IRS Tax Tip 2022-49, March 30, 2022
Once taxpayers file their federal tax returns, they’re eager for details about their refund. When it comes to refunds, there are several common myths that can mislead taxpayers.
IRS Tax Tip 2022-49, March 30, 2022
Once taxpayers file their federal tax returns, they’re eager for details about their refund. When it comes to refunds, there are several common myths that can mislead taxpayers.
If there is one thing we’ve learned over the past two years, it is that the Internal Revenue Service is vital to the economic health of our nation. In the midst of a pandemic it has delivered $800 billion in economic impact payments, or stimulus checks, almost $93 billion in advance child tax credits, and additional billions in employee retention and sick and family leave credits.
PMA echoes the lawmakers’ enthusiasm for providing high quality and effective taxpayer services. We are also equally concerned regarding the current state of the IRS. However, there is an apparent disconnect between Congressional demands and the IRS’s practical capacity to address them. This disconnect exacerbates inefficiencies and results in negative taxpayer experiences, as well as excessive burden on our members and their staff.
The Internal Revenue Service will kick off the 2022 tax-filing season in a state of crisis as it grapples with a backlog of millions of unprocessed returns from one of the “most challenging years” for the agency.
IR-2022-08, January 10, 2022
WASHINGTON — The Internal Revenue Service announced that the nation’s tax season will start on Monday, January 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns.
Date: December 4, 2018
Time: 2pm – 4pm EDT
Instructor: Mary Beth Lougen, EA, USTCP
IRS Program Number: NMVBP-T-00114-18-O
The IRS is focusing their resources on international tax compliance; as such, practitioners are seeing increasing numbers of examinations in this area along with FBAR and international information return penalties. We will discuss in detail methods to defeat these penalties, such as reasonable cause, as well as how to effectively represent clients in either an international non-compliance examination or penalty abatement engagement. In addition, we will look at case studies to bring a real-life perspective to these issues.
Learning Objectives:
Date: November 27, 2018
Time: 2pm – 4pm EDT
Instructor: Mary Beth Lougen, EA, USTCP
IRS Program Number: NMVBP-T-00113-18-O
This course will demystify the new global intangible low tax income (GILTI) regime that takes effect for many taxpayers in 2018. We will provide an overview of the regulations and their intent, define the new terms of art in the regulations, calculate GILTI, demonstrate how the regulations affect entities and individuals differently, and what strategies are available to mitigate potential tax consequences.
Learning Objectives:
Date: October 30, 2018
Time: 2pm – 4pm EDT
Instructor: Mary Beth Lougen, EA, USTCP
IRS Program Number: NMVBP-T-00112-18-O
This webinar will instruct in both the details and computations required to complete Form 8621 under the qualified electing fund (QEF) and mark-to-market (MTM) regulations. This is a course aimed at practitioners that have an intermediate level of understanding of PFIC taxation. The materials will be computation-intensive and will cover both QEF and MTM theory as well as application on Form 8621.
Learning Objectives:
Date: October 23, 2018
Time: 2pm – 4pm EDT
Instructor: Mary Beth Lougen, EA, USTCP
IRS Program Number: NMVBP-T-00111-18-O
This webinar will instruct in both the details and computations required to complete Form 8621 under the default §1291 regulations. This is a course aimed at practitioners that have an intermediate level of understanding of PFIC taxation. The materials will be computation-intensive and will cover both §1291 theory as well as application on Form 8621.
Learning Objectives:
Webinar Cost: $149.00
Date: October 16, 2018
Time: 2pm – 4pm EDT
Instructor: Mary Beth Lougen, EA, USTCP
IRS Program Number: NMVBP-T-00110-18-O
This course is the first in the Passive Foreign Investment Companies series training, that gives a broad overview of the tax law related to passive foreign investment companies, or PFICs. Failing to properly file Form 8621 can expose your client to both onerous penalties and an unlimited statute of limitations for the assessment of tax. Even though the PFIC provisions are among the most complicated and punitive sections of the Internal Revenue Code, we will explain PFICs in plain English so you can explain them to your clients.
Learning Objectives:
Webinar Cost: $149.00