Main Street Practitioner Blog

Workplace Efficiency for Tax Pros

Tuesday, Oct. 19, 2:00 p.m. ET  |  CPE Credit: 2 hours

This course will examine the basics of workplace efficiency. We will cover beating procrastination, planning your day to accomplish the maximum- especially getting done that one big task you absolutely have to finish before going home- grouping tasks, and multitasking. We will also examine methods to remove clutter (mental, physical and electronic) and also how to manage programs and apps. We will discuss effectively dealing with e-mail and instant messaging, handling telephone and face-to-face communications. Learn more.

Practice Management for Success & Growth

Wednesday, Oct. 20, 2:00 p.m. ET  |  CPE Credit: 2 hours

This overview course will examine the basics for operating a professional tax practice.  We will cover the basic requirements for efficiently and effectively managing daily operations.  This will include use of hardware and software, telecommunications and both physical and client data security issues. Learn more.

Introduction to US International Taxation

Thursday, Oct. 21, 2:00 p.m.  |  CPE Credit: 2 hours

This course will provide a basic introduction to the fundamental terms and concepts of United States tax law governing the taxation of United States business and investment activities of foreign taxpayers and the foreign activities of United States citizens and residents.  This course will discuss these concepts with respect to individuals and corporations.  This course is a broad overview of United States international taxation and includes current and historical elements as well as policy and comparative elements. Learn more.

Subpart F, CFCs, PFICs & GILTI

Friday, Oct. 22, 2:00 p.m. ET |  CPE Credit: 2 hours

Subpart F has been the backbone of United States international tax law since its enactment in 1962 and remains so today even after the changes provided by the Tax Cuts and Jobs Act.  Subpart F was originally designed to combat deferral and the movement of operations abroad to low-tax and zero-tax jurisdictions.  Subpart F, the CFC rules, GILTI, and PFICs are all responses to the challenges posed by globalization and the free movement of capital. Learn more.

Ethics and Compliance

Monday, Oct. 25, 2:00 p.m. ET |  CPE Credit: 2 hours

This course will discuss the ethical responsibilities for members of the Society in their roles as representatives on behalf of clients before the IRS and State Taxing Authorities.

We will also explore the Internal Revenue Manual and Treasury Circular 230 requirements associated with performing due diligence as to accuracy when the tax accountant is aware of tax non-compliance. Learn more.

Casualties, Disasters & Settlements

Tuesday, Oct. 26, 2:00 p.m. ET |  CPE Credit: 2 hours

This course will cover deducting casualty losses inside and outside of federally declare disaster areas.  We will also review tax relief for taxpayers affected by the recent disasters.   Although the TCJA eliminated personal casualty losses for the years 2018 - 2025, business casualty losses remain deductible and personal losses within federally declared disaster areas remain deductible.  We will review the deductible portion of losses.  Insurance proceeds, settlements, and other relief received affect the deductible of the losses. Learn more.

Maximum Deductions for Retirement Plans

Wednesday, Oct. 27, 2:00 p.m. ET  |  CPE Credit: 2 hours

This 2-hour course will discuss various retirement plan strategies that can dramatically improve both the bottom line and the clients’ retirement nest egg.  Prior to 2021, business clients could only adopt a SEP or IRA after the tax year-end. However, under new rules, the deadline to implement a retirement program has been extended to the filing of the tax return plus extensions. It has become critical for tax preparers to educate themselves on retirement plans in order to effectively serve their clients, particularly those that own businesses. Learn more.

Criminal Tax

Thursday, Oct. 28, 2:00 p.m. ET |  CPE Credit: 2 hours

In the daily circumstances of a tax practice, a practitioner will learn facts that may require the client to amend a return or to file a delinquent form. It can be a challenge for a tax practitioner to know the difference between a routine correction and a potential criminal matter. It is therefore helpful to understand what facts and circumstances might be relevant to IRS for consideration as a criminal matter. Learn why it is important to be able to evaluate your clients’ facts and circumstances for potential badges of fraud, what those badges of fraud are and what IRS must show to establish a criminal case. Learn more.

Payroll and Employment Tax

Friday, Oct. 29, 2:00 p.m.  |  CPE Credit: 2 hours

This instructor-led seminar focuses on federal tax filing and deposit requirements if a business issues payroll. Special attention will be paid to corporations taxed under sub-chapter S of the Internal Revenue Code since a “reasonable wage” requirement exists for many shareholders actively participating in the business.  The seminar will outline the differences between contract labor and employees so business clients may be counseled on Worker Classification. Attendees will learn about personal liability through Trust Fund Recovery Penalty (TFRP) assessment for parties that are deemed responsible payroll deposits. Strategies, IRS process, and timelines for TFRP representation, including the 4180 interviews, will be covered. Learn more.