Help Your Clients Avoid Potential Penalties
Related to Section 199A This Tax Season!
The Section 199A statute and regulations have left many CPAs and other tax professionals with many common questions unanswered. Well into the tax season, it is imperative that practitioners evaluate what position to take and whether there is sufficient authority. Part of this analysis is determining what, if any, penalties might apply should the IRS audit.
In particular, estate planning professionals also need to be aware of the impact of the Section 6662(b)(2) substantial-understatement penalty. For taxpayers that decide to take a Section 199A deduction, there’s a special rule that decreases the threshold which triggers this penalty. With a basic understanding of how to disclose positions and demonstrate sufficient authority for the position, the this penalty can be avoided.
That is why you will want to join us and nationally renowned CPA and tax expert, Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA, in one of Bob’s most timely, insightful and actionable presentations yet entitled, “Penalty Proofing 199A Issues When Filing Income Tax Returns”. Joining Bob will be nationally recognized tax lawyer, Michael G. Goller, J.D. Michael brings an unmatched level of understanding and expertise of the law with a practical approach on how to help better protect your clients.
During this 60-minute presentation, Bob and Michael will address the following:
- Framing out the critical potential penalties with Section 199A issues
- Reviewing the trade or business issue and the multi-entity issue
- Addressing aggregation elections and penalties and Notice 2019-7 Elections
- The separate and separable issue
- The statutory employee issue
- A look at the multiple trust rules and the impact of these particular provisions
- A review of the potential penalties under the Internal Revenue Code
- Understanding the levels of assurance for penalty waivers
- Utilizing opinion letters to reduce a client’s potential exposure
- How and when to use Form 8275 disclosures
- And much more!
Your purchase includes: Downloadable PDF handout materials and an MP3 audio recording for just $99. A PDF transcript to your purchase during the checkout process for an additional fee.