2023 Form 1065 and K-1 (2 hours - morning) – Webcast
-
(Check-In 7:30am)
Online
2.0 Credits
Member Price $95.00
Non-Member Price $125.00
Overview
On IRS 2023 Forms 1065, Schedules K-1 and Instructions, IRS continues to ask for tons of new detailed information. In this action packed 2 hour program, you’ll learn:
- Tax basis capital account reporting - What must be computed and disclosed (and by when)
- New disclosures required re: liability guarantees, deficit restoration obligations and related info
- New info re: changes in partners' percentages of profit and loss
- Other info re: disregarded entity partners, notices of inconsistent positions, SE taxability of state law limited partners and more
- Highlights of new IRS SB/SE audit guide
Highlights
- Capital accounts - Tax basis reporting tweaked again
- 2023 Form 1065 and Schedule K-1 - Reporting requirements
- Disregarded entity partners - Disclosures, depth of implications
- 3 year average annual gross receipts test - 5 places it matters
- Basis in partner's partnership interest - New timing, timing, timing, timing
- Disguised sales - Form 1065 question re: partner disclosure
- Aggregation of at-risk activities - Disclosures with sticky implications
- Grouping of passive activities - Disclosure and detail required
Designed For
CPAs and tax practitioners
Objectives
- Tax basis capital account reporting - What must be computed and disclosed (and by when)
- New disclosures required re: liability guarantees, deficit restoration obligations and related info
- New info re: changes in partners' percentages of profit and loss
- Other info re: disregarded entity partners, notices of inconsistent positions, SE taxability of state law limited partners and more
- Highlights of new IRS SB/SE audit guide
Leader(s):
Leader Bios
Bradley Burnett, Attorney at Law, Bradley Burnett Tax Seminars LTD
Bradley Burnett, J.D., LL.M., is a practicing Colorado tax attorney with 33 years of tax practice experience. His practice emphasis is on tax planning and tax controversy resolution. He also prepares a handful of tax returns. Prior to establishing his own law firm in 1990, he practiced tax accounting with national and local CPA firms, worked as a trust officer for a Denver bank and managed the tax department as partner in a medium-sized Denver law firm. After receiving his undergraduate degree in accounting and law degree (J.D.), he earned a Master of Laws (LL.M.) in Taxation from the University of Denver School of Law Graduate Tax Program.
Mr. Burnett has delivered more than 3,000 presentations on U.S. tax law throughout all fifty U.S. states, Washington, D.C., the Bahamas, Italy, Greece, Turkey and Canada. He has authored texts of 35 CPE courses. Bradley served as adjunct professor at the University of Denver School of Law Graduate Tax Program, where he pioneered an employment tax course and occasionally pinch hit teaching the IRS practice and procedure topic. He has appeared on television answering tax questions for call-in viewers of Denver NBC affiliate KUSA Channel 9. Brad received the Illinois Society of CPAs Instructor Excellence Award for teaching in Chicago and five times has been the top rated, most requested instructor for CPA Society annual tax conferences. Burnett's seminar style is to deliver the subject matter in briskly paced, enthusiastic and witty fashion. His forte' is the candid communication of practical ideas relating to tax law.
(9/17/20)
Non-Member Price $125.00
Member Price $95.00
This event is cancelled