New Year, New Rules? Federal Tax Update for Individuals and Businesses


Tuesday, January 18, 2022 · 2:00 – 4:30 PM ET

You have one year from airing date to use this course as credit.

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Continuing Education

CPE Program Knowledge Level: Update
3 CPE Credit; NO prerequisites or advance preparation
CTEC Course #: 3022-CE-0150
IRS/RPO Approved Program
#7ZBUJ-U-00094-22-O (Online/Group) Live (Group-Internet Based)
#7ZBUJ-U-00094-22-S (QAS Self Study) Archive
Federal Tax Law Update (3 Hours)

For this 3 credit program you need to have purchased a 15 Credit or 3 Credit package

Program Content

This online learning program, presented as a live webcast, will be also archived for QAS Self Study. The program will be available for viewing for 12 months after the live webcast. A panel of IRS and industry experts will present the content during a live, interactive discussion, where participant questions can be submitted. Questions will be answered live on the program or posted on the Resources page.

The program, through a lively round-table discussion and real time interaction with the audience, looks at the administrative and legislative changes to the rules affecting the filing of both individual and business returns for the 2021 tax year, including any enacted or proposed tax reform. Panelists will provide updates on the start of the current filing season and review changes to forms and schedules. Panelists will discuss recent legislative and administrative developments, especially the tax provisions of the American Rescue Plan Act, relating to filing 2021 tax returns, to ensure complete understanding.

By the end of the program, participants will have a practical understanding, through accurate, current, and effectively designed communications, of the changes to tax forms for the 2021 filing season, new legislation and guidance affecting those returns, and how to avoid the potential problems that may arise.

Program Learning Objectives

  1. Identify the new rules in recent legislation and IRS guidance that affects the filing of individual tax returns for the 2021 tax year.
  2. Identify the proper forms and schedules used to claim any new or modified Individual tax credits or deductions.
  3. Identify the new rules in recent legislation and IRS guidance that affects the filing of business tax returns for the 2021 tax year.
  4. Identify the proper forms and schedules used to claim any new or modified business tax credits or deductions for the 2021 tax year.

Program Outline

  • Individual Returns
    • Changes to Forms and Schedules
    • Inflation Adjustments
    • Significant IRS Regulations and Other Guidance
    • Anticipated Problems

  • Legislation Affecting Individuals
    • 2021 Recovery Rebate Credit
    • Child Tax Credit
    • Child and Dependent Care Credit
    • Earned Income Credit
    • Dependent Care Assistance Exclusion
    • Unemployment Compensation
    • Health Insurance Premium Credit
    • COBRA Premium Assistance

  • Business Return
    • Changes to Forms and Schedules
    • Inflation Adjustments
    • Significant IRS Regulations and Other Guidance
    • Anticipated Problems

  • Legislation Affecting Business
    • Employer Payroll Tax Credits
    • Self-Employed Tax credit
    • Employee Retention Credit
    • Treatment of Economic Injury Disaster Loans
    • Treatment of Restaurant Revitalization Grants
    • Excess Business Losses (Noncorporate)
    • Limits on Compensation Deduction
    • Allocation of Interest Expense
    • Payment Card Reporting Requirements
    • Tax Credit for COBRA Assistance
    • Pension Plan Relief

Panelists

Moderator

Alan Pinck, EA
A. Pinck & Associates

Alan Pinck is an Enrolled Agent with over 30 years of tax preparation experience in the San Francisco Bay Area. He has built a practice specializing in individual, small business tax preparation and audit representation. You have seen Alan presenting at NTPI events, CSEA Super Seminar, Spidell Publishing as well as a variety of other presentations for tax groups and small business associations. Having represented thousands of tax returns in audit, Alan has obtained tremendous insight of the audit process as well as knowledge on a wide variety of tax issues.

IRS Panelists

Coming soon!

 

Industry Panelists

David-Mary-Mellem

David L. & Mary R. Mellem, EA
Partners at Ashwaubenon Tax Professionals

David and Mary prepare approximately 1,300 tax returns for individuals, corporations, partnerships, estates, and trusts.  2022 represents David's 44th year and Mary's 38th year of income tax preparation.  They are the partners of Ashwaubenon Tax Professionals.

In addition to teaching tax seminars and preparing tax returns, David and Mary provide research/consulting services for Federal tax matters for fellow tax professionals.

David and Mary are tax references for many sources including www.money.cnn.com and Green Bay area TV stations.  Mary has been a guest on Wisconsin Public Radio several times.  They have been quoted in various newspapers around the country and have published articles in NATP's Tax Practitioner Journal and NAEA's EAJournal.  David and Mary have both been guest panelists on the TaxTalkToday show sponsored by NAEA.  Mary has also been a guest on the Larry Meiller Show on Wisconsin Public Radio several times over the past few tax seasons to answer call-in questions from the listening audience and is scheduled to appear again this season.

They are both members of NATP, NAEA and Fellows of NTPI.  They have served on various NAEA committees.  David is a past editor of the NAEA EAJournal and has served on the NAEA Education Committee and NAEA Education Foundation.  Mary has written the Client Newsletters for the NAEA Journal for several years, and has served on the Public Relations Committee and the NAEA Education Foundation.

Content Consultant

David F. Windish, J.D., LL.M
Content Consultant

David F. Windish, J.D., LL.M. in taxation, is a tax attorney and consultant. He has served as an instructor of tax-advantaged investments at the New York Institute of Finance; an Instructor of business law at the U.S. Merchant Marine Academy, Kings Point, N.Y.; and an adjunct professor at George Mason University, Fairfax, Va. He has also served as executive editor for Tax Analysts; managing editor for Business Strategies, published by CCH; and senior editor for the Institute for Business Planning.

Mr. Windish is the author of Practical Guide to Real Estate Taxation, published by CCH and currently going into its sixth edition. Earlier works include Tax Advantaged Investments and Investor's Guide to Limited Partnerships, both published by the New York Institute of Finance. Through the Center for Video Education, he authored continuing education courses dealing with real estate and closely held corporations. Those courses included readings, case studies, and videotape segments.

Mr. Windish is a graduate of Rutgers University Law School and the New York University School of Law, Graduate Division. He has been heard as a guest speaker at professional meetings and seminars and on popular radio programs.

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