Objective
- 

- Properly complete several tax forms related to certain advanced technical issues which arise in preparing Forms 1065 and 1120S 

- Understand advanced technical practice issues facing practitioners today 

Highlights
- 

- IRS challenges, urgency for modernization 

- Individuals are NOT the only victims of Identity Theft. Heightened security measures during increased telecommuting associated with coronavirus pandemic 

- IRS finally releases guidance for the marijuana industry 

- "Recycled" Form 1099-NEC to report nonemployee compensation 

- Form 1065 steps for reporting capital 

- Schedules K-2 and K-3 reporting requirements 

- Centralized audit regime; late filing penalties and small partnership relief 

- What is terminating S corporations today? 

- “Substance over Form” argument of shareholder loans 

- Advanced study of “At-Risk” loans 

- Employer W-2 correction requests 

- Don't get caught watching the paint dry -- What is hot and new 

- What is terminating S corporations today? 

- Special allocation issues of §704 

- Final regulations for allocating depreciation recapture to partners and members of LLCs 

Designed For
CPAs who are involved in planning, preparing, or reviewing complex returnsPrerequisite
Basic- to intermediate-level experience in preparing Forms 1120S and 1065Advanced Preparation
None