Down on the Farm and Beyond: Helping the Agribusiness Client

RATING
4.7
This program was recorded live on Tuesday, July 12, 2016
You have until 12/31/17 to use this course as credit.
   

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Continuing Education

CPE Program Knowledge Level: Overview
2 CPE Credit; NO prerequisites or advance preparation
CTEC Course #: 3022-CE-0110
For Enrolled Agents (EAs) and OTRPs (participation voluntary)*: IRS/RPO Approved Program
#7ZBUJ-T-00050-16-O (Online/Group) Live (Group-Internet Based)
#7ZBUJ-T-00050-16-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 many of the special tax rules that apply to taxpayers engaged in agribusiness. The program will focus on farm and livestock income and expenses, the growing of timber and ornamental plants. Panelists also will explore how agribusiness spills over into more urban environments.

The course of learning for this program has been designed to enhance professional knowledge of Federal taxation or Federal tax related matters.

Program Learning Objectives

  1. Identify the minimum threshold dollar amount where producers whose total reportable payments from USDA Farm Service Agency are less than and will not receive IRS Form 1099-G.
  2. Identify the IRSC section that includes an exclusion from gross income.
  3. Identify the filing deadline for farmers if they choose not to pay estimates without a penalty as long as they file by the deadline.
  4. Identify the form on which cancelled debt related to farm rental is reported.

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 Panelist


panelist

Yvonne McDuffie-Williams
Sr. Program Analyst, Small Business/Self-Employed (SB/SE)

Yvonne is a Sr. Program Analyst in the Headquarter's office of the Small Business/Self-Employed (SB/SE) operating division of the Internal Revenue Service. She is responsible for Service-wide support of IRC 61(a)(12), Cancellation of Debt Income and other related issues such as foreclosures. She is also responsible for farming, and tangible property programs. Yvonne supports all operating divisions in the IRS and interfaces with Chief Counsel.

Yvonne has been with the IRS since 1991 holding positions including Revenue Agent in SB/SE and Large Business and International (LB&I) divisions, Revenue Agent Manager, and Program Analyst. Yvonne has taught extensively within the IRS including an instructor for the IRS Volunteer Income Tax Assistance Program (VITA).

Yvonne holds a BS in business administration with an emphasis in accounting and an MBA with an emphasis in management from California State University, Los Angeles. She is also a CPA.

Industry Panelists


Linda Bossard, EA, USTCP

Linda worked for an enrolled agent when she started her career in public accounting in 1980. In 1994 she moved to Grimbleby Coleman CPAs, Inc., where she currently is a tax manager. Admitted as a non-attorney to practice before the United States Tax Court in 2011, Linda is well respected among her peers and a regular instructor at the National Association of Enrolled Agents' (NAEA's) National Tax Practice Institute (NTPI). Her expertise is in income tax preparation, but she has significant experience in a wide range of taxes (individual, corporate, partnership, and estate and trust taxes) as well as in IRS appeals and audit representation.

Linda is active in her profession. She serves as Vice President of the Big Valley chapter of the California Society of Enrolled Agents. She also serves on NAEA's NTPI planning committee and has served on NAEA's ethics committee. Outside of the office, she also volunteers at the McHenry Mansion Foundation, a Modesto, CA area nonprofit where she holds the office of treasurer.


Trish Evenstad, EA

Trish Evenstad, EA, began her tax preparation career in 2006 after moving to the rural town of Westby, Wisconsin. There, she founded a partnership with her mother-in-law. While working full-time, she completed her accounting degree in 2008, went on to earn the enrolled agent credential in 2011, and graduated from the National Tax Practice Institute™ in 2015. Evenstad has extensive experience in preparing individual, partnership, corporate, and estate and trust returns. She also has specific expertise in tax matters confronting agriculture businesses.

In addition to her involvement with numerous community organizations, Evenstad serves as the President of the Wisconsin Society of Enrolled Agents and is a driving force in the National Association of Enrolled Agents' (NAEA) public awareness and social media efforts.


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.