Embed Size (px)
Citation preview
6/23/2016
1
Getting Clients Right with Late Tax Filings
Kristy Maitre – Tax SpecialistCenter for Agricultural Law and TaxationJune 23, 2016
Agenda
• Why getting current is important?
• Substitute for Returns
• Gathering/Reconstructing Records
• Where do you find Old Forms?
• Do I have to worry about statutes?
• How many years back should I file?
• What payments options are available?
• How to keep your client in compliance?
6/23/2016
2
Filing Past Due Tax Returns – Why?
• Avoid interest and penalties ‐ Filing past due returns and paying limits interest charges and late payment penalties
• Claim a refund – Client risks losing a refund if they don't file the return– If the client is due a refund for withholding or estimated taxes, they must file a
return to claim it within 3 years of the return due date– The same rule applies to a right to claim tax credits such as the Earned Income
Credit
• IRS holds income tax refunds in cases where the records show that one or more income tax returns are past due
• Protect Social Security benefits ‐ If the client is self‐employed and does not file the federal income tax return, any self‐employment income earned will not be reported to the Social Security Administration and they will not receive credits toward Social Security retirement or disability benefits
• Avoid issues obtaining loans ‐ Loan approvals may be delayed if the client does not file a return. Copies of filed tax returns must be submitted to financial institutions, mortgage lenders/brokers, etc., whenever they want to buy or refinance a home, get a loan for a business, or apply for federal aid for higher education or bankruptcy
Other Reasons
• Avoiding or minimize the failure‐to‐file and failure to pay penalties• Avoiding having a substitute return filed by the IRS, and allowing
the client to take adjustments, deductions and exemptions that are not calculated on a substitute return;
• Start the statute of limitations (in most cases, three years) for a possible audit of the return, this three‐year time limit does not begin until a return is filed
• Start the statute of limitations (ten years after assessment) for collection of the tax, interest, and penalties on the return– IRS cannot collect the tax, interest or penalties after ten years from
the date the return is filed– However, if the client does not file, the ten year expiration clock won't
start ticking
• Filing makes your taxes, interest, and penalties from the tax return eligible to be dismissed in Chapter 7 Bankruptcy (two‐four years after filing)
6/23/2016
3
I Cannot Pay Why Should I File?
• Avoiding or minimize the failure‐to‐file and failure to pay penalties• Avoiding having a substitute return filed by the IRS, and allowing the
client to take adjustments, deductions and exemptions that are not calculated on a substitute return;
• Start the statute of limitations (in most cases, three years) for a possible audit of the return, this three‐year time limit does not begin until a return is filed
• Start the statute of limitations (ten years after assessment) for collection of the tax, interest, and penalties on the return
• IRS cannot collect the tax, interest or penalties after ten years from the date the return is filed
• However, if the client does not file, the ten year expiration clock won't start ticking
• Filing makes your taxes, interest, and penalties from the tax return eligible to be dismissed in Chapter 7 Bankruptcy (two‐four years after filing)
Nonfiler Enforcement
• Taxpayers who fail to file income tax returns and effectively stop paying income tax, pose a serious threat to tax administration and the American economy
• Their actions undermine public confidence in the Service's ability to administer the tax laws fairly and effectively
• The Internal Revenue Service's role in combating the area of non‐filing is that of outreach, education, and enforcement of the tax laws
• However, it is understood that there are those who will not respond to outreach efforts and simply refuse to comply with the law
• It is to those individuals, who deliberately fail to comply with their obligation to file required tax returns and pay any taxes due and owing, that IRS Criminal Investigation devotes its investigative resources
• In the most egregious cases, criminal prosecution is recommended to the United States Attorney's office
6/23/2016
4
Filing
• All citizens must comply with the requirements of the tax law to file returns and pay taxes
• Fortunately, the vast majority of Americans recognize their civic duty and voluntarily comply with their tax filing obligation
• Whether because of an inability to pay or procrastination, some citizens drop out of the tax system
• The IRS has made attempts to make it easier for persons to voluntarily comply with the tax laws and to bring themselves current on any outstanding filings or tax due
• Assistance is provided to those persons to resolve issues that caused them to drop out of the tax system and bring them back into compliance
Current Criminal Investigation Stats
6/23/2016
5
Examples of Non‐filer Investigations ‐Fiscal Year 2016
• Alaska Attorney Sentenced for Failing to File Tax Returns• On April 15, 2016, in Anchorage, Alaska, Paul D. Stockler, a criminal defense
attorney, was sentenced to 14 months in prison, one year of supervised release and ordered to pay $886,058 in restitution to the IRS
• Stockler still has not paid the more than $800,000 in income taxes that he owed for the years 2006, 2008 and 2009
• At the same time that he failed to file his tax returns and pay the taxes due, Stockler made personal expenditures for gambling, cars, and property
• Stockler also failed to file timely income tax returns for the years 2000 through 2004, 2007, 2010 and 2011, failed to file employment tax returns during the years 2004 through 2008 and failed to pay employment taxes to the IRS
• Stockler also submitted a false Form 433‐A, Collection Information Statement for Wage Earners and Self‐Employed Individuals, to the IRS in 2009
• On the Form 433‐A, which he signed under the penalties of perjury, Stocklerfailed to disclose certain retirement assets
Massachusetts Man Sentenced for Evading Tax
• On Dec. 11, 2015, in Boston, Massachusetts, John W. Lippolis, of Blackstone, was sentenced to 12 months and a day in prison, one year of supervised release and ordered to pay restitution of $172,759 to the IRS
• In June 2015, Lippolis pleaded guilty to corruptly endeavoring to impede the IRS
• From 2005 to 2011, Lippolis was the sole proprietor of JW Masonry and, at times, he also worked for his son’s business, JM Masonry Inc
• When Lippolis was paid by check for work performed, he used check cashing services instead of depositing the funds into a bank account to avoid IRS scrutiny
• Lippolis cashed nearly $3 million in checks in this manner• Lippolis operated his business in cash, paid workers in cash and
requested that customers not write checks to him for amounts exceeding $10,000
• Lippolis also failed to file tax returns for many years
6/23/2016
6
Example
• Jessica got divorced in 2010 and retained custody of her only child• She failed to file her 2010 through 2014 returns and comes to your office in July of 2016
attempting to get current• b 9r. and she and he was so upset about the divorce that he let the ball drop on quite a few
important matters in his life, including filing his tax returns. He finally pulled everything together and visited a tax professional and discovered the following:
• 2010 She would have had a federal refund of $2800.00• 2011 She would have had a federal refund of $8200.00• 2012 She would have had a federal refund of $1500.00• 2013 She has a balance due of $3500.00 from self‐employment• 2014 She has a federal refund of $6500.00• 2015 She has a balance due of $300.00
• In this example the taxpayer lost federal refunds of $12,500.00 2010‐2012. the amount due for 2013 cannot be offset by any of those refunds.
• The refunds from 2014 and 2015, can offset the balance due from 2013, which will have ballooned with interest and penalties
• In the end she will only get a fraction of the refund due.
Penalties
• The failure to file or (FTF) penalty is assessed by the IRS at a rate of 5% per month or partial month up to a 25% maximum
• The failure to pay (FTP) penalty is assessed by the IRS at a rate of 0.5% per month or partial month up to a 25% maximum
• If both the FTF and FTP penalties are assessed, the FTF penalty is reduced by the FTP penalty
6/23/2016
7
Other Outcomes
• Criminal fraud – put simply this is tax evasion, which is illegal• Civil fraud: Does not rise to the level of criminal fraud. If imposed, the
penalty is 75% of the portion of tax underpayment attributable to fraud• Negligence: This accuracy related penalty is imposed if any part of the
underpayment, due to tax payer neglect, or to disregard of the tax rules and regulations without the intent to defraud– The penalty is 20% of the portion of the underpayments attributable to the
negligence
• Frivolous Return: A frivolous return is one that omits certain information necessary to determine the tax payer’s tax liability, such as her Social Security number– Usually, such a return is filed by a protester who is attempting to pester the
IRS and make it’s job more difficult. The penalty is $500 for each frivolous return filed
Substitute for Returns
6/23/2016
8
T.D. 9380Substitute for Return
• Provide guidance for preparing a substitute for return under section 6020(b)
• These final regulations affect any person who fails to file a required return
Preparation of Returns
• If any person required by the Internal Revenue Code or by the regulations to make a return fails to make such return, it may be prepared by the Commissioner or other authorized Internal Revenue Officer or employee provided such person consents to disclose all information necessary for the preparation of such return
• The return upon being signed by the person required to make it shall be received by the Commissioner as the return of such person
6/23/2016
9
Execution of Returns
• If any person required by the Internal Revenue Code or by the regulations to make a return fails to make such return at the time prescribed therefore, or makes, willfully or otherwise, a false, fraudulent or frivolous return, the Commissioner or other authorized Internal Revenue Officer or employee shall make such return from his own knowledge and from such information as he can obtain through testimony or otherwise
• The Commissioner or other authorized Internal Revenue Officer or employee may make the return by gathering information and making computations through electronic, automated or other means to make a determination of the taxpayer’s tax liability
Form of the Return
• A document (or set of documents) signed by the Commissioner or other authorized Internal Revenue Officer or employee shall be a return if the document (or set of documents) identifies the taxpayer by:– Name and taxpayer identification number– Contains sufficient information from which to compute the taxpayer’s tax
liability, and – Purports to be a return
• A Form 13496, “IRC Section 6020(b) Certification,” or any other form that an authorized Internal Revenue Officer or employee signs and uses to identify a set of documents containing the information, and the documents identified, constitute a return under section 6020(b)
• A return may be signed by the name or title of an Internal Revenue Officer or employee being handwritten, stamped, typed, printed or otherwise mechanically affixed to the return, so long as that name or title was placed on the document to signify that the Internal Revenue Officer or employee adopted the document as a return for the taxpayer
• The document and signature may be in written or electronic form.
6/23/2016
10
Example
• Individual A, a calendar‐year taxpayer, fails to file his 2003 return• Employee X, an Internal Revenue Service employee, opens an
examination related to A’s 2003 taxable year• At the end of the examination, X completes a Form 13496, “IRC Section
6020(b) Certification,” and attached to it the documents listed on the form
• Those documents explain examination changes and provide sufficient information to compute A’s tax liability
• The Form 13496 provides that the Service employee identified on the form certifies that the attached pages constitute a return under §6020(b)
• When X signs the certification package, the package constitutes a return package, identifies A by name, contains A’s taxpayer identifying number (TIN), has sufficient information to compute A’s tax liability, and contains a statement stating that it constitutes a return under section 6020(b)
• In addition, the Service will determine the amount of the additions to tax by treating the § 6020(b) return as the return filed by the taxpayer
Status of Returns
• Any return made and signed by the Commissioner or other authorized Internal Revenue Officer or employee shall be good and sufficient for all legal purposes except insofar as any Federal statute expressly provides otherwise
• Furthermore, the return shall be treated as the return filed by the taxpayer for purposes of determining the amount of the addition to tax under § 6651(a)(2) and (3)
6/23/2016
11
Substitute for Returns
• If your client fails to file, IRS may file a substitute return called an SFR
• This return will not give the client credit for deductions and exemptions they may be entitled to receive
• IRS will send a Notice of Deficiency CP3219N (90‐day letter) proposing a tax assessment
• The client will have 90 days to file the past due tax return or file a petition in Tax Court
• If neither in done, IRS will proceed with the proposed assessment
Can I Still File a Return if an SFR has been filed?
• Yes, it is in your clients best interest to file
• For example:
– IRS does not know if your client is single or married
– They do not know if there are dependents that can be claimed
– They do not have business expenses that can be deducted or basis of stock that can offset capital gains
– They base the return on information documents like Form W‐2 and Form 1099 only
6/23/2016
12
SFR Assessment Process
• The first notice the taxpayer will receive showing the IRS is preparing an SFR is a “Notice of Proposed Individual Tax Assessment” (Letter 2566), also known as the 30‐day letter
• The letter will notify the taxpayer that the IRS has no record of the individual tax return for a particular tax year and the IRS is proposing to assess taxes against the taxpayer in a certain amount
• The IRS will also add interest and penalties to the amount of the proposed taxes
• The notice will show what income sources the IRS used in preparing the SFR
• The taxpayer has 30 days to file their own tax return, agree to the IRS’s proposed assessment and collection of the taxes or dispute the IRS’s proposed assessment
SFR Assessment Process
• When the taxpayer receives the 30‐day letter, the best thing to do is to call the IRS before the 30 days runs out and inform the IRS agent that the taxpayer will be filing their own tax return
• If for some reason they cannot file within the 30‐day time period, request additional time to file from the IRS
• Once the return is on file, the IRS will review the return and determine whether to accept and process it
6/23/2016
13
SFR Assessment Process
• If the taxpayer fails to respond to the 30‐day letter, the IRS will send you a “Notice of Deficiency” (Letter 3219), also known as a 90‐day letter
• The 90‐day letter states the amount of tax owed, plus penalties and interest
• The letter will notify the taxpayer that within 90 days, they must submit their own tax return, agree to the IRS’s proposed assessment and collection of the taxes or dispute the IRS’s proposed assessment
• It also advises the taxpayer that if they dispute the amount of the assessed tax, they have the right to appeal to the United States Tax Court by filing a petition no later than the 90‐day deadline
• The taxpayer does not have to file a petition with the Tax Court as long as they file their own tax return with the IRS within the 90 days
Obtaining Documents
• First determine what years your client has and has not filed
• Form 4506 or Form 4506 T can be used to obtain this information as well as all information documents filed
• If client does not have copies of returns filed and originals are needed file Form 4506
• Each year costs $50.00
6/23/2016
14
Obtaining Documents
• Use Form 4506 to obtain other information
Return Transcript
• Is not the actual return
• Only provides some but not all information on the return
• It will not reflect changes to the account
• Only available for the current year and 3 preceding years
6/23/2016
15
Account Transcript
• Contains information on the financial status of the account, such as – payments made on the account– penalty assessments– adjustments made by your client or the IRS after the return was
filed
• Return information is limited to items such as tax liability and estimated tax payments
• Account transcripts are available for most returns• Most requests will be processed within 10 business days • If no returns have been filed this transcript will only
payments on the account like estimated taxes or withholding
Record of Account
• The Record of Account provides the most detailed information as it is a combination of the Return Transcript and the Account Transcript
• Available for current year and 3 prior tax years
• Most requests will be processed within 10 business days
6/23/2016
16
Filing Verification
• Proof from the IRS that your client did not file a return for the year
• Current year requests are only available after June 15th
• There are no availability restrictions on prior year requests
• Most requests will be processed within 10 business days
How to Get an IRS Verification of Non‐Filing Letter
• Available on the IRS website at www.IRS.gov• In the Tools section on the homepage, click “Get Transcript for My Tax
Records”• Click “Get Transcript Online”• Under “Sign Up”, select “Create an Account”• If you already have an account, enter your user ID under “Sign In”• Enter the name and email address• Click on “Send Email Confirmation Code”.• Retrieve and enter the confirmation code• Click on “Verify Email Confirmation Code”• Enter the tax filer’s social security number, date of birth, tax filing status,
street address, and zip or postal code• Use the address currently on file with the IRS, generally, this will be the
address that was listed on the latest tax return filed• However, if an address change has been completed through the U.S. Postal
Service or Form 8822, the IRS may have the updated address on file
6/23/2016
17
How to Get an IRS Verification of Non‐Filing Letter
• Select checkbox and click the "Continue" button to proceed as guest• Proceeding as a guest user will require you to enter this information every time
you access the system• If you would like this information stored for future use do not check the
box• Click the "Continue" button to create a User ID and password• Answer 4 multiple choice security questions derived from your credit file• Select the reason for getting a transcript –“Higher Education/Student Aid”• Click on the tax year needed under “Verification of Non‐Filing Letter”• You will need:• 2012 to complete the 2013‐2014 Free Application for Federal Student Aid(FAFSA)
or • 2013to complete the 2014‐2015 Free Application for Federal Student Aid(FAFSA)• You can print the letter and/or save as a PDF• DO NOT save a letter unless you are on your personal computer• When finished, log out and close the browser
Information Documents
• Form W‐2, Form 1099 series, Form 1095 series, Form 1098 series, or Form 5498 series transcript
• The IRS can provide a transcript that includes data from these information returns
• State or local information is not included with the Form W‐2 information
• The IRS may be able to provide this transcript information for up to 10 years
• Information for the current year is generally not available until the year after it is filed with the IRS.
– For example, W‐2 information for 2015, filed in 2016, will likely not be available from the IRS until 2017. If you need W‐2 information for retirement purposes, you should contact the Social Security Administration at 1‐800‐772‐1213
– Most requests will be processed within 10 business days
• Caution. If you need a copy of Form W‐2 or Form 1099, you should first contact the payer. To get a copy of the Form W‐2 or Form 1099 filed with your return, you can use Form 4506 and request a copy of your return, which includes all attachments
6/23/2016
18
Who Can Request the Transcript?
• If the tax transcript is being mailed to a third party, ensure that the client has filled in lines 6 through 9 before signing
• Sign and date the form once these lines are completed• Completing these steps helps to protect privacy • Once the IRS discloses the tax transcript to the third party listed on
line 5, the IRS has no control over what the third party does with the information
• If the client would like to limit the third party's authority to disclose the transcript information, the client can specify this limitation in your written agreement with the third party
• Transcript requested. Enter the tax form number here (1040, 1065, 1120, etc.) and check the appropriate
Years and Period Requested
6/23/2016
19
Signature
Where to Mail or Fax
6/23/2016
20
Filing the Returns
• Original Returns can be filed
• Difficult to file amended returns as the client may not have all the information on the SFR filed
• IRS.gov has old return copies
• Send to the campus where the return is currently filed, NOT where it would have been filed based on old forms or instructions
• https://apps.irs.gov/app/picklist/list/priorFormPublication.html
Do You Have to Worry About Statutes?
• Yes and No
• Refund statutes expire in 3 years– Beyond 3 years the refund is barred
– BUT, balance dues do not expire until 10 years after the return was filed
– AND barred refunds cannot be applied to balance due amounts
• The return statute does not begin until the return is filed
6/23/2016
21
What Years/ What Entities
• To be in full compliance all years and entities must be filed
• IRS generally requested the last 6 years
• Some returns will need to be filed first such as any partnership/or S‐Corporations where a K‐1 would be needed on a personal return
• This would also include any trust fund returns such as Form 941, 943 or Form 940
Notices
• As each year is processed a notice will be sent including the tax due plus penalties and interest
• If the refund is barred by statute a notice will be issued explaining the refund cannot be issued
• For personal returns it is important to wait until all returns have processed and the tax has been assessed before deciding if a payment agreement or an Offer in Compromise is the best option for your client
6/23/2016
22
Social Security
Credit for Social Security Benefits
• In 2016, the client will receive one credit for each $1,260 of earnings, up to the maximum of four credits per year
6/23/2016
23
Disability
Section 1424 When can earnings records be revised after the time limit?• To add self‐employment income in a taxable year if an individual or the
individual's survivor establishes that:• A self‐employment tax return for that year was filed before the time limit
ran out; and• Either no self‐employment income for that year has been recorded in the
individual's earnings record, or the recorded self‐employment income for that year is less than the amount reported on the self‐employment tax return; or
• To add self‐employment income for any taxable year up to the amount of earnings that were wrongly recorded as wages and later deleted. This can be done only if a tax return reporting such self‐employment income is filed within three years, three months, and 15 days after the taxable year in which the earnings wrongly recorded as wages were deleted
• The self‐employment income must:• Be for the same taxable year as the year in which the wages were
removed; and• Have already been included on the individual's Social Security record
6/23/2016
24
Time Limits
IRS Help
6/23/2016
25
Options
• An IRS person must be assigned the case to assist
• All returns must be filed for the assignment of a collection officer
• You can request a collection officer be assigned to case especially if a large amount of money is involved
• IRS does not have to assign the officer
Payment Options
6/23/2016
26
Payment Options
• Refunds will automatically be applied to a year where a balance is due
• A full discussion with the client on how to pay should cover all the options available– Direct Pay– Extension of time to pay up to 120 days – Installment Agreement – user fee – Form 9465
• $120.00 some exceptions• $52.00 Direct Debit• $ 120.00 Payroll Deduction
– Offer in Compromise
Payment Options
• Taxpayers with income at or below 250% of the Department of Health and Human Services poverty guidelines may apply for a reduced user fee of $43
6/23/2016
27
Form 9465
Form 9465
6/23/2016
28
Form 9465
Form 9465
6/23/2016
29
Online Payment Plan Eligibility
• The client may be eligible to apply for an online payment agreement
• Individuals must owe $50,000 or less in combined individual income tax, penalties and interest, and have filed all required returns
• Businesses must owe $25,000 or less in payroll taxes and have filed all required returns
• If they meet these requirements, they can apply for an online payment agreement
Understand the Agreement
• Future refunds will be applied to the tax debt until it is paid in full;• Pay at least the minimum monthly payment when it's due;• IT MUST BE RECEIVED BY THE DUE DATE;• Include the name, address, SSN, daytime phone number, tax year
and return type on the payment;• File all required tax returns on time & pay all taxes in‐full and on
time (contact IRS to change any existing agreement if the client cannot);
• Make all scheduled payments even if the IRS applies the refund to the account balance; and
• Ensure the statement is sent to the correct address, contact IRS if the client moves or complete and mail Form 8822, Change of Address
6/23/2016
30
Statements
• If the client does not receive a statement, send the payment to the address listed in the agreement
• There may be a reinstatement fee if the agreement goes into default
• Penalties and interest continue to accrue until the balance is paid in full
• If the client is in danger of defaulting on the payment agreement for any reason, contact IRS immediately
Keeping Your Client in Compliance
• Most difficult part of this process
• Educate on recordkeeping
• Engage them as a client to assist with recordkeeping
• Set up periodic appointments to “touch base”
• Bottom line cost comparison of what it cost to get current verses what it will now cost to stay current
6/23/2016
31
Other Things to Consider
• For business returns – is the business still in operation ‐ if not final returns will need to be prepared
• Filing status
• Have dependents been claimed on other returns
• If bankruptcy is an issue, does the court require more than 6 years to be filed?
• Reconstruction of record issues
• Late returns generally have a higher audit rate
Brief Mention of Ethics Issues
• Comfort zone with records presented
• Comfort zone with the client and the oral information
• Is there “Due Diligence” yet to be performed?
• Can depreciation schedules be reconstructed correctly – remember allowed or allowable issues for years beyond 6 years
• Dot your I’s and cross your T’s
6/23/2016
32
Changes to the Iowa Farm and Urban Tax Schools
• It has been a season of change – this is good
• Our Fall and Winter Tax Schools are changing – this is good
• September 9, 2016 – Farm Tax Seminar
• All Farm issues All day
• For the winter tax schools, farm issues may come up but we will center on other issues important to your practice, including ethics for early bird attendees at some sessions
Please WelcomePhil Harris
• Professor, Agricultural and Applied Economics –University of Wisconsin‐Madison– J.D., University of Chicago, 1977– M.A., Economics, University of Chicago, 1975– B.S., Economics, Iowa State University, 1973
• His research program focuses on business and tax planning for agricultural producers
• The program includes information on the choice of entity for organizing a farm business and for transferring a farm business to the next generation
• Income, estate and gift tax consequences as well as non‐tax issues
6/23/2016
33
Phil Harris
Phil Harris CALT Speaker
• September 9, 2016 Farm Tax Seminar
• The session will also be available via webinar
• Instructor – Farm and Urban Tax School
• November 21 – 22 –Waterloo
• December 12 – 13 ‐ Ames
Fall Tax Schools
• Though they are named the Farm and Urban Tax Schools the schools cover more than farm issues
• Common return issues for all kinds of returns are covered• All kinds of business entities• Problematic issues• Sometimes we even get into to issues that you many
encounter only once or twice a year or tax season• The Tax Schools are a blend of diverse topics of interest to
all tax professionals• This year: New instructors with diverse backgrounds• Your adventure awaits at Iowa State’s Center for
Agricultural Law and Taxation
6/23/2016
34
Farm and Urban Tax Schools 2016
• November 2, 2016 to December 13, 2016 • 8 Locations in Iowa and Online Webinar• Save the Date for the 2016 Annual Farm and Urban Income
Tax Schools• The program is intended for tax professionals and is
designed to provide up‐to‐date training on current tax law and regulations– November 2‐3: Maquoketa– November 7‐8: Red Oak– November 9‐10: Sheldon– November 14‐15: Mason City– November 17‐18: Ottumwa– November 21‐22: Waterloo– December 5‐6: Denison– December 12‐13: Ames and Live Webinar
September Farm Tax SchoolNavigating Changing Times
• September 8, 2016 to September 9, 2016, Ames, Iowa and Online• Attend any one day or both days, either in‐person or online! Company
discount for 3 or more individuals from the same employer!• Ag Law Seminar, September 8• Our Thursday seminar will offer practical, interesting information you can
immediately apply in your practice or ag‐related business. You’ll leave with forms and other tools to help you more efficiently serve your ag clients.
• Farm Tax Workshop, September 9• Our Friday seminar will be a comprehensive one‐day farm tax workshop
designed to equip tax practitioners with the tools they need to prepare farm income tax returns, from the simple to the complex.
• Online Registration: https://goo.gl/pdJTK5
6/23/2016
35
Registration Fees
• Early Rate ‐ Registered on/by August 31– Attend in person or watch from your computer– Any one day: $200– Both days: $350– Company Discount: $10 discount per individual if 3 or more are
registered from the same employer ‐ this is available for either on‐site or online attendance
• Late Rate ‐ Registered after August 31– Attend in person or watch from your computer– Any one day: $220– Both days: $370– Company Discount: $10 discount per individual if 3 or more are
registered from the same employer ‐ this is available for either on‐site or online attendance
Continuing Education
• Ag Law Seminar (September 8)– Continuing Legal Education (CLEs) ‐ 7 hours (including one hour of ethics)
– Others Professional Education (CPEs) ‐ 7‐8 hours (including one hour of ethics)
• Farm Tax Workshop (September 9)– Continuing Legal Education (CLEs) ‐ 7 hours (including one hour of ethics)
– Others Professional Education (CPEs) ‐ 7‐8 hours (including one hour of ethics)
6/23/2016
36
Speakers
• Ag Law Seminar– Shannon Ferrell, Associate Professor, Agricultural Economics, Oklahoma State
University– Eldon McAfee, Shareholder, Brick Gentry P.C.– Erin Herbold‐Swalwell, Shareholder, Brick Gentry P.C.– Julia Vyskocil, Shareholder, Brick Gentry P.C.– Pat Dillon, Dillon Law P.C.– Professor Neil Hamilton, Director of Drake Law School Agricultural Law Center– John Baker, Iowa State’s Beginning Farmer Center Administrator– Jennifer Zwagerman, Associate Director of Drake Law School Agricultural Law
Center– Kristine Tidgren, Assistant Director for the Center for Agricultural Law &
Taxation
• Farm Tax Workshop– Philip E. Harris, JD, University of Wisconsin professor– Kristy Maitre, Tax Specialist with the Center for Agricultural Law & Taxation
Accommodations
• Quality Inn & Suites Starlite Village Conference Center
• 2601 East 13th Street, Ames, Iowa
• Discounted overnight rooms are available for $89.00 per night (for the dates of September 7, 8 and 9)
• Call the hotel at 515‐232‐9260 and mention you are attending the Iowa State University September Seminars
6/23/2016
37
Summer Webinars
• S Corporation Reasonable Compensation• Travel, Meals and Entertainment• Preparing for a Gambling Audit• Your Client Dies, What’s Next?• Innocent Spouse• Above the Line Deductions • Roth IRA’s• Net Operating Losses• The Portability Election• IRS Return Preparer Penalties Overview• Miscellaneous Income• New Developments
Summer Webinars
• Cancellation of Debt• Tax Research with Limited Resources• Injured Spouse• IRS Representation• Inventory Issues• Preparing for an IRS Audit• Getting your Client Right with IRS• Appeals – How to Write Your Appeals Request• Start Up Costs• Hobby Losses
6/23/2016
38
Beginning Tax PreparersClass
• CALT is working on offering a basic class for NEW tax preparers this fall in October
• The week long webinar will cover the basics an individual needs to know such as:– Requirement to file– Dependents– Filing Status– Itemized deductions– Education Credits
• Other issues a first or second year preparer needs to know as well as a refresher for others who need to brush up on issues
• The class will be a week long or more and will be offered at a special rate
The Scoop
• Throughout the filing season two Scoops will be held on Scoop Dates– 8:00 – 8:30 am Central time– 12:00 – 12:30 Central time
• This assists with accommodating our west coast practitioners
• The same information will be shared at both sessions• You have the option of registering for whatever
session suits your schedule• https://www.calt.iastate.edu/calendar‐node‐field‐
seminar‐date/month
6/23/2016
39
Future Scoop Dates
• June 22, 2016• July 6, 2016• July 20, 2016• August 24, 2016• September 7, 2016• October 5, 2016• October 19, 2016• November 16, 2016• December 14, 2016• http://www.calt.iastate.edu/calendar‐node‐
field‐seminar‐date/month
The CALT Staff
John D. Lawrence Interim DirectorAssociate Dean, College of Agriculture & Life Sciences Extension Programs and OutreachDirector, Agriculture & Natural Resources Extension132 Curtiss HallIowa State UniversityAmes, Iowa 50011‐1050
Kristine A. Tidgren
Assistant Director
E‐mail: [email protected]
Phone: (515) 294‐6365
Fax: (515) 294‐0700
6/23/2016
40
The CALT Staff
Kristy S. MaitreTax SpecialistE‐mail: [email protected]: (515) 296‐3810Fax: (515) 294‐0700
Tiffany L. KayserProgram AdministratorE‐mail: [email protected]: (515) 294‐5217Fax: (515) 294‐0700
