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Cherie Hennig, Professor
This former IRS revenue agent is now an author and Professor, teaching tax courses at the University of North Carolina, Wilmington, Florida International, Colorado State, the University of South Florida, and Virginia Tech
This instructor has 17 courses »To Access This Course:
This course discusses recent judicial and administrative tax decisions impacting corporations, pass-through entities, and individuals. A brief review of the judicial and administrative tax system includes a discussion of which court a taxpayer should use when an administrative remedy cannot be reached in an IRS audit. A review of salient court cases includes the following topics:
- Conservation easement deductions
- Retirement distributions
- Basis/Gain/Loss/Deduction issues
- Gifts/Inheritances
- Employment/Independent Contractor issues, including Sec. 530 relief
- Tax Administration issues relating to:
- Imposition of various penalties, including the accuracy-related penalty, the gross valuation misstatement penalty, fraud, and the failure to file/pay penalty.
This course also discusses how to avoid/minimize common mistakes made on tax returns.
Course Key Concepts: Tax Court Cases, Sec. 530 Relief, Conservation easement deductions, Capital Gain v Ordinary Income, Basis in assets, partnership interests, S Corporation Stock, Valuation Misstatement Penalties, Accuracy-related Penalties.
Learning Objectives
- Explore how the court system works when appealing an unfavorable IRS audit determination, and how the IRS administers the tax laws.
- Discover and understand the requirements for claiming a conservation easement deduction.
- Identify and understand the tax consequences of distributions from qualified retirement plans.
- Explore and understand how to recognize gain/loss on the disposition or gift of assets and ownership interests in pass-through entities.
- Discover the role of penalties in the administration of our tax laws and the need for “due diligence” when classifying workers as independent contractors rather than employees.
Last updated/reviewed: May 26, 2022
12 Reviews (95 ratings)Reviews
Anonymous
(Accountant)
The course provides sufficient update information to topics that are covered. The speaker is knowledge in this area, and provided a good number of cases to help learned to understand more about the topics.
Lorelle Fritsch
(Sr. Manager, Finance at World Kinect Energy Services)
The review of court cases made what might otherwise have been a dry course much more interesting and relevant.
Anonymous
(Corporate Accountant)
2020 Federal Tax Update is a great course with many case examples. I learned a lot from this course.
Anonymous
(Snr Tax Director)
2020 federal tax update - course provided relevant tax updates for the 2020 year
Anonymous
(Owner)
Great presentation. The cases help to understand and remember the information.
Anonymous
()
The notes provided for the course were not as detailed as other courses.
Anonymous
()
Great content and course! Very informative. I recommend it.
David Fisher
( at Toledo Zoological Society)
Nice update. More of a case study than a quick update.
Laura Hirschfeld
(CPA at Julia Clark & Associates, PC)
Interesting material - I enjoyed all the court cases!
Alice Jeanna Yu
(title at bank)
helpful and informative to learn more about the topic
Anonymous
(Controller)
This course covered the stated learning objectives.
Wenjie Jin
( at Emil Capital)
the material is okay. good to know the tax updates.
Prerequisites
Course Complexity: Foundational
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 .
1 QuestionCourse Questions and Answers
There are no questions. Answers to Frequently Asked Questions (FAQs)