AICPA's Annual Federal Tax Update

Description

The IRS, U.S. Treasury, and U.S. Tax Court have been busy over the past year. This comprehensive course covers the past year's most salient legislative, judicial, and regulatory developments with a focus on implementation and compliance. Topics are organized by affected taxpayer: individuals, general business entities, passthrough entities, C corporations, and estates and trusts. The course also covers key reminders for tax practitioners, including the impact of two U.S. Supreme Court rulings and the sunsetting of Tax Cuts and Jobs Act provisions. Whether you're looking to catch up on SECURE 2.0 required minimum distribution final regulations or beneficial
ownership information reporting requirements, this course has what you need to enter the next tax season.

Highlights

  • Inflation adjustments
  • Tax Cuts and Jobs Act provisions sunset
  • Moore v. United States and Loper Bright v. Raimondo
  • Section 17 4 research and experimental expenditures
  • Beneficial ownership information reporting
  • New and updated tax credits
  • SECURE 2.0 required minimum distributions
  • Digital asset reporting
  • Conservation easements
  • International tax final regulations
  • Generation-skipping transfer tax
  • U.S. Tax Court cases

Objectives

  • Identify the correct 2024 rate tables and standard deduction applicable to filers.
  • Identify the impact of consequential U.S. Supreme Court rulings.
  • Identify clarifications made to the Section 17 4 research and experimental
  • expenditures regulations.
  • Recognize updates to retirement plans in 2024 that affect employers.
  • Recognize updates to required minimum distribution requirements.
  • Recognize the impact of recent tax cases on pass-through entities.
  • Recognize recently released international tax guidance relevant to corporations.
  • Recognize updates to the generation-skipping transfer tax.

Designed For

Public accounting senior associates, managers, and partners; tax professionals in company finance or tax departments

Leaders

Joseph Sanford

Joe is currently a commissioner for the Arkansas Tax Appeals Commission, an independent tribunal with tax expertise dedicated to resolving disputes between the Department of Finance and Administration and taxpayers. As a Commissioner, Joe is responsible for hearing cases and rendering decisions. Joe earned a BSBA degree from the University of Arkansas in 1977 with a major in accounting and a minor in computer sciences. Joe is a Certified Public Accountant and a Member of the Arkansas Society of CPAs (ARCPA). Joe retired after a 44-year career in public accounting as President and CEO of Sanford & Company, CPAs. Early in his career, he was an audit manager in a large CPA firm in Fort Smith, Arkansas. While involved in all aspects of his accounting firm, he focused on estate planning, litigation support, management consulting and technology consulting. Soon after his retirement in 2021, he was appointed a Commissioner for the Arkansas Tax Appeals Commission by Governor Hutchinson. At various times during his career, Joe served as a Director of the ARCPA, Chair of the ARCPA Ethics Committee, Continuing Education Committee, and Peer Review Committee, and as a member of the ARCPA Legislative Committee. Joe was also a member of the AICPA Ethics Committee and served as president of the Western Arkansas Estate Planning Council and the Western Arkansas Chapter of the ARCPA. For nearly 20 years, Joe has served as a moderator for various tax, accounting, technology, and ethics continuing education seminars for CPAs, and was named ARCPA Discussion Leader of the Year for 2012 and 2016. Joe has taken great pleasure in volunteering his time and expertise to local non-profit organizations that are focused on assisting children, either by providing emergency shelter or by providing quality education. Joe is married to Kathy (46 years). They have two sons, two granddaughters, and three grandsons.