Individual Income and Tax Compliance Annual Update
Overview
The most pressing tax matters affecting individuals, estates, and trusts in 2023 [bold]
With so many tax developments that come up during the year, it’s hard to stay on top of every salient issue. In this all-new-for-2023 course, learners get a tailored list of updates that highlight only the most pertinent issues concerning individuals, estates, and trusts from the past year.
Insights to study before tax season [bold]
Learners are provided with in-depth explanations of budding issues that their clients may face.
From the treatment of non-fungible tokens (NFTs) as collectible property to the deductibility of certain medical care expenses, course materials dive into the latest IRS pronouncements and case law to help practitioners serve their clients.
Developments include:
- 2023 rate tables
- Taxation of fringe benefits
- A U.S. Supreme Court decision on IRS summons
- Expanded clean-energy credits
- Treatment of NFTs as collectibles
- Deduction substantiation for cryptocurrency donations
- Medical care expense deductibility
Highlights
Prerequisites
Basic understanding of federal income taxation
Designed For
accountants and finance professionals
- CPAs, senior associates, managers and partners Tax professionals
Objectives
- Identify the correct 2023 rate tables and standard deduction applicable to filers.
- Identify fringe benefits that are partially excluded from income.
- Recognize the 2023 COLA adjustments related to retirement plans.
- Identify the correct standard mileage rate for different categories of mileage in 2023.
- Identify updated tax credits for 2023.
- Recognize developments in the treatment of cryptocurrency and NFTs.
- Recognize the IRS's authority to issue summons.
- Recall hobby loss rules.
- Recognize the tax treatment of certain medical expenses.
- Identify the basis of assets transferred in trust upon the death of a trust's owner.
Leader(s):
Leader Bios
William Harden, Surgent McCoy Self Study
Bill is an Associate Professor in the Bryan School of Business and Economics at the University of North Carolina at Greensboro where he teaches tax courses on flow-through entities, individual and corporate tax, tax research, IRS practices, and ethics. Bill has over twenty years of experience in taxation. He began his public accounting career in 1990 in the Dallas office of one of the Big Six accounting firms. In addition to his university teaching, Bill consults on tax and financial planning issues and maintains a sole practice in North Carolina, focusing on taxation and financial consulting for small businesses and individuals. Bill has testified before the House Ways and Means Oversight Sub-Committee on Internet taxation issues. He was the recipient of a Lybrand Certificate of Merit in 2002. Bill has been involved in CPE instruction for over a decade. He received NCACPA outstanding instructor awards in 2009, 2010, and 2011. Bill has authored over 30 publications in tax accounting and financial planning journals, including the Journal of Financial Service Professionals, Strategic Finance, National Tax Journal, Journal of Business Finance and Accounting, Tax Notes, Tax Advisor, and Journal of the American Society of CLU and ChFC. Mr. Harden is currently a member of the American Accounting Association, the American Taxation Association, the National Tax Association, and the North Carolina Association of CPAs. He is a past board member of the Piedmont Chapter of the NCACPA.
Non-Member Price $301.00
Member Price $233.00