When Taxes Get More Complicated for Individual Filers

RATING
4.7
This program was recorded live on Tuesday, July 11, 2017
You have one year from airing date to use this course as credit.
   

You must Log In or Register to view the Programs, Resources or Transcripts.

Continuing Education

CPE Program Knowledge Level: Overview
2 CPE Credit; NO prerequisites or advance preparation
CTEC Course #: 3022-CE-0117
IRS/RPO Approved Program
#7ZBUJ-T-00058-17-O (Online/Group) Live (Group-Internet Based)
#7ZBUJ-T-00058-17-S (QAS Self Study) Archive
Federal Tax Law (2 Hours)

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. Former Director of Internal Communications for the IRS, Les Witmer, moderates the program.

The program, through a lively round-table discussion and real time interaction with the audience, looks at the complications that arise for taxpayers with significant investment assets. The program will focus on major life events tax implications, complications that arise for taxpayers with significant investment assets and on income from capital assets, including stocks, bonds, and real property. Panelists will examine the holding of real estate as an investment and whether or not the ownership of real estate can become an active business for the owner. 

Program Learning Objectives

1) Identify the amount of the adoption credit.
2) Identify how long it typically takes the IRS to make a determination on an innocent spouse claim.
3) Identify the penalty amount on the earnings portion when 529 funds are used for non-education purposes.
4) Identify the schedule used to report royalty income.

Program Outline

Moderator


Les Witmer, APR
Communications Consultant

Les Witmer has served as the moderator for Tax Talk Today since 2001. He is a Communications Consultant in Atlanta. He retired after a distinguished career of 34 years with the Federal Government serving the last 23 years with the Internal Revenue Service. He held various positions with the IRS in Communications and Taxpayer Information and retired during the stand-up of the Wage and Investment Division as the Director of Communications. He also was periodically assigned by the U.S. Treasury Department to the Office of Economic Cooperation and Development (OECD) to be a member of an international team that advised and conducted seminars on Taxpayer Information and Customer Service programs to tax and ministry of finance officials from Russia and other Eastern European Countries. Preceding IRS, he served on active duty with the U.S. Army including as an infantry officer in Vietnam. He had other active duty and reserve assignments culminating with being activated during Desert Storm. He retired as a Lieutenant Colonel. He holds a B.S. in Journalism from the University of Southern Mississippi and an M.S. in Public Administration from the American University.

IRS Panelists


pippin

Susan L. Kerrick
Revenue Agent,
S Corporation Technical Advisor Small Business / Self-Employed
Cincinnati, OH

Susan L. Kerrick has been a national S corporation technical advisor for S Corporations since September 2001. She is a Certified Public Accountant and has been with the Internal Revenue Service since July of 1984.

Her duties include coordinating tax issues, training, outreach to the public, assisting National Office with various projects, conducting revenue agent case visits and answering examiner questions. 

During her career with the IRS, she has done extensive teaching both internally to IRS's SB/SE and LB&I examiners, and externally to practitioners.  Most recently she was involved in the 2016 IRS National Tax Forum.  She has developed resources and provides guidance on S corporation and their shareholders.

Prior to being an S corporation technical advisor, she was a revenue agent group manager, providing guidance to examiners and overseeing the technical development of cases.


Scott Irick
Director, Examination
Small Business/Self-Employed (SB/SE)

Scott Irick is currently the Director, Examination Headquarters function in the Small Business/Self-Employed (SB/SE) operating division. He provides executive leadership and oversight for the policy, quality, technical support, and workload selection activities for the Examination function in Field, Campus and Specialty Tax operations. Scott has held multiple executive positions in both SB/SE and Wage and Investment Operating Division.

Scott began his career with the IRS in 1984 as a revenue agent in the former Springfield District. He holds a Bachelor of Science Degree in Accounting with a minor in Mathematics from Wayne State College and is a Certified Public Accountant.

Industry Panelists


Tony Frezza, Pharm D, CFP®, EA
NTPI Fellow

Founder and principle of Frezza Tax and Financial Services, Tony Frezza is a 20-year veteran in the financial services industry and has been an enrolled agent since 2006.

After graduating from the University of Florida College of Pharmacy in 1989, Tony spent the first part of his professional career as an institutional pharmacist in the Orlando area. In 1995, he entered the financial service industry not with the intent of changing careers but in search of objective financial answers and solutions to benefit his family. This quest ultimately led him to establish his firm.

Tony has extensive experience in developing innovative and efficient solutions to achieve the desired goals of his clients and their business. His professional focus is on taxation, but he also addresses financial planning and small business concerns. He has served as a financial officer for multiple organizations, an adjunct collegiate program facilitator and as a board member for both U.S. and international companies.  Tony currently serves as the treasurer for the Florida Society of Enrolled Agents and is a member of the National Association of Enrolled Agents (NAEA).

His licensure and certifications include enrolled agent, Certified Financial Planner®, and Fellow of NAEA's National Tax Practice Institute™, He also holds a Series 65 license with FINRA (Financial Industry Regulatory Authority) and is a licensed registered pharmacist with the State of Florida.



Helen O'Planick, EA

HELJAN Associates, LLC

Helen P. O'Planick began her tax career in 1984 as a VITA/TCE volunteer in Kingman, Arizona. She became an enrolled agent in 1994, and runs her own tax practice, HELJAN Associates, LLC, in York, Pennsylvania. HELJAN serves business and individual clients with write-up, payroll, tax preparation, financial advice, and representation services.

Helen is an accomplished instructor and has led courses for a number of professional organizations, including the National Association of Enrolled Agents (NAEA) and the Internal Revenue Service. An early adopter of electronic filing technology, Helen served on IRS' Electronic Tax Administration Advisory Committee (ETAAC), and was a team leader of "Tax Experts" on AOL. She was treasurer and past president of the PA Society of Enrolled Agents and was an NAEA director. Helen became a Fellow of NAEA's National Tax Practice Institute™ in 2001.

 

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.