CPATrainingCenter.com offers CPA exams, accounting degree training, CPE, and professional development for accountants and CPAs
Course/Product Description
Title:

IRC 1367 S Corporation Stock And Debt Basis Adjustments: New IRS Practice Unit Guidance

SKU:WC-1027626
Date / Time: Recorded
Format: Webinar
Order:Qty:
Description:

This webinar will provide tax advisers with a practical guide to making stock and debt basis adjustments for S corporations in light of recent IRS Practice Unit guidance. The panel will discuss the specific transactions and events identified by the Service in the IPU as potential issues and offer practical suggestions to allocations and basis adjustments.

Accurately calculating basis for S corporation shareholders is critical to determine how much a shareholder can withdraw in distributions without recognizing taxable income. When a shareholder takes more in distributions than his basis, the excess distribution is taxable as a capital gain.

Tracking basis is also important in determining whether shareholders can deduct S corporation losses on their personal returns. The Service may disallow pass through losses in excess of basis and result in unexpected tax consequences.
Critical to maintaining stock and debt basis balances is a clear understanding of required and elective adjustments arising from certain transactions and events. The IRS recently issued Practice Unit guidance on adjustments to stock and debt basis under Section 1367, indicating that S corporation basis will continue to be an area of audit attention in 2018.

The Service has identified several problem areas in S corp basis adjustment calculation and reporting. Common errors include failing to account for income or loss not claimed on a tax return, improperly structuring debt transactions, and adjustment for certain tax credit bonds. The IRS has prevailed in recent Tax Court cases that upheld disallowance of debt basis increase.

Listen as our experienced panel provides a thorough and practical guide to Section 1367 stock and debt basis adjustments for S corporation shareholders to avoid unnecessary tax.

Outline

  • Mechanics of calculating stock basis
  • Section 1367 and regulatory guidance
  • Common errors in adjustments that increase or decrease stock basis
    • Basis adjustments for income or losses not claimed on tax return
    • Basis treatment of life insurance premiums
    • Tax credits
    • Certain tax credit bonds
  • Debt basis rules and structuring
    • Debt basis rules and calculations
    • Debt transactions subject to IRS challenge and disallowance
    • Reducing existing debt basis
  • Substantiating debt basis

    Benefits

    The panel will discuss these and other important topics:
    • Debt basis adjustments that may be subject to IRS challenge and disallowance
    • Proper basis adjustments for “distortions” created by items such as certain tax credit bonds
    • Basis adjustments required for key-man life insurance premiums and proceeds
    • Basis treatment for excess depletion expenses

    How To Access Course And Materials

    Handout materials and the phone number for live presentations are made available to you one day prior to the event via email from the presenter. Copies of the presentations are included with recorded versions.

    If you order a recorded version of the webinar, CDs will be mailed out approximately 10 days after the live event. Shipping is included in the price of recorded versions.

    Continuing Education Credits Available

    This program has been approved for 2.0 CPE hours through Strafford Publications. To obtain CPE credit, attendees must participate in the live event (recorded versions do not qualify for credit), return an Official Record of Attendance to Strafford affirming their participation (including the CPE code announced during the program), and pay a processing fee of $35 per person.

    Strafford will mail a certificate of credit within approximately two weeks of receiving your completed Official Record of Attendance, provided all required conditions have been satisfied.

    Strafford is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

    Cannot Attend The Live Presentation?

    This presentation is also available in a recorded format, in On-Demand Or CD versions, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

Licenses / Designations / Educational Credits:CPE
All US States: 2
About The Provider: Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417 or by visiting their website.

Strafford webinars and teleconferences offer an excellent opportunity to train your entire staff—with no lost travel time or expenses. They are extremely cost-effective—allowing an unlimited number of people at your location to listen from a single line at no additional charge.

Each live seminar features presentations by a panel of nationally recognized authorities, followed by an interactive Q&A session. Presentation materials can be viewed online or printed out. Audio can be accessed via the web or a telephone.
More Info: Contact Us For More Information
Order:Qty:
Share This: Share on Facebook


Share on Twitter


Share on Google+


Audit Training
Audit Training

Project Management Workshop
Project Management Workshop

Sales &Use Tax Workshop
Sales &Use Tax Workshop

Peachtree Seminars
Peachtree Seminars

How To Use QuickBooks
How To Use QuickBooks

Series 6 - Live &OnDemand Online Course
Series 6 - Live &OnDemand Online Course

Worker Classification: An Auditor′s Advice For IRS Compliance
Worker Classification: An Auditor′s Advice For IRS Compliance

Comprehensive Income Tax Course with Career Package
Comprehensive Income Tax Course with Career Package

Chartered Tax Professional Certificate Program
Chartered Tax Professional Certificate Program

Become An Enrolled Agent
Become An Enrolled Agent

Tax Court Exam Homestudy Program
Tax Court Exam Homestudy Program

Compliance Tips For Gifts, Awards, &Other Fringe Benefits
Compliance Tips For Gifts, Awards, &Other Fringe Benefits

Multi-State Payroll Tax Compliance
Multi-State Payroll Tax Compliance

I-9 Administrator Training - Top 10 Mistakes To Avoid In Completing, Storing, And Destroying Form I-9
I-9 Administrator Training - Top 10 Mistakes To Avoid In Completing, Storing, And Destroying Form I-9

Legislative Update On Sick Pay
Legislative Update On Sick Pay

IRS Rules For Travel Pay
IRS Rules For Travel Pay

Google+CPATrainingCenter.com. 5755 North Point Parkway, Suite 228 | Alpharetta, GA 30022 | 770-410-9941 | support@CPATrainingCenter.com
Copyright CPATrainingCenter.com 2018 | Web Site Development by OTAU
Facebook