Description

<p>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:</p>

<ul>

<li>Conservation easement deductions</li>

<li>Retirement distributions</li>

<li>Basis/Gain/Loss/Deduction issues</li>

<li>Gifts/Inheritances</li>

<li>Employment/Independent Contractor issues, including Sec. 530 relief</li>

<li>Tax Administration issues relating to:

<ul>

<li>Imposition of various penalties, including the accuracy-related penalty, the gross valuation misstatement penalty, fraud, and the failure to file/pay penalty.</li>

</ul>

</li>

</ul>

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

<p>Course Key Concepts: <b>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.</b></p>