LLCs and partnerships continue to present some of the greatest challenges for return preparers and advisors:
This program will address:
Recent developments regarding the unified partnership audit rules;
An SE tax update for LLCs and partnerships and the correct and incorrect use of blocker entities;
Disregarded entity rules and transactions;
Waterfall and safe harbor allocation examples;
Required allocations under Section 704(c);
When is a loss actually deductible?
Identifying various types of partnership debt properly for basis purposes;
The 754 election;
Reporting LLC and partnership interests on gift and estate tax returns and valuation of closely held businesses and minority interests.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.
DESIGNED FOR
Public Practitioners, Industry CPAs, and EAs
BENEFITS
- Learn to prepare for an LLC or partnership audit and the elections available.
- Learn to avoid allocation and basis calculation errors.
- Identify disregarded entities for income tax purposes and how those are treated differently
HIGHLIGHTS
- IRS audits
- Allocations and Basis
- Proper reporting
- Valuation of closely held business interests
ADDITIONAL NOTES
Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you need an EA certificate or wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.