Learning Objectives:

• Determine the prospects for tax legislation for the remainder of the year, including extenders.
• Distinguish the IRS’ efforts to clear its processing backlogs before the upcoming filing season.
• Analyze the AICPA’s updated tax ethical standards – the Statements on Standards for Tax Services.
• Identify insights into possible 2025 tax legislative proposals and IRS continuing implementation of Inflation Reduction Act of 2022.
• Calculate the AICPA’s efforts to help members improve the efficiency of their tax practices.

Many of the tax changes put in place as part of the TCJA will be expiring next year. A full extension would cost trillions of dollars, letting them expire in full is likely a political non-starter. Furthermore, lawmakers will have to grapple with the return of the debt-ceiling, the expiration of the current spending caps, and the challenges in Social Security and Medicare’s trust funds. With an unsustainable fiscal picture, high levels of political partisanship, and a presidential campaign that has not included a plan to address any of these issues, none of these issues will be simple to resolve.

Learning Objectives:

• Analyze the state of the U.S. fiscal situation
• Determine specific challenges in 2025
• Identify options for how to change our unsustainable trajectory

Learning Objectives:

• Analyze 2024 rulings that represent new legal interpretations for individual income taxation.
• Identify tax planning and compliance points from any 2024 federal tax legislation and key 2024 court cases, regulations and IRS rulings.
• Identify due diligence actions highlighted by 2024 individual tax law developments and upcoming TCJA changes.

Learning Objectives:

• Identify the common international information returns and their filing requirements.
• Identify delinquent penalties for late international information returns and assessment procedures.
• Apply abatement techniques for penalties related to Forms 5471 and 5472.
• Distinguish the delinquent international information return submission procedures and other disclosure procedures.
• Apply abatement techniques for penalties related to Forms 3520 and 3520-A.

Learning Objectives:

• Identify the changes to the tax law slated to take effect on December 31, 2025 and how they will influence a taxpayer's choice of entity.
• Recognize the key considerations a passthrough entity should take into account before converting to a C corporation.

Learning Objectives:

• Identify the non-estate tax planning aspects of an estate planning engagement, including necessary lifetime and testamentary documents, and the importance of proper beneficiary designations.
• Analyze the various income tax and financial matters relevant to a client's estate plan including asset protection planning, probate avoidance techniques, income tax basis step-up strategies, and long-term care planning opportunities.

Learning Objectives:

• Identify tax planning and compliance points from any 2024 federal tax legislative changes, significant court cases, regulations, and IRS rulings.
• Analyze 2024 rulings that represent new legal interpretations for taxation of businesses.
• Identify due diligence actions to take based on 2024 tax law developments and upcoming Tax Cuts and Jobs Act (TCJA) changes.

The IRS is using increased funding it received under the Inflation Reduction Act of 2022 to increase enforcement, including increasing audits of partnerships. Changes in the IRS' organization along with increased hiring of agents and improved training on partnership tax contribute to an increased likelihood of a partnership audit. The centralized partnership audit regime enacted under the Bipartisan Budget Act of 2015 (BBA) is complex. This panel will discuss the changes at the IRS and provide tips to prepare for and navigate a BBA partnership audit.

Learning Objectives:

• Recognize the changes at the IRS that increase the likelihood of a partnership audit.
• Identify the steps in the BBA partnership audit process.

Learning Objectives:

• Recognize the key concepts and nomenclature related to generative AI technology
• Identify opportunities to leverage the power of ChatGPT and Microsoft 365 Copilot in your tax and accounting services

Learning Objectives:

• Analyze important provisions in SECURE 2.0 impacting plan design and operations
• Identify mandatory and optional changes and how best to consider for your clients.

Learning Objectives:

• Identify the filing requirements of the Corporate Transparency Act and their deadlines
• Analyze the impact of recent court filings and FinCEN's FAQ
• Apply the Corporate Transparency Act to fact patterns involving trusts and other ownership structures

Learning Objectives:

• Identify and analyze common ethical dilemmas in tax practice, referencing the AICPA SSTSs and other authoritative tax ethics guidelines.
• Apply critical thinking skills to help make informed and ethical decisions in various tax scenarios.
• Identify best practices to support ethical conduct in their tax practices.

Learning Objectives:

• Recall tax provisions that are set to expire after 2025.
• Identify the implications of expiring tax provisions and resulting tax planning opportunities.

Learning Objectives:

• Identify how larger wealth transactions can be handled with more sophisticated techniques that may enhance the plan’s potential for success.
• Apply variations of planning techniques into components of a complex large estate transfer.
• Use one planning approach to address state pass-through business alternative income tax (BAIT)/pass-through entity tax (PTET) programs, Powell, and estate inclusion.
• Identify techniques to consider incorporating into complex trust plans.
• Use one planning approach to address state pass-through business alternative income tax (BAIT)/pass-through entity tax (PTET) programs, Powell, and estate inclusion.

Learning Objectives:

• Determine the benefits of cost segregation in real estate investments
• Identify opportunities for basis adjustments
• Compare different opportunities for tax deferral in real estate disposals

Learning Objectives:

• Identify key strategies for talent acquisition including understanding what younger CPAs are seeking in an employer.
• Analyze retention programs that nurture and retain top accounting professionals.
• Determine alternative talent pathways and hear ways to develop partnerships with educational institutions and tap into non-traditional candidate pools.

Learning Objectives:

• Identify the state, local and international tax issues that may arise when hiring remote individuals
• Distinguish the steps that a company can take to avoid the unintended consequences of remote employees

Learning Objectives:

• Analyze how several recent Supreme Court cases may affect practitioners in daily estate planning practice.
• Identify practical lessons key cases over the past several years teach about the often-ignored issues of proper administration of trusts and plans and the unique role the CPA can serve.

Learning Objectives:

• Determine the challenges associated with the use of generative AI in tax research, including accuracy and bias concerns.
• Analyze privacy and regulatory considerations in AI adoption for tax professionals.
• Identify practical strategies to integrate AI tools into tax practices while maintaining ethical standards.

Learning Objectives:

• Analyze the Four Major Shifts Affecting Tax Compliance for Alternative Investments
• Identify the Role of AI and Automation in Transforming Tax Compliance

Learning Objectives:

• Analyze various automation strategies to mitigate the talent shortage in accounting
• Determine how to effectively implement RPA, AI, and iOCR in your accounting firm
• Identify how to build scalable tax returns processing operations for sustainable growth

This session will discuss the current state of U.S. tax administration and the major challenges the IRS faces today as it attempts to administer the tax system. Major challenges include providing high-quality taxpayer service, implementing legislation, conducting examination and collection initiatives that promote future voluntary compliance, and expanding the ability of taxpayers and preparers to conduct their business with the IRS online while simultaneously maintaining data security.

Learning Objectives:

• Identify how to best use the services of the National Taxpayer Advocate to protect your clients' rights as a taxpayer and help you with tax problems you can't resolve on your own
• Recognize the major challenges faced by the IRS in administering the tax system, TAS's role in addressing them, and how participants can assist in this process

Learning Objectives:

• Determine the current challenges the IRS has identified in working with the evolving needs of taxpayers and tax professionals
• Identify the efforts the IRS is making to improve tax-processing systems, electronic filing and payment options, and expanding digital or online services
• Determine how the IRS will provide quality service to all taxpayers by helping them understand and comply with applicable tax laws

Learning Objectives:

• Calculate the correct income inclusion to the employee for use of the corporate jet, automobile, or other corporate asset.
• Calculate the correct tax deduction for the employer for use of the corporate asset including the entertainment disallowance.

Learning Objectives:

• Identify the purpose of an Administrative Adjustment Requests (AAR)
• Identify unique challenges in preparing an AAR
• Identify how to file an AAR

Learning Objectives:

• Identify the first steps to take when a client dies.
• Identify important tax deadlines to be aware of.

Learning Objectives:

• Identify the basic approach of the digital asset reporting regulations including who is a broker, what is reported and how, and determination of amount realized and basis.
• Recognize what will be reported on Form 1099-DA and what transactions involving digital assets will not be reported on a 1099-DA and the importance of clients maintaining excellent records of all digital asset transactions.
• Identify a tax preparer's due diligence actions needed to help clients with digital asset transactions prepare a proper tax return.

Learning Objectives:

• Identify IRS enforcement strategic objectives.
• Recognize the preparation needed to navigate an IRS large business audit in the new environment.

Learning Objectives:

• Identify areas of planning and implementable solutions.
• Differentiate reactive compliance work from proactive planning value and revenue.
• Recognize ways to convert your tax practice into a high value PFP advisory business.

Learning Objectives:

• Identify the change in law and reporting requirements starting with years beginning on or after Jan 1, 2022
• Distinguish the IRS interim guidance issues after implementation of the law

Learning Objectives:

• Identify the corporate and shareholder level requirements that must be satisfied for stock to meet the definition of qualified small business stock.
• Apply the process a tax professional can use to gain mastery over a subject.

Learning Objectives:

• Identify the parties involved with a trust - settlor, trustee and beneficiary.
• Distinguish the different types of trusts and the purposes for which they are formed.

Learning Objectives:

• Identify best practices for communicating with the IRS in advocacy situations
• Recognize how to leverage IRS online communications options and navigate the IRS "roadmap"

Learning Objectives:

• Distinguish the history of IRC section 1402(a)(13)
• Identify the litigation position of the IRS in recent cases

Learning Objectives:

• Identify key strategies for year-round tax advisory services including understanding the benefits of offering year-round services.
• Apply effective client communication techniques, including examples of how proactive planning has provided savings.
• Apply techniques to enhance practice efficiency and client satisfaction.
• Analyze best practices and success stories for integrating advisory services.