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Previously Offered Webinars

Our 1-3 hour webinars offer abbreviated instruction on timely topics with the added convience of being able to attend from the comfort of your own office.

2017 Fall Tax School Webinar: Illinois Tax Update (Offered in December 2017)

About This Webinar

This webinar discusses Illinois tax changes enacted within the past year. Learn about the latest IDOR developments, issues, and alerts that the tax professional should know before filing season begins. Get updated on 2017 Illinois tax rates, withholding issues, tax calculation methods, credit changes and other provisions affecting Illinois taxpayers.

Learn answers to these questions:

  • When do tax rate changes take effect?
  • How are tax withholdings affected by the tax rate changes?
  • What 2017 tax computation methods are available?
  • What changes are there to existing tax credits?
  • Which new/re-instated tax credits are now available to Illinois taxpayers?
  • What is the Secure Choice Savings Program?
  • How does the Invest in Kids Act of 2017 affect my clients?
  • What other Illinois tax changes should tax practitioners be aware of?

About Our Speaker

Marshall Heap Marshall Heap, Phd, EA, is a Tax Content Development and Instruction Specialist at the University of Illinois Tax School. An enrolled agent since 1984, Marshall is an ex-Senior Manager of PriceWaterhouseCoopers and has seven years of recent experience as an approved IRS continuing education provider. Marshall's academic background is in Computing and associated fields with degrees from the following UK Universities: The Open University (BSc), London, Birkbeck College (MSc), and Reading (PhD).

Agenda

  1. Income and corporate tax rate increases
  2. 2017 Illinois tax withholding rates for nonresident members of certain fiscal year entities
  3. Methods for determining 2017 Illinois income taxes of fiscal year taxpayers
  4. Changes to existing Illinois tax credits
  5. New and reinstated tax credits
  6. Miscellaneous provisions
  7. Questions/answers (as time permits)

Learning Objectives, CPE, and More

Learning Objectives: By attending this webinar, you will be able to:

  1. Define income and corporate tax rate increases
  2. Calculate the appropriate 2017 Illinois tax withholding for nonresident members of fiscal year partnerships, S corporations and trusts
  3. Differentiate between the apportionment and specific accounting methods for determining the 2017 Illinois income taxes of fiscal year taxpayers (i.e. individuals, corporations, exempt organizations, trusts, and estates)
  4. Review changes to existing Illinois tax credits (e.g. earned income, education expense, and Illinois property tax credits)
  5. Describe the new instructional materials and supplies credit and the re-instated research and development credit
  6. Describe miscellaneous provisions affecting the personal exemption allowance, domestic activities production deduction, unitary businesses, and sales and use taxes
  7. Review the provisions of the Invest in Kids Act of 2017 including; the tax credit for contributions to a scholarship granting organization (SGO) for the benefit of eligible students attending Illinois nonpublic schools, the scholarship application process, and the requirements for obtaining SGO status.
  8. Describe the Secure Choice Savings Program for Illinois workers without access to employer-sponsored retirement savings plans including the 2018–2020 implementation schedule.
CPE credits Up to 0.5 based on attendance and completion of engagement activities
Field of Study (NASBA) Taxes (0.5)
IRS Categories N/A
CFP N/A
IL Insurance N/A
IL MCLE N/A

Please see our CPE FAQ for more information.

Delivery Method: Internet-Based Group

Program Level: Overview

Prerequisite(s): Professional experience in preparing Illinois tax returns and an understanding of basic tax rules and regulations.

2017 Fall Tax School Webinar: Federal Tax Update (Offered in January 2018)

About This Webinar

This webinar includes information about the Tax Cuts and Jobs Act signed into law on December 22, 2017, which contains many provisions for both individuals and businesses. This webinar will provide an overview of the most significant provisions and will facilitate conversations with your clients for planning during the upcoming tax season. There are still many unanswered questions related to the new act that will require IRS clarification over the next several months. Those provisions will be noted so participants will be able anticipate further regulations and rulings. Tax provisions repealed under the new law will be summarized.

This webinar also includes information on the 21st Century Cures Act enacted in December 2016. This act includes provisions that allow qualified small employer HRAs to be used to reimburse employees for their medical expenses, including health insurance premiums, starting in 2017.

In addition, this webinar will identify extenders and expiring provisions for 2017 and beyond. It also will mention the impact of the Fiduciary Rule issued by the Department of Labor in April 2016.

As time permits, the instructor will identify important rulings and cases that occurred between September 2016 and August 2017.

About Our Speaker

Debbie Held Debbie Held has been an instructor with the Tax School since 2000. She has also served as a chapter author and reviewer for the University of Illinois Federal Tax Workbook. She is a graduate of Sangamon State University (University of Illinois at Springfield). She has been employed by the IRS since 1979, spending time as a revenue agent, appeals officer and most recently as a project manager for the SBSE Communications, Liaison, and Disclosure Division. She previously taught various accounting courses at Lincoln Land Community College for 18 years. She is a certified public accountant (CPA) and resides in Raymond, Illinois where her family farms.

Agenda

  1. Overview of individual tax provisions included in the Tax Cuts and Jobs Act
  2. Overview of business tax provisions included in the Tax Cuts and Jobs Act
  3. Summary of current provisions repealed or suspended under the Tax Cuts and Jobs Act
  4. The 21st Century Cures Act: reimbursing employee medical expenses, including health insurance premiums
  5. Other tax provisions expiring in 2017
  6. Significant rulings and cases between September 2016 and August 2017

Learning Objectives, CPE, and More

Learning Objectives: By attending this webinar, you will be able to:

  1. Identify individual and business provisions included in the Tax Cuts and Jobs Act that was enacted on December 22, 2017.
  2. Review current provisions repealed or suspended under the Tax Cuts and Jobs Act.
  3. Explain the impact of the 21st Century Cures Act as it applies to use of HRAs to reimburse employee medical expenses, including premiums for health insurance obtained through a health insurance exchange.
  4. Identify which tax provisions expire in 2017.
  5. Examine the effects of certain court cases when the IRS challenges taxpayer positions on tax returns.
CPE credits Up to 3.0 based on attendance and completion of engagement activities
Field of Study (NASBA) Taxes (3)
IRS Categories Federal Update (3)
CFP Taxation (3)
IL Insurance N/A
IL MCLE Taxation (2.5)

Please see our CPE FAQ for more information.

Delivery Method: Internet-Based Group

Program Level: Overview

Prerequisite(s): Professional experience in preparing tax returns and an understanding of basic tax rules and regulations.

2017 Fall Tax School Webinar: Small Business Issues (Offered in December 2017 and January 2018)

About This Webinar

As an issues webinar, this session addresses various common tax-related concerns of small business owners. In particular, this session focuses on profit vs. not-for-profit activities and comparing tax treatment when the activity does not rise to the level of profitable activity.

Other issues addressed in this webinar include:

  • The benefits of qualified small employer HRA plans and rules that became effective January 2017
  • The distinction between investors vs. traders and between landlords vs. real estate professionals
  • The rules for loss recapture on the sale of business assets
  • Correcting depreciation errors

About Our Speaker

Tom O'Saben Tom O'Saben has been an instructor for the Tax School since 2009. During that time, he has also been a presenter with the National Association of Tax Professionals, where he served as a Training Specialist developing curriculum, writing textbooks, and instructing at educational seminars. Tom's practice, established in 1991, provides tax services for approximately 1,000 clients. Tom earned his bachelor's degree from Southern Illinois University Edwardsville. He is an enrolled agent (EA).

Agenda

  1. Define business income
    1. Not-for-profit income
    2. Individual vs entity
  2. Investor versus trader
    1. Mark-to-market election
  3. Landlord versus real estate professional
    1. Active versus material participation
  4. Small business stock (IRC §§1202 and 1244)
  5. Small business deductions for HSAs, FSAs and HRAs
  6. Sale of business assets
  7. Correcting depreciation errors
  8. Like-kind exchanges

Learning Objectives, CPE, and More

Learning Objectives: By attending this webinar, you will be able to:

  • Distinguish between the tax treatment of activities engaged in for profit compared to not-for-profit activities
  • Identify situations that allow individuals to deduct stock losses as ordinary income
  • Explain the benefits of QSE HRA plans to business owners
  • Calculate depreciation recapture on the sale of an asset
  • Show clients how to correct errors in calculating depreciation
CPE credits Up to 1.5 based on attendance
Field of Study (NASBA) Taxes (1.5)
IRS Categories Federal Tax (1)
CFP Taxation (1.5)
IL Insurance N/A
IL MCLE Taxation (1.25)

Please see our CPE FAQ for more information.

Delivery Method: Internet-Based Group

Program Level: Overview

Field of Study: Taxes

Prerequisite(s): Professional experience in preparing tax returns and an understanding of basic tax rules and regulations.

2017 Fall Tax School Webinar: Partnership Issues (Offered in December 2017 and January 2018)

About This Webinar

When two or more persons agree to engage in a common business activity, is this arrangement considered a partnership? Are all such types of arrangements required to file a Form 1065? You may be surprised. Tax professionals who prepare returns for a group of clients who engage in a common business activity may actually be dealing with a partnership, even though a written or verbal agreement is nonexistent. If it walks like a duck (partnership) and quacks like a duck (partnership)... it's a duck (partnership). This webinar provides essential information to help tax professional understand the intricacies of partnership tax aspects from computing capital accounts, dealing with the impact of partnership liabilities and the benefits of making a §754 election, reporting and taxing distributions, to dealing with the disposition of a partnership interest.

About Our Speaker

Tom O'Saben Tom O'Saben has been an instructor for the Tax School since 2009. During that time, he has also been a presenter with the National Association of Tax Professionals, where he served as a Training Specialist developing curriculum, writing textbooks, and instructing at educational seminars. Tom's practice, established in 1991, provides tax services for approximately 1,000 clients. Tom earned his bachelor's degree from Southern Illinois University Edwardsville. He is an enrolled agent (EA).

Agenda

  1. What is a partnership?
  2. Electing out of subchapter K
  3. Capital accounts
    1. Computing capital accounts
    2. Distributions
    3. Guaranteed payments
  4. Partnership liabilities
    1. Recourse liabilities
    2. IRC §754 election
  5. Allocations
  6. Distributions, dispositions and terminations
    1. Taxability of distributions
    2. Hot assets
    3. Reporting sale/exchange of §751 property on Form 8308

Learning Objectives, CPE, and More

Learning Objectives: By attending this webinar, you will be able to:

  1. Advise clients about tax benefits associated with choosing a partnership entity form
  2. Compute capital accounts correctly on Schedule K-1 (Form 1065)
  3. Report tax on guaranteed payments properly
  4. Distinguish between recourse and nonrecourse loans
  5. Explain the benefits of making an IRC §754 election
  6. Explain when distributions may be taxable
  7. Identify which property is considered a "hot asset"
  8. Decide when to report a sale of a partnership interest on Form 8308
CPE credits Up to 1.5 based on attendance and completion of engagement activities
Field of Study (NASBA) Taxes (1.5)
IRS Categories Federal Tax (1)
CFP Taxation (1.5)
IL Insurance N/A
IL MCLE Taxation (1.25)

Please see our CPE FAQ for more information.

Delivery Method: Internet-Based Group

Program Level: Overview

Prerequisite(s): Professional experience in preparing tax returns and an understanding of basic tax rules and regulations.

2017 Fall Tax School Webinar: Partner Issues (Offered in December 2017 and January 2018)

About This Webinar

When tax professionals receive a Schedule K-1 (Form 1065) from a client who is a partner in a partnership, there are a number of areas where additional information is needed before the Form 1040 can be completed. Determining a partner's basis in the partnership is an important first step. Dealing with the effect of the three loss limitations is another essential component. Knowing which information reported on the K-1 to use and how it impacts basis, income, and loss for the partner prevents tax preparers from making costly errors on the partner's individual return. Some partners are required to pay self-employment tax and others are not. Knowing which situation applies to your client and calculating SE tax for them is one more important component of offering them high quality and accurate return preparation service.

About Our Speaker

Bob Rhea Bob Rhea has been associated with the Tax School since 2005 as an instructor and as a reviewer for the University of Illinois Federal Tax Workbook. Since 1984, he has assisted farmers with accounting, tax, and consulting services in west-central Illinois through the University of Illinois FBFM program. Bob is the national executive director for his professional organization, NAFBAS, and previously was that group's national president. Bob received his bachelor's degree from Western IL University and Master's degree from the University of Illinois. Bob is an enrolled agent (EA) and he lives in Camp Point with his wife, Debbie, sons Tracy and Casey, and daughter Ashley.

Agenda

  1. Overview of taxation of partnership income to partners and transactions between the partnership and partners
  2. Outside basis in partnership interest
    1. Basis rules
    2. Liabilities effect on basis
  3. The 3 Loss Limitations
  4. Taxable events for partners
    1. Guaranteed payments
    2. Self-employment income
    3. IRC §179 deductions
    4. Loans by a partner

Learning Objectives, CPE, and More

Learning Objectives: By attending this webinar, you will be able to:

  1. Appreciate the importance of basis and how to calculate it
  2. Differentiate the three loss limitations and calculate losses
  3. Use select information included on Schedule K-1 (Form 1065) when preparing returns for partners
  4. Determine self-employment income from the partnership
CPE credits Up to 1.0 based on attendance and completion of engagement activities
Field of Study (NASBA) Taxes (1)
IRS Categories Federal Tax (1)
CFP Taxation (1)
IL Insurance N/A
IL MCLE Taxation (1)

Please see our CPE FAQ for more information.

Delivery Method: Internet-Based Group

Program Level: Overview

Prerequisite(s): Professional experience in preparing tax returns and an understanding of basic tax rules and regulations.

2017 Fall Tax School Webinar: Investments (Offered in December 2017 and January 2018)

About This Webinar

With the significant increases in stock market values over the past few years, many taxpayers may experience a variety of income and gains to report. Although the consolidated Form 1099 is not new, there are multiple places on the form that report income and expenses. Some of which can be confusing. When is Form 8949 required and when can everything be reported on Schedule D? When must each transaction be listed separately on the Form 8949 and when can a summary be attached? When is a Form 6781 required and how is that income taxed?

Many tax professionals rarely deal with some investment-related activities such as reporting the sale of employer securities (ESOPs), and earnings on savings bonds. Although these activities are uncommon, it is important to know what to do when your client has these situations.

By attending this webinar, you will know what to look for and where to report it.

About Our Speaker

Catherine Riddick Catherine Riddick has been associated with the Tax School since 2008 as an instructor and as a reviewer for the University of Illinois Federal Tax Workbook. She is a CPA and licensed attorney with nearly 25 years of experience in tax planning and preparation. She worked for one of the large CPA firms in the Chicago area for 10 years and has had her own CPA firm in LaGrange, Illinois for the past 15 years. Catherine received a bachelor's degree from Old Dominion University in Norfolk, Virginia and a law degree from Washington and Lee University in Lexington, Virginia.

Agenda

  1. Unusual items found on investment statements
    1. Consolidated Form 1099
    2. Form 1099-DIV
  2. Complete Schedule D and Form 8949 using information from Form 1099-B
  3. Below-market loans and how to report interest income from these loans
  4. Employer securities (ESOPs) and tax savings strategies

Learning Objectives, CPE, and More

Learning Objectives: By attending this webinar, you will be able to:

  • Explain the appropriate treatment for unusual items found on the Consolidated Form 1099
  • Describe how to treat most items found on Form 1099-DIV
  • Complete Schedule D and Form 8949 using information contained on Form 1099-B
  • Identify types of below-market loans and apply rules for reporting the corresponding interest income
  • Advise clients about tax saving strategies related to employer stock ownership plans (ESOPs)
CPE credits Up to 1.0 based on attendance and completion of engagement activities
Field of Study (NASBA) Taxes (1.0)
IRS Categories Federal Tax (1)
CFP Taxation (1.0)
IL Insurance N/A
IL MCLE Taxation (0.75)

Please see our CPE FAQ for more information.

Delivery Method: Internet-Based Group

Program Level: Overview

Prerequisite(s): Professional experience in preparing tax returns and an understanding of basic tax rules and regulations.

2017 Fall Tax School Webinar: Installment Sales (Offered in December 2017 and January 2018)

About This Webinar

Tax professionals need to be aware of potential pitfalls associated with installment sales. Being aware of the rules and regulations can enable tax practitioners to adequately advise clients on strategies that will allow them to benefit from installment sales and avoid costly problems. If you have clients who may benefit from installment sales, this webinar will help you prepare them to successfully engage in this type of arrangement.

About Our Speaker

Debbie Held Debbie Held has been an instructor with the Tax School since 2000. She has also served as a chapter author and reviewer for the University of Illinois Federal Tax Workbook. She is a graduate of Sangamon State University (University of Illinois at Springfield). She has been employed by the IRS since 1979, spending time as a revenue agent, appeals officer and most recently as a project manager for the SBSE Communications, Liaison, and Disclosure Division. She previously taught various accounting courses at Lincoln Land Community College for 18 years. She is a certified public accountant (CPA) and resides in Raymond, Illinois where her family farms.

Agenda

  1. Define installment sale and the general rules governing these types of transactions
  2. Calculate installment sale income (reviewing several client examples)
  3. Electing out of installment method
  4. Receiving installment sale payments and how to treat the them
  5. Depreciation recapture and unrecaptured §1250 gain
    1. Sale of §1245 property and depreciation recapture
    2. Sale of §1250 property and depreciation recapture
  6. Disposition of an installment obligation
  7. Repossession of property sold under an installment sale
  8. Self-canceling installment note

Learning Objectives, CPE, and More

Learning Objectives: By attending this webinar, you will be able to:

  1. Describe when a client should or should not enter into an installment agreement
  2. Identify tax rules and consequences for various client scenarios involving the use of installment sales
CPE credits Up to 1.0 based on attendance and completion of engagement activities
Field of Study (NASBA) Taxes (1)
IRS Categories Federal Tax (1)
CFP Taxation (1)
IL Insurance N/A
IL MCLE Taxation (0.75)

Please see our CPE FAQ for more information.

Delivery Method: Internet-Based Group

Program Level: Overview

Prerequisite(s): Professional experience in preparing tax returns and an understanding of basic tax rules and regulations.

2017 Fall Tax School Webinar: Individual Taxpayer Issues (Offered in December 2017 and January 2018)

About This Webinar

With the advent of online transactions and the use of technology in commerce, new peer-to-peer networks have formed to provide services. The sharing economy involves direct transactions between individuals in which a supplier provides goods or services to a consumer. Determining whether the income collected by the supplier is taxable and subject to self-employment tax is not as straightforward as you might expect. If someone rents real property but does so for 14 days or less, must they claim the income? Can they deduct any expenses? Are drivers who provide rideshare services classified as employees or independent contractors? What expenses are deductible for these drivers?

Although self-directed IRAs have been in existence for many years, there are pitfalls that clients need to be aware of if they decide to utilize this arrangement. Tax professionals should be able to explain prohibited transactions to their clients to help them avoid costly mistakes with the IRA. In addition, when the tax professional receives a Schedule K-1 for the IRA, is it clear what information needs to be attended to and whether the taxpayers is liable for unrelated business income tax? Like many tax professionals, do you set the Schedule K-1 aside thinking it's not important for completing your client's return? Think again.

Do you want to save your clients the expense of a private letter ruling when they miss the 60-day rollover requirement for retirement plan funds? Beginning in August 2016, the IRS provides self-certification procedures to waive penalties associated with missing the 60-day rollover deadline. A model letter is provided in the materials.

About Our Speaker

Debbie Held Debbie Held has been an instructor with the Tax School since 2000. She has also served as a chapter author and reviewer for the University of Illinois Federal Tax Workbook. She is a graduate of Sangamon State University (University of Illinois at Springfield). She has been employed by the IRS since 1979, spending time as a revenue agent, appeals officer and most recently as a project manager for the SBSE Communications, Liaison, and Disclosure Division. She previously taught various accounting courses at Lincoln Land Community College for 18 years. She is a certified public accountant (CPA) and resides in Raymond, Illinois where her family farms.

Agenda

  1. Crowdfunding and the sharing economy
  2. Self-directed IRAs
    1. Prohibited transactions
    2. Investing
    3. IRS scrutiny
    4. Unrelated business income
  3. Waiver of the 60-day rollover period
    1. Self-certification procedures
    2. Effect of self-certification

Learning Objectives, CPE, and More

Learning Objectives: By attending this webinar, you will be able to:

  • Determine whether sharing economy income is taxable and subject to self-employment tax
  • Decide when a client may need to file Form 990-T for their IRA
  • Explain procedures for using the 60-day rollover waiver
CPE credits Up to 1.0 based on attendance and completion of engagement activities
Field of Study (NASBA) Taxes (1)
IRS Categories Federal Tax (1)
CFP Taxation (1)
IL Insurance N/A
IL MCLE Taxation (0.75)

Please see our CPE FAQ for more information.

Delivery Method: Internet-Based Group

Program Level: Overview

Prerequisite(s): Professional experience in preparing tax returns and an understanding of basic tax rules and regulations.

2017 Fall Tax School Webinar: Putting Ethics Into Practice (Offered in December 2017 and January 2018)

About This Webinar

A tax professional's practice before the IRS is governed by regulations established in Circular 230. Client situations can occasionally give rise to ethical challenges for tax professionals even when they are sincere in their adherence to Circular 230. This 2-hour webinar includes various client situations and proposes ways to navigate ethical challenges presented by clients.

This course will look at scenarios between tax preparers and clients on topics such as:

  • Hobby loss
  • PATH Act
  • Divorced individuals filing separately
  • Inadequate previous information
  • Amended returns
  • Use of social media
  • New audit client

About Our Speaker

Bob Rhea Bob Rhea has been associated with the Tax School since 2005 as an instructor and as a reviewer for the University of Illinois Federal Tax Workbook. Since 1984, he has assisted farmers with accounting, tax, and consulting services in west-central Illinois through the University of Illinois FBFM program. Bob is the national executive director for his professional organization, NAFBAS, and previously was that group's national president. Bob received his bachelor's degree from Western IL University and Master's degree from the University of Illinois. Bob is an enrolled agent (EA) and he lives in Camp Point with his wife, Debbie, sons Tracy and Casey, and daughter Ashley.

Agenda

  1. Client scenario dealing with hobby loss
  2. Client scenario dealing with the PATH Act
  3. Client scenario dealing with divorced individuals filing separately
  4. Client scenario dealing with inadequate previous information
  5. Client scenario dealing with amended returns
  6. Client scenario dealing with use of social media
  7. Client scenario dealing with new audit client
  8. Client scenario dealing with a public setting

Learning Objectives, CPE, and More

Learning Objectives: By attending this webinar, you will be able to:

  • Apply sections of Circular 230, Regulations Governing Practice before the Internal Revenue Service, to your everyday tax practice.
CPE credits Up to 2.0 based on attendance and completion of engagement activities
Field of Study (NASBA) Regulatory Ethics (2)
IRS Categories Regulatory Ethics (2)
CFP Taxation (2)
IL Insurance N/A
IL MCLE Professional Responsibility (1.75)

Please see our CPE FAQ for more information.

Delivery Method: Internet-Based Group

Program Level: Overview

Field of Study: Regulatory Ethics (this webinar qualifies for CFP general CPE but not CFP "Ethics" CPE)

Prerequisite(s): Professional experience in preparing tax returns and an understanding of basic tax rules and regulations.

2017 Fall Tax School Webinar: Employment Issues (Offered in December 2017 and January 2018)

About This Webinar

Tax issues associated with employment require employers to properly report tens of thousands of dollars in payroll taxes. Proper classification of workers is required. Occasionally, employers who want to save on employment tax misclassify workers as independent contractors. Many times, these workers are actually employees.

In addition to employee classification, this webinar includes other employment issues such as: reporting household worker compensation on Schedule H; providing employee compensation in the form of property; the tax treatment of legal awards and settlements; tax treatment of moving expenses for a worker; taxation of fringe benefits; and employer responsibilities associated with foreign workers.

About Our Speaker

Tom O'Saben Tom O'Saben has been an instructor for the Tax School since 2009. During that time, he has also been a presenter with the National Association of Tax Professionals, where he served as a Training Specialist developing curriculum, writing textbooks, and instructing at educational seminars. Tom's practice, established in 1991, provides tax services for approximately 1,000 clients. Tom earned his bachelor's degree from Southern Illinois University Edwardsville. He is an enrolled agent (EA).

Agenda

  1. Employee vs. independent contractor classification of workers
    1. Right-to-control test
    2. 3 Categories — Financial control, behavior control, relationship to parties
    3. Tax court test
    4. IRS enforcement
    5. Relief provisions
  2. Dealing with excess social security tax payments
  3. Receipt of property as compensation
  4. Legal expenses in connection with employment
  5. Legal awards and settlements
    1. Damage awards
    2. Workers' compensation benefits
    3. Disability insurance
    4. Accident or health insurance
  6. Treatment of moving expenses
  7. Fringe benefits taxation
  8. Statutory employees and nonemployees
  9. Household employees and Schedule H
  10. Employer responsibilities associated with foreign workers

Learning Objectives, CPE, and More

Learning Objectives: By attending this webinar, you will be able to:

  1. Differentiate workers classified as employees vs. independent contractors
  2. Identify various relief provisions for misclassified workers
  3. Comply with reporting requirements for household workers
  4. Explain reporting procedures when an employee receives payments other than cash for services
CPE credits Up to 1.5 based on attendance and completion of engagement activities
Field of Study (NASBA) Taxes (1.5)
IRS Categories Federal Tax (1)
CFP Taxation (1.5)
IL Insurance N/A
IL MCLE Taxation (1.25)

Please see our CPE FAQ for more information.

Delivery Method: Internet-Based Group

Program Level: Overview

Prerequisite(s): Professional experience in preparing tax returns and an understanding of basic tax rules and regulations.

2017 Fall Tax School Webinar: Beneficiary and Estate Issues (Offered in December 2017 and January 2018)

About This Webinar

Don't have high-income clients with sophisticated estate plans? This webinar contains information for helping all your clients, regardless of wealth and income. It also helps you advise clients who are beneficiaries of estates. Some questions to be answered during this webinar include:

  • Is the portability election beneficial only for high-income taxpayers?
  • What are planning pointers for moderate-wealth taxpayers?
  • Does every client need a will?
  • When can simplified reporting be used for Form 706?
  • Have you missed the deadline for filing an estate tax return for 2011? You may still have time to file under Rev. Proc. 2017-34.
  • Who needs to file Form 8971? Have any of your clients received a Schedule A of Form 8971 as beneficiaries of an estate?
  • Where do you report the expenses associated with selling a decedent's principal residence?

About Our Speaker

Catherine Riddick Catherine Riddick has been associated with the Tax School since 2008 as an instructor and as a reviewer for the University of Illinois Federal Tax Workbook. She is a CPA and licensed attorney with nearly 25 years of experience in tax planning and preparation. She worked for one of the large CPA firms in the Chicago area for 10 years and has had her own CPA firm in LaGrange, Illinois for the past 15 years. Catherine received a bachelor's degree from Old Dominion University in Norfolk, Virginia and a law degree from Washington and Lee University in Lexington, Virginia.

Agenda

  1. Estate taxes — transfer taxes
    1. Unlimited between spouses
    2. Portability election
    3. IL estate tax
  2. Estate planning basics
    1. Joint tenancy
    2. Transfer on death (TOD)
    3. Wills
    4. By-pass and credit shelter trusts
  3. Estate issues
    1. Basis step up
    2. Power of appointments
    3. Closing letter
    4. Form 8971
  4. Taxable income of estates/trusts
    1. Distributions of income from estates
    2. Sale of decedent's personal residence
  5. Estate termination
    1. Timing
    2. Excess deductions
    3. Executor fees and administrative costs
  6. Other beneficiary issues
    1. Discounts on family limited partnerships
    2. Life estates and remainder estates

Learning Objectives, CPE, and More

Learning Objectives: By attending this webinar, you will be able to:

  1. Make a portability election on Form 706
  2. Determine whether an estate has a filing requirement
  3. Report the sale of a decedent's personal residence properly
  4. Recognize planning techniques for achieving income tax basis step up for beneficiaries
  5. Recognize the importance of distribution and termination timing from an income tax planning perspective for beneficiaries
CPE credits Up to 1.5 based on attendance and completion of engagement activities
Field of Study (NASBA) Taxes (1.5)
IRS Categories Federal Tax (1)
CFP Taxation (1.5)
IL Insurance N/A
IL MCLE Taxation (1.25)

Delivery Method: Internet-Based Group

Program Level: Overview

Prerequisite(s): Professional experience in preparing tax returns and an understanding of basic tax rules and regulations.

2017 Fall Tax School Webinar: Agricultural Issues and Rural Investments (Offered in December 2017 and January 2018)

About this Webinar

The Tax Code contains unique rules that impact farm taxation. This session includes information about some of the latest issues affecting farm clients. For example, one of the newest construction trends in production agriculture requires tax preparers to choose wisely when selecting among depreciation methods... what the HOOP is up with farm building depreciation? For farm clients who experienced a poor financial year, use of a net operating loss can provide a significant benefit. For these clients, the IRS may be their best friend this year! Is it possible for farmers to obtain double deductions? The Backemeyer court case provides an interesting set of facts and outcomes.

If you serve farm clients, this webinar will help you stay current on important issues within this specialized area of tax practice.

About Our Speaker

Bob Rhea Bob Rhea has been associated with the Tax School since 2005 as an instructor and as a reviewer for the University of Illinois Federal Tax Workbook. Since 1984, he has assisted farmers with accounting, tax, and consulting services in west-central Illinois through the University of Illinois FBFM program. Bob is the national executive director for his professional organization, NAFBAS, and previously was that group's national president. Bob received his bachelor's degree from Western IL University and Master's degree from the University of Illinois. Bob is an enrolled agent (EA) and he lives in Camp Point with his wife, Debbie, sons Tracy and Casey, and daughter Ashley.

Agenda

  1. Farm audit issues
    1. Hobby farms
    2. Meals and lodging furnished to employees
  2. C corporation penalty taxes and methods to avoid these
    1. Accumulated earnings
    2. Personal holding company
  3. Cash method of accounting for farmers
    1. Backemeyer case
  4. Depreciation strategies in agriculture
    1. HOOP structures
    2. Tangible personal property regulations
    3. Use of §179 even if a loss results
  5. Tax-related loss issues in agriculture
    1. NOL — 5-year/2-year carryback
    2. Farm Service Agency excess losses
  6. Using Schedule J to manage farm income
  7. Financial distress
    1. Chapter 12 eligibility

Learning Objectives, CPE, and More

Learning Objectives: By attending this webinar, you will be able to:

  • Explain the IRS pilot project for Hobby Schedule F
  • Determine when accumulated earnings tax and personal holding company tax applies to C corporations
  • Explain the tax benefit provisions decided in the Backemeyer case
  • Evaluate choices for depreciation method of HOOP structures
  • Identify the options for farm NOL utilization
  • List the eligibility rules for Chapter 12 bankruptcy
CPE credits Up to 1.0 based on attendance and completion of engagement activities
Field of Study (NASBA) Taxes (1)
IRS Categories Federal Tax (1)
CFP Taxation (1)
IL Insurance N/A
IL MCLE Taxation (0.75)

Delivery Method: Internet-Based Group

Program Level: Overview

Prerequisite(s): Professional experience in preparing farm tax returns and an understanding of basic tax rules and regulations.

2016 Illinois Tax Update (Offered in January of 2017)

About this Webinar

It's important to stay up-to-date on important tax information for the state of Illinois. This webinar will cover a number of key areas that are significant to you as a tax practitioner, as well as to your clients. Find out about the following topics.

  • Procedures an identity-theft victim should follow to notify the state and to request a copy of a fraudulently filed tax return
  • Allowable subtractions from Illinois income for federally taxed social security and other retirement income
  • How IRS proposed regulations affect the formation and taxation of Illinois series LLCs
  • How to determine if a business has nexus with other states
  • What an employer's tax withholding requirements are for Illinois and neighboring states
  • How an Illinois trust should classify receipts as income or principal
  • When an Illinois trust should withhold Illinois income tax from a beneficiary's share of income

About our Speaker

Debbie Held

Debbie Held has been an instructor with the Tax School since 2000. She has also served as a chapter author and reviewer for the University of Illinois Federal Tax Workbook. She is a graduate of Sangamon State University (University of Illinois at Springfield). She has been employed by the IRS since 1979, spending time as a revenue agent, appeals officer and most recently as a project manager for the SB/SE Communications and Stakeholder Outreach Division. She previously taught various accounting courses at Lincoln Land Community College for 18 years. She is a certified public accountant (CPA) and resides in Raymond, Illinois where her family farms.

Webinar Agenda

Webinar Agenda PDF

Learning Objectives, CPE, and More

Learning Objectives: By attending this webinar, you will be able to:

  • Identify recently enacted Illinois tax legislation and its impact on taxpayers and tax preparers.
  • Describe IDOR's response and recommendations to address identity theft.
  • Review procedures for reporting retirement earnings and allowed subtractions.
  • Apply NEXUS rules to taxpayer business situations involving sales of good and services across state lines.
  • Describe employers' withholding requirements for compensation paid in Illinois and neighboring states.
  • Review Illinois tax procedures associated with designation of trust receipts as income or corpus and the withholding requirements for beneficiary distributions.

CPE Credits: Up to 1.5, based on attendance and completion of engagement activities.

Delivery Method: Internet-Based Group

Program Level: Overview

Field of Study: Taxes

Prerequisite(s): Experience in preparing Illinois tax returns and an understanding of basic tax rules and regulations.

Advanced Preparation: None

Audience: Tax professionals

Transforming Your Office with Technology (Offered in January of 2015)

Learn best practices for the tax professional's office such as converting to a paperless office, using electronic signatures with engagement letters and Form 8879, client information security measures, using technology to engage staff, improving your profits and freeing up time during tax season.

Topics include:

  • Circular 230 responsibilities for client information
  • Are emails really safe? What alternatives do I have?
  • Am I at risk for a security breach?
  • What do I do when a security breach happens? What will it cost?
  • Why move to the Cloud and best practices for cloud security?
  • Whose mobile device is it and what type of security/policies do you have for use?
  • Using technology to improve bottom-line performance and attract talent
  • Cool gadgets/ideal technology set-up

About our Speaker

Catherine Riddick has been associated with the Tax School since 2008 as an instructor and as a reviewer for the University of Illinois Federal Tax Workbook. She is a CPA and licensed attorney with nearly 25 years of experience in tax planning and preparation. She worked for one of the large CPA firms in the Chicago area for 10 years and has had her own CPA firm in LaGrange, Illinois for the past 15 years. Catherine received a bachelor's degree from Old Dominion University in Norfolk, Virginia and a law degree from Washington and Lee University in Lexington, Virginia.

Webinar Agenda

Webinar Agenda PDF

Learning Objectives, CPE, and More

Learning Objectives: By attending this seminar, you will be able to:

  • Review a tax practitioner's Circular 230 requirements as the rules apply to client information
  • Identify opportunities within a tax practice for using technology to transform office practices
  • Describe pros and cons of various technology tools such as email, Cloud storage and communicating via mobile devices
  • Evaluate risks of security breaches and identify steps to take when one happens
  • Assess the return on investment associated with transforming office practices with technology
  • Decide which technology tools are best for your office transformation

CPE Credits: Up to 2, based on attendance and completion of engagement activities.

Delivery Method: Internet-Based Group

Program Level: Basic

Field of Study: Business Management & Organization

Prerequisite(s): A basic understanding of computer use and how to access the Internet is required.

Illinois 2013 Tax Changes (Offered in January of 2014)

This webinar discusses Illinois tax changes enacted within the past year. Learn about the latest IDOR developments, issues, and alerts that the tax professional should know before filing season begins. Get updated on the Illinois tax rules in various areas including the residency rules, estate taxes, pass-through reporting for trusts and partnerships, and tax reporting in Illinois for multistate businesses.

Learn answers to these questions:

  • How are clients affected by the latest case law developments with the Illinois residency rules?
  • How are trust and partnership pass-through items reported in Illinois?
  • How are the Illinois estimated tax rules different than the federal rules and how can penalties be avoided?
  • When is a multistate business subject to Illinois tax and how should income and expenses attributable to Illinois be reported?
  • Can an Illinois QTIP election be used separately from the federal election?
  • How will the new Illinois Independent Tax Tribunal (effective January 1, 2014) impact tax disputes with IDOR?

About our Speaker

Marc Lovell is Assistant Director, Tax Outreach, at the University of Illinois Tax School. Prior to joining Tax School, he worked in his private law practice (2001-2010) with principal area of practice in federal, state, and local taxation and tax litigation. Marc serves as assistant editor of the annual Federal Tax Workbook and co-authored Limited Liability Companies: Choosing Partnership versus S Corporation Status. Marc earned his law degree and Masters of Law in Taxation from Wayne State University.

Marc is a member of the Massachusetts Bar, Washington DC Bar, and U.S. Tax Court Bar. He sat on the Massachusetts Bar Association Taxation Section Council from 2005 to 2009 where he worked on various legislative initiatives, research projects, and technical articles and analyses for tax practitioners.

Webinar Agenda

Webinar Agenda PDF

Learning Objectives, CPE, and More

Learning Objectives: By attending this seminar, you will be able to:

  • Identify strategies to help avoid Illinois estimated tax penalties.
  • Describe recent developments and case law associated with the Illinois residency rule and how this affects taxpayers, including "snowbird" clients who spend winters outside of Illinois.
  • Report Illinois pass-through items on Illinois Schedules K-1-T (for trusts) and K-1-P (for partnerships).
  • Review Illinois estate tax rules, estate tax calculations, and tax reporting on Illinois Form 700.
  • Explain timely filing season information such as IDOR identity theft measures, debit-card option for refunds, and how the Illinois Independent Tax Tribunal operates.

CPE Credits: Up to 2, based on attendance and completion of engagement activities.

Delivery Method: Internet-Based Group

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations.

Taxes After DOMA: Amending Returns and Other Same-Sex Marriage Issues (Offered in January of 2014)

The Supreme Court's landmark decision in U.S. v. Windsor on June 26, 2013 has already had a major impact on several tax areas for same-sex couples. In light of this decision, the IRS announced that individuals of the same sex will be considered lawfully married for all federal tax purposes as long as they were legally married in a jurisdiction that authorizes such marriages. By attending this seminar, the tax professional will gain essential information about how post-DOMA regulations impact a same-sex married couple's income tax, estate tax, and gift tax status and whether it is beneficial to amend returns for open years. This webinar also covers other same-sex marriage tax-related considerations such as employee benefits.

About Our Speaker

Steven G. Siegel, JD, LLM, is president of The Siegel Group, based in Morristown, New Jersey. The company provides consulting services to attorneys, accountants, business owners, family offices and financial planners. Steven has delivered hundreds of lectures to thousands of attendees throughout the United States on tax, business and estate planning topics. He is presently serving as Adjunct Professor of Law in the Graduate Tax Program (LLM) at the University of Alabama. He also has served as an Adjunct Professor of Law at Seton Hall and Rutgers University Law Schools.

Webinar Agenda

Webinar Agenda PDF

Learning Objectives, Materials and More

Learning Objectives: By attending this seminar, you will be able to:

  • Identify how interaction of federal tax law and applicable state law impacts same-sex couples
  • Recognize areas of post-DOMA tax law that are relevant for same-sex couples
  • Analyze whether amended tax returns are beneficial for same-sex couples
  • Advise same-sex couples on post-DOMA tax regulations

CPE Credits: Up to 3, based on attendance and completion of engagement activities.

Delivery Method: Internet-Based Group

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations.

Illinois 2012 Tax Changes (Offered in January of 2013)

Presented with the Illinois Department of Revenue, this webinar discusses Illinois tax changes enacted within the past year. Represented from IDOR will be on hand to answer your questions.

About our Speakers

Adrianne Suits Bailey currently works in the Electronic Commerce Division at the Illinois Department of Revenue. She is an outreach coordinator and is currently acting as the project manager for MyTax Illinois. Adrianne has a Bachelor of Arts and Master of Arts in Communication from the University of Illinois at Springfield. She has worked for IDOR for 13 years.

Donald D. Gibbs is currently an electronic commerce administrator for the Illinois Department of Revenue's Electronic Commerce Division. His roles at the Department include reviewing IL-1040, ST-1, and IL-941 transmissions, dealing with software developers, and answering tax preparer questions regarding rejected returns. At this time he also continues coordinating professional education and training seminars concerning electronic commerce and managing the IL-941 WebFile program. He formerly oversaw programs including: the Fed/State EFTPS program for Illinois withholding payments, the Sales Tax TeleFile program, and the Fed/State Individual Income Tax TeleFile program.

Donald holds a Bachelor of Science degree in Business Management from Southern Illinois University at Carbondale and earned his Master of Business Administration degree from University of Illinois at Springfield.

Learning Objectives, Materials and More

Learning Objectives: By attending this seminar, you will be able to:

  • Utilize MyTax, the new online account management service offered by IDOR .
  • Advise clients about the electronic filing options for Illinois withholding taxes.
  • Prevent Illinois income tax filing errors by understanding the most prevalent errors.

CPE Credits: Up to 2, based on attendance.

Delivery Method: Internet-Based Group

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations.

American Taxpayer Relief Act of 2012 (Offered in January of 2013)

Don't miss this opportunity to learn about the American Tax Relief Act of 2012. This webinar highlights the tax law changes in the 154-page bill. Coverage includes tax increases for high-income taxpayers, capital gain rate update, depreciation, the permanent patching of AMT, education credits, the elimination of the payroll tax holiday, and estate and gift tax changes.

About our Speaker

Gary J. Hoff, EA is an Extension Specialist in Taxation and Associate Director at the University of Illinois Tax School. He is the author of numerous tax education materials, including LLCs Taxed as Partnerships: Formation to Dissolution. He is the editor of the annual Federal Tax Workbook used during the Fall Tax School offered by the University of Illinois Tax School. He presents tax topics nationally, specializing in Agricultural Taxation and Business Taxation topics. Additionally, Gary has over 30 years experience preparing tax returns.

Learning Objectives, Materials and More

Learning Objectives: By attending this seminar, you will be able to:

  • Answer client questions regarding the impact of the ATRA on their taxes
  • Plan for tax advantages offered by the ATRA
  • Discuss individual and business tax relief

CPE Credits: Up to 1, based on attendance.

Delivery Method: Internet-Based Group

Program Level: Intermediate

Field of Study: Taxes

IRS CPE Category: Federal Tax Update

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations.

Options for Financially Distressed Clients (Offered in October of 2012)

In this webinar, you will learn various tax considerations to help your financially distressed clients. We'll provide an overview of typical bankruptcy proceedings and cover special bankruptcy tax rules and the discharge of tax debts. We'll also cover options regarding retirement assets, "creditor-proof" accounts, forced distributions, and tax penalty exceptions. In addition, you will analyze actions that affect credit scores.

About our Speaker

Marc Lovell is a Tax Materials Specialist at the University of Illinois Tax School. Prior to joining Tax School, he worked in his private law practice (2001-2010) with principal area of practice in federal, state, and local taxation and tax litigation. Marc serves as assistant editor of the annual Federal Tax Workbook and co-authored Limited Liability Companies: Choosing Partnership versus S Corporation Status. Marc earned his law degree and Masters of Law in Taxation from Wayne State University.

Marc is a member of the Massachusetts Bar, Washington DC Bar, and U.S. Tax Court Bar. He sat on the Massachusetts Bar Association Taxation Section Council from 2005 to 2009 where he worked on various legislative initiatives, research projects, and technical articles and analyses for tax practitioners.

Learning Objectives, Materials and More

Learning Objectives: By attending this seminar, you will be able to:

  • Describe a typical bankruptcy proceeding
  • Explain how retirement assets, "creditor-proof" accounts, forced distributions and tax penalty exceptions are treated
  • Review special bankruptcy tax rules and the discharge of tax debts
  • Identify actions that affect credit scores

CPE Credits: Up to 2, based on attendance.

Delivery Method: Internet-Based Group

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations.

Illinois Series LLCs (Offered in September of 2012)

This webinar will examine Series LLCs in Illinois, including statutory provisions and requirements for a Series LLC. You will explore the benefits of using a series LLC including liability protection considerations. We'll discuss legal issues regarding Series LLCs and early judicial decisions and cover the IL Series LLC formation process. You will also review filing tax returns for Series LLCs.

About our Speaker

Marc Lovell is Assistant Director, Tax Outreach, at the University of Illinois Tax School. Prior to joining Tax School, he worked in his private law practice (2001-2010) with principal area of practice in federal, state, and local taxation and tax litigation. Marc serves as assistant editor of the annual Federal Tax Workbook and co-authored Limited Liability Companies: Choosing Partnership versus S Corporation Status. Marc earned his law degree and Masters of Law in Taxation from Wayne State University.

Marc is a member of the Massachusetts Bar, Washington DC Bar, and U.S. Tax Court Bar. He sat on the Massachusetts Bar Association Taxation Section Council from 2005 to 2009 where he worked on various legislative initiatives, research projects, and technical articles and analyses for tax practitioners.

Learning Objectives, Materials and More

Learning Objectives: By attending this seminar, you will be able to:

  • Review IL statutory provisions and requirements for an IL Series LLC
  • Discuss the benefits of using a Series LLC including liability protection considerations
  • Describe the IL Series LLC formation process
  • Explain legal issues with Series LLCs and early judicial decisions
  • File federal tax returns for Series LLCs

CPE Credits: Up to 2, based on attendance.

Delivery Method: Internet-Based Group

Program Level: Intermediate

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations.

Illinois 2011 Tax Changes (Offered in January of 2012)

Presented with the Illinois Department of Revenue, this webinar discusses Illinois tax changes enacted within the past year. This webinar is free to attend; no CPE credit is available for this webinar.

About our Speakers

Donald D. Gibbs is a Continuing Education and Marketing Coordinator, as well as a Project Manager for the Illinois Department of Revenue's Electronic Commerce Division. His roles at the Department include coordinating professional education and training seminars concerning electronic commerce, overseeing the Department's sales tax TeleFile program, and managing the IL-941 WebFile program. He also assists in developing and promoting marketing campaigns for the Electronic Filing Section at the Illinois Department of Revenue. He formerly oversaw the Fed/State EFTPS program for Illinois withholding payments.

Donald holds a Bachelor of Science degree in Business Management from Southern Illinois University at Carbondale and earned his Master of Business Administration degree from University of Illinois at Springfield.

Adrianne L. Suits is a Project Manager and Marketing Coordinator for the Illinois Department of Revenue's Electronic Commerce Division. Her roles at the Department include coordinating professional education and training seminars concerning electronic commerce, overseeing the Department's electronic W-2 filing program, and developing and managing projects as they are initiated. She also assists in developing and promoting marketing campaigns for the Electronic Filing Section at the Illinois Department of Revenue.

Adrianne holds a Bachelor of Arts degree in Communications from the University of Illinois at Springfield and earned her Master of Arts in Communication degree with an emphasis on Public Relations and Organizational Communication from the University of Illinois at Springfield.

Learning Objectives, Materials and More

Learning Objectives: By attending this seminar, you will be able to:

  • Describe Illinois tax changes enacted in 2011
  • Plan for the 2011 filing season

CPE Credits: No CPE credit is being offered for this webinar.

Delivery Method: Internet-Based Group

Program Level: Basic

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations.

This was a free webinar that offered no CPE.

Tax Legislation Update (Offered in January of 2011)

The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (HR 4853), which President Obama signed into law on December 17, 2010, is much more than an extender bill of the Bush-era tax cuts.

A few of the important provisions that were covered in the webinar include:

  1. The 50% bonus depreciation was increased to 100% for qualifying purchases after September 8, 2010, and before January 1, 2012. The 50% bonus depreciation will be available for 2012 purchases. This can have a major impact on the Illinois state income tax.
  2. The $500,000 IRC §179 deduction is extended to years beginning in 2011. For years after 2011 the limit is $125,000 (indexed for inflation.)
  3. The employees' share of FICA was reduced from 6.2% to 4.2% for calendar year 2011 earnings. This will require a change in the payroll tax tables. Workers that are included in state and local retirement plans rather than social security will not benefit from this change.
  4. Individual income tax rates and the capital gains/dividend rate are extended for two more years.
  5. The federal estate tax exemption was set at $5 million at a rate of 35% for taxpayers dying after December 31, 2009. The estate assets will receive a stepped-up basis. However, the estate can elect to use the old 2010 law with no estate tax and using a carryover basis.

About our Speaker

Gary J. Hoff, EA is an Extension Specialist in Taxation at the University of Illinois Tax School. He is the author of numerous tax education materials, including LLCs Taxed as Partnerships: Formation to Dissolution. He is the editor of the annual Federal Tax Workbook used during the Fall Tax School offered by the University of Illinois Tax School. He presents tax topics nationally, specializing in Agricultural Taxation and Business Taxation topics. Additionally, Gary has over 30 years experience preparing tax returns.

Learning Objectives, Materials and More

Learning Objectives: By attending this seminar, you will be able to:

  • Answer client questions regarding the impact of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 on their taxes
  • Plan for tax advantages offered by the Act
  • Discuss individual and business tax relief

CPE Credits: 1 CPE credit, based on the length of your attendance.

Delivery Method: Internet-Based Group

Program Level: Basic

Field of Study: Taxes

Prerequisite(s): Experience in preparing tax returns and an understanding of basic tax rules and regulations.

This webinar discusses Illinois tax changes enacted within the past year. All attendees were eligible to receive 1 hour of CPE.

Illinois Tax Changes (Offered in December of 2010)

Presented with the Illinois Department of Revenue, this webinar discusses Illinois tax changes enacted within the past year. All attendees were eligible to receive 1 hour of CPE.

Preparer Licensing (Last offered in 2010)

Starting September 1, 2010, the IRS will require all paid tax return preparers to register and obtain Preparer Tax Identification Numbers (PTIN). Preparers that currently have an IRS assigned PTIN must reregister, but will be issued the same PTIN. Other requirements for paid tax return preparers include competency tests, CPE requirements, and ethics training.

Because of the complexity of this new IRS ruling, the University of Illinois Tax School offered a free webinar that shed some light on the new rules and requirements for tax preparers. This webinar was held on Wednesday, May 26.

Topics covered included:

  • Who is affected by the new licensing requirement?
  • What is required and what are the deadlines to meet these requirements?
  • What is the continuing education requirement and when does it begin?
  • What happens if I'm not in compliance?

CPE Credit: This webinar offered no CPE credit.

About our Speakers

Gary J. Hoff, EA is an Extension Specialist in Taxation at the University of Illinois Tax School. He is the author of numerous tax education materials, including LLCs Taxed as Partnerships: Formation to Dissolution. He is the editor of the annual Federal Tax Workbook used during the Fall Tax School offered by the University of Illinois Tax School. He presents tax topics nationally, specializing in Agricultural Taxation and Business Taxation topics. Additionally, Gary has over 30 years experience preparing tax returns.

Leann Ruf is currently the Communications Project Lead for the implementation of the new IRS Return Preparer Regulations. She is responsible for development of a strategy to inform over one million federal tax return preparers, 100,000 IRS employees, and millions of taxpayers about the landmark effort to increase oversight of return preparers. Previously, Leann was the Chief of External Communications for the IRS Small Business/Self-Employed Division and has held numerous other positions since joining the IRS in 1986 including more than ten years with the Taxpayer Advocate Service. Leann resides in Nashville, Tennessee, and holds a Bachelors Degree in Economics from Tennessee Technological University.

Last updated 1/25/2018 2:11:13 PM

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