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Top Federal Tax Issues for 2020

Get a deep dive into the top 2020 federal tax issues.

The Tax Cuts and Jobs Act, passed at the end of 2017, is entering its third year. The IRS continues to pass regulations in attempts to define, explain and implement the law, one of the most far-reaching and complicated tax law changes in recent memory. Both businesses and individuals continue to face an array of new rules to try and integrate into their tax planning for 2020 and beyond. This topic will take a deep dive into all of the legislative and IRS administrative changes, as well as the judicial decisions, that occurred in 2019 that will impact how you manage your 2020 taxes.

Learning Objectives

  • You will be able to identify changes made in the Tax Cuts and Jobs Act
  • You will be able to identify further Consolidated Appropriations Act (Including SECURE Act)
  • You will be able to recognize Qualified Business Income (Sec. 199A) Updates
  • You will be able to differentiate between cases that impact tax law.

Runtime: 102 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Tax Cuts and Jobs Act Two Years Later

  • Qualified Business Income Regs
  • Rental Real Estate Safe Harbor
  • Revenue Recognition
  • Qualified Opportunity Zone Regs
  • Section 163(j) (Business Interest Limitation)

Legislative

  • Prospect of New Tax Legislation
  • Taxpayer First Act
  • Further Consolidated Appropriations Act (Including SECURE Act)

SALT in the Wound?

  • 10,000 SALT Deduction Cap
  • Co-op Exception
  • State SALT Workarounds
  • Federal Taxation of SALT Refunds
  • Judicial Challenges

Administrative

  • Reporting Partner Capital
  • Qualified Business Income (Sec. 199A) Updates
  • Foreign Partner Withholding
  • Virtual Currency

Judicial

  • Economic Substance
  • Charitable Contributions
  • IRS Attempts to Bypass Regulatory Process
  • Investment Interest
  • Timely Mailed Is Timely Filed
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on April 3, 2020.

Call 1-866-352-9540 for further credit information.

  • CPE/NASBA - QAS Self Study 2.6 including Taxes 2.6
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.6 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.6 hours. Prerequisite: basic knowledge of taxation. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

William Smith

William Smith

CBIZ, Inc.

Bill Smith

  • Managing director in the CBIZ, Inc. MHM National Tax office
  • Monitors federal tax legislation and consults nationally on a broad range of domestic tax services for businesses and individuals, including IRS procedural and controversy matters
  • Authored numerous tax articles, edits all of the CBIZ MHM thought leadership articles, and lectures on a broad range of tax topics across the country
  • Co-presents a business tax update every quarter entitled Eye on Washington
  • Frequently quoted in nationally recognized publications including the Wall Street Journal, New York Times, Barron’s and the Washington Post, as an authority on tax topics and professional ethics; he has been profiled in Forbes, and appeared as a commentator on NPR, CNBC and Fox News and Fox Business
  • In 2013, he was selected as a Washington D.C. Power Player by SmartCEO Magazine – one of a dozen lawyers, bankers and accountants selected in the inaugural year of the program’s existence; in 2017 he was honored again by SmartCEO Magazine as a Washington, D.C. Center of Influence
  • Having entered through the honors program, he spent the first five years of his career with the Dept. of Justice, Tax Division, trying tax cases on behalf of the United States (including jury trials in federal district court)
  • For over 30 consecutive years, he has received the preeminent ranking in legal ability and ethical standards from his peers, the highest rating available, from Martindale Hubbell, a division of Lexis-Nexis
  • Graduated with his law degree, magna cum laude, Florida State University College of Law, where he won a National Moot Court Championship and chaired the new membership for the Law Review
  • Active member of the California Bar, inactive member of the Florida Bar, and a member of the ABA Tax Section
  • Can be contacted at 301-961-1943, [email protected] or @BillSmithTax1
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Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 407687
Published 2020
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