goal of reducing total health care costs through consumerism. Focusing on the final comparability rules for employer contributions and updates on the new contribution limits and IRS  more...

Tax Benefits and Considerations for Contributions of Inventory and Other Assets by Business Entities BenefitsMany business entities and individuals wish to support the mission and programs of important charitable organizations with gifts of inventory and other assets. This live audio conference will review the unique considerations and rules governing the tax benefits for gifts of inventory and other assets. Applicable IRS publications and forms will be shared and explained. This live audio  more...

Withholding of Taxes on Payments to Foreign Persons and Entities ...withholding on these payments can reduce liability to the IRS. After attending this live audio conference, you will be able to identify when income is subject to withholding, evaluate the proper procedures to withhold and comply with the proper documentation. This live audio conference is designed for accountants, tax managers, accounts payable professionals, bookkeepers, CFOs, controllers,  more...

Form 990 And Unrelated Business Income BenefitsThis live audio conference will involve a detailed discussion of Form 990, including tips and traps. If you are involved with 990s, you know the effort it takes to complete the form accurately. With renewed emphasis on the filing due to congressional attention and IRS audit activity, this program will go through the respective parts of the form in detail, and provide tips on completing the  more...

IRS Guidelines for Good Governance for 501(c)(3) Organizations ...dio conference will help you understand why Congress, the IRS and others insist on requiring that Section 501(c)(3) entities implement the best practices in corporate governance. This program will assist you and others responsible for completing the governance portions of the Form 990. We will include tips for how to establish systems to collect the necessary information. This live audio  more...

International Tax Forms and Reporting Requirements ...al rate, many tax professionals must complete a number of IRS forms that have not been previously encountered. This live audio conference will deal with those IRS forms that tax professionals must understand to assist their clients. We will provide a common hypothetical scenario in which a taxpayer must file each IRS form, discuss practice pointers, and describe how to complete the IRS form.  more...

IRS Form 941 Reporting Update ...IRS collects hundreds of billions of dollars of employment taxes each year - more than any other source of revenue. Form 941 and related forms lie at the heart of the IRS's employment tax collection system. Much of the administrative burden under that system falls on employers. An employer's failure to understand and comply with its obligations can result in IRS assessments, audits and  more...

IRS Form 1099 Reporting Update BenefitsAs another year passes in the world of 1099 reporting, we have become accustomed to educating ourselves as to the complicated revisions of the 1099 rules. After having prepared to comply with the original text of law thrust upon us by Congress last year, we subsequently became witness to several repeals of the burdensome provisions. There will be continual uncertainty as to what revisions  more...

Changes to Cafeteria Plans: What You Need to Know to Prepare ...IRS recently issued new rules which replaced portions of the old regulations. These new rules are exciting but require you to review and act on your old documents. The information provided in this live audio conference will assist you in decisions for the upcoming plan year and how to prepare for the changes. This live audio conference is designed for human resources and benefits managers,  more...

IRS Form 5471: Information Return for U.S. Persons With Respect to Certain Foreign Corporations ...ny that owns a Canadian subsidiary, you will have to file IRS Form 5471 for every foreign corporation that you own. Although an information return, the Form 5471 is the place the IRS starts when auditing U.S. businesses that own foreign corporations. As a result, the proper preparation of the Form 5471 will offer the opportunity to document your planning and make that planning audit proof. In  more...

Requirements for Providing E-Forms W-2 and W-2c ...W-2 and W-2c form distribution, but do not understand the IRS regulations and internal business elements surrounding this online implementation. Several online W-2 projects have failed and were delayed due to not knowing all of the essential information regarding online form distribution. This audio conference will explore all the requirements and business considerations to ensure that your  more...

Recent Developments in Material Participation for LLCs and LLPs ...IRS has been actively auditing and disallowing losses claimed by owners of businesses organized as limited liability entities on the grounds that the owners do not materially participate in the operations of the business. The critical element of the IRS's attack is that members of a limited liability entity are, under applicable treasury regulations, equivalent to limited partners in a limited  more...

Family Limited Partnerships in Estate Planning ...mpanies have come under recent scrutiny and attack by the IRS. Failure to properly create or maintain these entities can result in significant tax losses. Failure to consider the use of these entities can result in significant lost tax savings and other nontax benefits. This audio conference is critical to ensure your continued use of family limited partnerships and family limited liability  more...

Accounting for Uncertain Tax Positions: FIN 48 Update ...ain tax positions is already a challenge. Now, the recent IRS proposal to require corporate filing of Schedule UTP brings highly controversial reporting concerns. Schedule UTP would require income tax return disclosure of federal uncertain tax positions in detail that goes far beyond the corresponding financial statement requirements. As presently proposed, taxpayers are concerned that it  more...

Recent Developments in Employer Liability for 401(k) Investments ...happy employees, U.S. Department of Labor investigations, IRS investigations, massive class action lawsuits - an ever-expanding list of factors bombards sponsors of 401(k) plans, and places companies and their management potentially in the cross hairs. From Enron, Worldcom and Sarbanes-Oxley, to the more recent massive class actions filed against Fortune 500 companies regarding 401(k) plan  more...

When Wages are Not FICA Wages ...IRS, thereby exempting those monies from FICA tax? If not, this teleconference will be beneficial to you in helping reduce employer liability for FICA taxes on money that is not wages. You already know that any cash or noncash remuneration received for employment, unless specifically exempt, is considered wages subject to the FICA tax. This teleconference will examine the importance of  more...

Schedule C Reporting Update ...IRS statistics, more than 22 billion Schedule C forms are filed each year. Many of these represent small, often home-based, businesses. However, a large number also represent large, full-time business enterprises. It is not surprising that with such a large vast array of different types of businesses, Schedule C filers are frequent targets of IRS audits. This teleconference will review the  more...

IRS Form 8928: Health Plan Reporting and Excise Tax Update ...other federal group health plan mandates. Recently issued IRS final regulations now require employers to self-report violations of these rules and pay related excise taxes, where appropriate under the Code and applicable regulations. This teleconference will help you understand the new reporting obligations, which make compliance with group health plan requirements more important than ever.  more...

Code Section 409A ...IRS is giving employers one last chance to fix their plan documents and compensation agreements for Code Section 409A. However, the IRS has also announced some new interpretations of Section 409A provisions that will require most employers to make changes to their plans and agreements. Employers that make these changes before January 1, 2011, can avoid IRS penalties, in most cases. In 2010, the  more...

Navigating Form 1041 ...nd its beneficiaries can avoid not only challenges by the IRS but also disgruntled beneficiaries. This teleconference will help you understand the main rules on how to properly prepare Form 1041 for probate estates and simple and complex trusts. Learn what is taxable to and deductible by a fiduciary entity. Discover the required allocation rules concerning depreciation and DNI. With the  more...

Understanding the HIRE Act and Form 941 BenefitsWith all of the new legislation that has affected employers, it is becoming difficult to keep up with the new requirements. During this teleconference, you will obtain the knowledge on how to make sure that your company can take tax benefits being offered to employers for producing jobs and hiring new employees. We will explain in detail the HIRE Act from how to determine what employees  more...

1099 Reporting of Payments to Attorneys and Other Third-Parties ...services performed are for the benefit of the payor). The IRS reminds us that all third-party payers, such as small businesses or individuals, are required to annually report payments made to subcontractors, attorneys, architects and other service providers. Your attendance will provide the knowledge to insure compliance with these laws and advise payors of their responsibilities. Accountants,  more...

Payroll Tax Pitfalls: Preventing IRS Penalties and Personal Liability for Late Payments ...lize the substantial penalties that can be imposed by the IRS against the company when payroll taxes are not timely deposited or paid at all. Additionally, in certain situations, officers and employees can be held personally liable for past due payroll taxes. This teleconference will help you understand the procedures and potential problems associated with making timely and accurate payroll tax  more...

Cost Segregation: Applications for a Valuable Tax Planning Strategy BenefitsCost segregation is a powerful tax planning strategy used by real estate owners and tenants to accelerate significant depreciation deductions associated with buildings and improvements of all types and sizes. Although cost segregation has become quite popular in recent years, many tax advisors and real estate owners are still missing significant opportunities because they are unfamiliar  more...

Current Work Product Issues in Taxation: Preservation, Waiver and Tax Accrual Work Papers .... v. Textron litigation and related cases have shown, the IRS. This teleconference is geared towards business and finance personnel, as well as counsel, who should understand the current debates, standards and best practices with respect to work product protection and avoiding waivers regarding the most important company documents. Accountants, attorneys, CFOs, controllers, accounts payable  more...

Reports for Maintaining Compliance and Controlling Costs ...u money that adds up fast. One incorrect form sent to the IRS or a state agency could result in thousands of dollars in penalties. Failure to deduct insurance or other deductions from employees can also add up fast. Running the correct verification reports will help. Taxable wage figures should also be verified, but how? Find out during this informative teleconference. Payroll professionals,  more...

Final Regulations on Shareholder and S Corporation Debt ...IRS' recently issued final regulations which limit the use of open account debt to pass-through S corporation losses to shareholders. Prior to these new regulations, taxpayers avoided recognition of income on the repayment of open account debt with reduced basis because of prior loss pass-throughs. We will discuss how these new regulations limit the use of open account debt and techniques to  more...

Federal Tax Classification of Series LLCs BenefitsThe series LLC may be the solution to many issues that confront federal tax practitioners on a daily basis. For example, the series LLC is very useful in situations where long and expensive regulatory processes are involved with a new state law entity. The series LLC also can be used in asset backed securitizations in place of business trusts in those states that treat single member LLCs  more...

Getting Advice from the IRS: Letter Rulings, Pre-Filing Agreements, TAMS and GLAMs ...do not provide the certainty of qualified advice from the IRS. This teleconference is designed to discuss how, when and why to seek qualified written advice from the IRS, normally in the form of a private letter ruling request, a review of the ruling requirements set forth in Rev. Proc. 2009-1, what is not covered by a private letter ruling, the benefits of a pre-filing conference prior to the  more...

Strategies in Representing Clients Before the IRS BenefitsThis teleconference is designed to summarize the important strategies to keep in mind when representing clients before the Internal Revenue Service. Tax exams are an every day occurrence. It is important to conduct them professionally and efficiently while at the same time presenting the taxpayer's position in the best possible way. Accountants, CPAs, attorneys, tax professionals, CFOs,  more...

Tax Treatment of Gift Card and Certificate Sales ...IRS is aware that the popularity of gift cards has increased at a remarkable rate in recent years. Gift card sales by retailers raise a variety of interesting and complicated tax issues. The IRS has announced that certain gift card issues are Tier II issues; some of which must be raised during an examination and some of which should be raised during an examination. The IRS announced, in several  more...

When HOA's and the IRS Compete for Lien Property: Lien Priorities, Perfections and Foreclosure Rights ...OA lien should have priority over a subsequently recorded IRS income tax lien; but does it? When the IRS records an income tax lien, lien priority determinations under state law may be complicated by governed federal laws. This teleconference will discuss HOA lien priority according to state statutes, which may be preempted by the federal tax code. We will also discuss when the federal tax lien  more...

Revised Federal Form 1065 BenefitsMore and more businesses are choosing to operate in the form of limited liability companies and being taxed under the partnerships rules as a pass through entity. The preparation of a partnership income tax return is becoming increasingly more challenging as the IRS increases the level of transparency and reporting. The purpose of this teleconference is to highlight important areas for  more...

IRC Section 41: Credit for Increasing Research Activities Update ...an and can't be considered research and development under IRS guidelines. Several topics that will be discussed include understanding the broad range of companies in many industries that can qualify for the research credit, potential pitfalls and significant opportunities to bring value to your clients by using the research credit, and various elections and opportunities that can maximize the  more...

Payroll Hiring Issues: Forms and Tax Credits ...yee is hired. The teleconference will provide examples of IRS and certain state required procedures, and provide insight on any recent changes and updates. We will discuss forms that you may be required to produce upon audit by the IRS or state taxing authority and how long certain forms should be retained. The teleconference will educate you regarding the issues involved in determining when a  more...

Nonprofit Joint Ventures - Partnering with For Profit Organizations ...he upswing. Despite evolution in business conditions, the IRS positions governing this complex area of law have not eased and can be difficult to apply to complex structures. This teleconference will enable you to learn how to structure joint ventures that make business sense without exposing the tax-exempt participant to undue IRS risks. You will also take away a good understanding of how to  more...

Understanding the Complexities of Form 5472 .... distributor of a Canadian Parent, you will have to file IRS Form 5472 for every transaction with a related party. Although an information return, the Form 5472 is the place the IRS starts when auditing foreign-owned U.S. businesses. As a result, the proper preparation of the Form 5472 will offer an opportunity to document your planning as well as make that planning audit proof. In this  more...

Understanding the New Penalties for Tax Preparers nSignificant changes have been made to the preparer penalty of IRC §6694 since 2007. The standard of care needed to avoid the penalty has been raised, the penalty is greater and the reach of the penalty is broader. In addition, there are various other penalties and rules of conduct you must be aware of and new guidance has been issued in several of these areas in the past year. It is imperative  more...

Supplemental Wage Payments: Common Withholding Guidelines ...e tax withholding practices to facilitate compliance with IRS regulatory changes and will offer practical tips to help ease administrative burdens. The program will educate you with respect to the issues involved in determining when wage payments should be classified as supplemental wages or regular wages, and the applicable withholding rules that apply to the payments. We will discuss the most  more...

IRS Form 1040 - Schedule D Update nUnited States taxpayers are experiencing many challenges in our current economic environment that will have major effects on their tax returns. The collapse of the housing market, home foreclosures and worthless securities has affected most taxpayers. Preparing the 1040 Schedule D is challenging for even the most efficient tax professional. By attending this teleconference, you will be reminded  more...

Retirement Benefit Solutions For Nonprofit Organizations and Government Entities nNonprofit organizations face many of the same issues regarding use of retirement benefits to attract and retain employees and executives as for-profit companies, but the tools available to them are often more limited. This teleconference will explore both broad-based retirement programs and executive deferred compensation available to nonprofit organizations. It will highlight new rules for  more...

Hot Topics for 501(c)(3) Organizations nThere has been a lot of talk about the revised Form 990 and it's finally here! Whether you love it or loathe it, you can't put it off any longer. We will spend a majority of the time talking about some of the hot-button issues that the new form raises both in terms of simple compliance and in communicating with and involving your board. But wait, there's more! After this teleconference, you'll  more...

Investing IRAs and Qualified Plan Rollovers in Real Estate, Franchises, Start-Ups and Other Private Investments - Techniques and nA growing number of IRA owners and recipients of qualified plan rollovers have sought to take control of their own investments by investing directly in real estate and small businesses that they may intend to manage or otherwise be personally involved in. This trend has accelerated in recent years as syndicators, entrepreneurs, private fund managers and franchisors have come to view IRAs and  more...

Understanding the COBRA Alternative Coverage Rules ...rocedure for doing so is quite complicated. n nDiscussed first is what constitutes the various forms of alternative health coverage, how it applies and in what circumstances. Secondly is a discussion of what procedures must be followed in order to offer alternative coverage under COBRA. There are numerous ERISA and IRS regulations that must be followed. n nAlso included are the repercussions  more...

Estate and Gift Tax Audits ...irst question the executor asks when the estate tax return is selected for audit is "why this return?". What was it about the return that caused it to be selected for IRS examination? n nThis teleconference answers that question and many more related to the subject of estate and gift tax return audits. Learn about the characteristics that trigger audits and why some estate and gift tax returns  more...