IRS Telephone Seminars - Training Resources

IRS Form 1099 Reporting Update BenefitsThis innovative teleconference will provide the required knowledge to prepare the mandatory reporting of various Form 1099s. By following the practices discussed within this teleconference you and your client's business entities will be provided with the knowledge that will avoid costly penalties assessed by the Internal Revenue Service had you previously chosen to ignore the proper  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...

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...

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 teleconference is critical to ensure your continued use of family limited partnerships and family limited liability  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 as well as make that planning audit  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...

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...

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...

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...

Changes to Cafeteria Plans: What You Need to Know to Prepare ...IRS recently issued new rules which replaced parts of the old regulations. These new rules are exciting but require you to review and act on your old documents. The information provided will assist you in decisions for the upcoming plan year and how to prepare for the changes. Human resources and benefits managers, attorneys, controllers, CFOs finance directors, payroll managers, presidents,  more...

Preparing an Accurate 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...

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...

Withholding of Taxes on Payments to Foreign Persons and Entities ...withholding on these payments can reduce liability to the IRS. After this teleconference, you will be able to identify when income is subject to withholding, evaluate the proper procedures to withhold and comply with the proper documentation. Accountants, tax managers, accounts payable professionals, bookkeepers, CFOs, controllers, enrolled agents, business managers and owners, presidents,  more...

Form 990 And Unrelated Business Income BenefitsThis teleconference 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 teleconference will go through the respective parts of the form in detail, and provide tips on completing the  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...

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 Guidelines for Good Governance for 501(c)(3) Organizations nEarlier this year, the Internal Revenue Service issued guidelines concerning governance and related topics for 501(c)(3) organizations. This teleconference will discuss those guidelines and other rules, regulations and policies that dovetail with the guidelines. The IRS is questioning policies and procedures for 501(c)(3) organizations both when they apply for recognition of tax-exempt status, as  more...

IRS Form W-9 and W-8 Series: Payee Identification and Tax Determination ...f various types need to file information returns with the IRS regarding payments to individuals and other types of business entities. The most common are the 1099 series used to report payments to contractors, dividends, interest, real estate transactions, etc. Form W-9 requires payees or recipients to complete the form and provide their taxpayer information. W-9 is used for U.S. citizens and  more...

Unrelated Business Income Tax - Tax Information for Charities and Other Nonprofits ... 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...

401(k) Plan Costs Including Recent Update on Supreme Court Rule LaRue v. DeWolff, Boberg & Associates Inc. ...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...

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...