This chapter covers business tax legislation that was enacted by the Tax Cuts and Jobs Act (TCJA). It is organized by code section to help participants quickly find topics of interest and includes:

  • A summary of each provision
  •  Cross-references to other chapters to help participants find further information
  •  Effective dates to help participants keep track of when provisions begin and when they expire

This chapter covers individual tax legislation that was enacted by the TCJA. It is organized by code section to help participants quickly find topics of interest and includes:

  • A summary of each provision
  • Cross-references to other chapters to help participants find further information
  • Effective dates to help participants keep track of when provisions begin and when they expire

This chapter summarizes selected rulings and cases that were issued from September 2017 through August 2018 to give participants an update on issues that are being addressed by the IRS and the courts. The rulings and cases are organized under topic headings that match the titles of other chapters. 

This chapter discusses current issues in choice of entity and new laws and procedures for tax exempt-entities. Topics include how the TCJA impacts the choice of a business entity, the new exemption application for 501(c)(4) organizations, new rules that allow a 501(c)(3) organization to change its form or place of organization without a new exemption application, and other new developments for tax-exempt entities.

This chapter discusses some of the issues that tax practitioners encounter when they prepare returns for clients who have rental property or operate a business. Topics include:

  • Comprehensive examples that illustrate how to maximize the QBI     deduction for a business
  • Employee fringe benefits
  • Calculating the QBI deduction for a real estate investor
  • Flow-through of the QBI deduction to partners and S corporation     shareholders
  • New rules that impact micro-breweries, wineries, and distilleries
  • This chapter discusses important issues that help practitioners comply    with their ethical obligations. Topics include:
  • Due diligence for FBAR reporting, marijuana clients, and claiming    refundable credits or head of household status
  • Practice continuation for the sole practitioner (including a sample    practice continuation agreement)
  • Best practices for providing tax advice by email
  • Ten case studies that illustrate real-life ethical scenarios

This chapter covers several issues tax practitioners encounter when preparing individual income tax returns, including:

  • The child tax credit and the new tax credit for dependents
  • Tax issues for divorcing spouses, including planning for repeal of the    alimony deduction
  • Choice of filing status, and TCJA provisions that may impact how to file
  • Schedule A vs. the standard deduction, including ways to take     advantage of charitable and other deductions for the taxpayer who     claims the newly increased standard deduction

This chapter covers issues the IRS targets as key issues for practitioners. Topics include:

  • Data security, tax scams, and identity theft
  • Passport revocations or denials for delinquent taxpayers
  • The current-status of the IRS, including a review of the challenges the     IRS is facing in trying to implement the new legislation

This chapter reviews payroll withholding requirements from the employer’s perspective and discusses estimated tax payments from the employee’s perspective. It includes information on the new wage withholding rules and updated IRS tools to help ensure the correct amount of withholding and estimated tax. 

This chapter covers common retirement tax planning and savings issues including:

  • IRA rollovers, conversions, and recharacterizations
  • Hardship distributions and plan loans
  • New and existing rules for ABLE accounts and Section 529 accounts

This chapter contains important tax practices and procedures, including: 

  • When a partnership can and should opt out of the new partnership audit    rules
  • IRS liens and levies
  • Collection alternatives such as installment plans and currently not     collectible status
  • When the taxpayer owes the IRS interest and when the IRS owes the     taxpayer interest
  • Requesting technical advice from the IRS