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A brief review of the judicial system includes a discussion of which court a taxpayer should use when an administrative remedy could not be reached in an IRS audit.

A review of salient court cases includes the following topics:  

  • Reasonable compensation
  • Constructive Dividends
  • Determining what is an allowable charitable contribution deduction
  • Recognizing gain/loss from the disposition of corporate assets
  • Tax Administration issues relating to:
    • Misclassification of workers, Sec. 530 relief
    • Federal Tax Liens 
    • Imposition of various penalties, including the accuracy-related penalty, the gross valuation misstatement penalty, and the failure to file/pay penalty
    • Claims for refund

This course also discusses how to avoid/minimize common mistakes made on tax returns.

Key Course Concepts: Tax Court Cases, Reasonable Compensation, Sec. 530 Relief, Debt v Equity, Charitable Contributions, Capital Gain v Ordinary Income, Basis in S Corporation Stock, Federal Tax Liens, Valuation Misstatement Penalties, Refund Claims

Learning Objectives

  • Discover how the court system works when appealing an unfavorable IRS audit determination.
  • Explore how to determine if compensation paid to key employees is “reasonable.”
  • Recognize the importance of substantiating business deductions to avoid their disallowance and potential reclassification as constructive dividends.
  • Recognize the importance of distinguishing between capital and ordinary gains/losses.
  • Discover the requirements for claiming a charitable deduction.
  • Recognize the need for “due diligence” when classifying workers as independent contractors rather than employees.
  • Explore the role of penalties in the administration of our tax laws.
Last updated/reviewed: July 12, 2019

4 Reviews (25 ratings)Reviews

5
Anonymous Author
interesting discussion of the judicial tax updates for 2019
4
Member's Profile
Cases were well summarized and easy to understand
4
Member's Profile
Very good update. Instructor did a good job.
5
Member's Profile
really good

Prerequisites

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION and OVERVIEW
  5:17Introduction to the 2019 Judicial Tax Update
  13:10Federal Judicial System
Tax Cases
  22:56Tax Cases - Reasonable Compensation, Constructive Dividends
  9:08Tax Cases - Debt V Equity
  14:28Tax Cases - Other Expenses
  15:22Tax Cases - Other Expenses (Continued)
  7:21Tax Cases - Gain/Loss
  15:27Tax Cases - Tax Administration
  2:46Conlcusion
Continuous Play
  1:45:542019 Judicial Tax Update
SUPPORTING MATERIALS
  PDFSlides: 2019 Judicial Tax Update
  PDF2019 Judicial Tax Update Glossary/Index
REVIEW and TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM