Monthly Tax Update with Ed Zollars - Navigating the Labyrinth: Federal Income Tax Issues in Divorce (2 hours - morning) - Webcast
Overview
Stay in the know with this monthly tax update series, featuring Ed Zollars, CPA. Each month, Ed breaks down a different federal tax topic so you can stay on top of the changes and provide optimal service to your clients.
This session is designed to equip seasoned tax professionals with the knowledge to expertly guide clients through the complex federal income tax implications of divorce and separation. This course delves into critical areas, providing a comprehensive understanding of how federal tax law intersects with state family law, particularly in community property states like Idaho. Practitioners will gain insights into proper filing statuses, property transfer rules, dependent claims, and strategies for minimizing tax burdens during marital dissolution.
OSCPA has partnered with the Idaho Society of CPAs for this event.
Highlights
This session will cover:
- Filing Status Determination: Proper federal income tax filing statuses during and after divorce.
- Property Transfers (IRC §1041): Nonrecognition rules, basis carryover, and special exceptions for property transfers incident to divorce.
- Dependent Allocation & Child Tax Credit (IRC §152(e)): Rules for claiming dependents and the Child Tax Credit, including Form 8332.
- Head of Household Filing Status: Requirements for Head of Household status for separated and divorced individuals.
- Principal Residence Exclusion (IRC §121): Application of the home sale exclusion in divorce-related transactions.
- Community Property Impact: The unique tax implications of divorce in community property states, with a focus on Idaho.
Designed For
CPAs and tax professionals
Objectives
- Get Up-to-date information on a variety of tax topics
Leader(s):
Leader Bios
Edward Zollars, Partner, Thomas Zollars & Lynch Ltd
Edward K. Zollars, CPA-AZ, is in public practice in Phoenix, Arizona as a partner with the firm of Thomas & Zollars & Lynch, Ltd. He has been in practice for over twenty-five years, specializing in tax issues for closely held businesses and individuals. Ed has been professionally involved with both tax and technology issues, combing the two disciplines in starting the first tax podcast (Ed Zollars Tax Update, produced weekly dealing with current tax issues. He has been a member of AICPA Tax Division Committees dealing with tax and technology issues and was the Tax Section's representative on three occasions to the AICPA's Top Ten Technologies project. Ed is also a member of the Phoenix Tax Workshop's Advisory Committee, and currently serves on the Tax Legislation Liaison Committee for the Arizona Society of CPAs.Ed was selected as a Life Member by the Arizona Society of CPAs in May of 2010. Ed is a co-author of the Arizona Income Tax Guide published by the Phoenix Tax Workshop, and has written articles published in Practical Tax Strategies and the Tax Adviser. He has been a frequent contributor to a number of professional tax discussion groups, and served as systems operator on the AICPA's Accountants Forum in the mid 1990s. He has spoken regularly on tax and technology topics since 1996, speaking before conferences sponsored by the AICPA and a number of state society of CPAs.
(02/25/25)
Non-Member Price $120.00
Member Price $100.00