Overview 2.0 Credits ONLINE With continuous changes resulting from COVID-19, join federal tax expert and Georgia tax guru Art Auerbach, CPA, for Part 1 of a two-part series to explore tax, accounting and practice implications. Part 1 will address federal tax issues as well as state tax issues to include Georgia and surrounding states.
Major Topics Federal tax issues to be covered: Filing deadlines, a review of the IRS’s FAQ’s issued 3/23/20. How to deal with extended payments. The payments approved by Congress to go back to taxpayers. Section 108 and forgiveness of indebtedness. IRS processing issues, given that their programs, many, are still written in a 1963 COBOL computer language. What to do if taxpayers are non-filers. Procedural issues including processing protests and appeals. The Form 990 deadline in May was NOT extended, how to deal with non-profit organizations. Changes in the recently enacted NOL rules. The Kiddie Tax and the new election regarding changes previously enacted by the Congress. Much more as items are issued by the tax authorities. State tax issues to be covered: Where do the states stand with all of the above. Are there differences, bear in mind that what a taxpayer pays in Federal tax in some states is a deduction. What about state refunds. Conformity, for example some states, like Georgia have a static or fixed date conformity others have what is known as rolling conformity. Where does Georgia stand with the Georgia House passed flat tax. What about payments and collections of sales taxes, hotel taxes and property taxes, where are they in the extension world. Many other issues will be discussed.
Designed For Public and industry accountants at all levels interested in remaining current on professional, technical and relevant regulatory requirements
