2012 Income Tax Course Topics

 Topics for 2013 will be determined before registration is open.

• New Legislation (S.C. and Federal), Tax Legislation enacted in late 2011 and in 2012

• Rulings and Cases – From September 2011 through August 2012

• Individual Taxpayer Issues:  Gifts to family, Elder care records and documentation, Homeowners

• Tax Practice Due Diligence:  regarding EIC and Form 1099 follow-up, post filing issues

• Estate and Gift Taxes:  Types of trusts, Schedule K-1 (Form 1041), Grantor filing requirements, distributable net income, lifetime giving vs. inheritance tax implications, Family Limited Partnerships

• Business Entities:  Controlled groups, distributions from entity, Personal Service Corporations, abandonment of interest in equity, LRC-1244

• Business Issues:  Simple 125 plans, fringe benefits, health insurance credit, AMT-NOL

• Update on Agricultural Issues

• Retirement Plans: how to withdraw from plans with maximum savings, types of investments allowed, qualified plans, interaction of plans

• IRS Issues:  Limits on RTRP representation, consultant vs. return preparer, innocent and injured spouse, power of attorney and declaration of representative, Form 1099 requirements for small businesses, disqualifications of retirement plans

• SCDOR:  Update on S.C. E-File and 2D barcode filing, update on recent developments concerning income, sales and use and property taxes

• Ethics:  Tax scams, conflicts of interest, disclosure of information, Privacy Act notification