As 2022 came to an end, several tax law changes were put into place that will impact preparation of the 2022 tax returns as well as how to plan for 2023 and beyond. This webinar covers the most recent developments that you will need to know. And best of all, it is only two hours long, so you can get caught up quickly and efficiently. In this self-study webinar, we will discuss:
- Long term impact of 2022 tax changes and how they will impact tax planning in 2023
- Revisions impacting S corporations
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Latest guidance from the IRS in regards to the Inflation Reduction Act of 2022
To provide tax professionals with an update of tax changes that took place near the end of 2022 that will impact the 2022 tax filing season as well as tax planning for 2023 and beyond.
- S Corporations basis update
- Form 7203
- Partnership taxation
- Inflation Reduction Act of 2022
- Corporate Alternative Minimum Tax (CAMT)
- AFSI and Partnerships
- 1% stock repurchase excise tax
- Pass-through entity tax federal issues
- IRA 2022 prevailing wage & apprenticeship requirements (PWAR)
- Charitable contribution deduction substantiation
• Identify the circumstances requiring the filing of Form 7203
• Recognize best practices when dealing with a BBA partnership
• Recognize the applicability of the new Corporate Alternative Minimum Tax (CAMT)
• Identify the methodology behind calculating a corporation’s income subject to the CAMT tax
• Recognize the applicability of the new excise tax on the repurchase of stock
• Identify the Pass-Through Entity (PET) issue applicable to accrual basis taxpayers
• Recognize the important dates and related thresholds associated with the Prevailing Wage and Apprenticeship Requirements (PWAR) of the Inflation Reduction Act