CPE Self-Study

AICPA's Annual Federal Tax Update

  • $189.00-$239.00
    AICPA's Annual Federal Tax Update In Stock Product #: 731149
    AICPA Member: $189.00
    Non-Member: $239.00
  • $159.00-$199.00
    AICPA's Annual Federal Tax Update Online Access Product #: 163742
    AICPA Member: $159.00
    Non-Member: $199.00
  • Contact Sales
    Contact a representative for group pricing or on-site training opportunities. 800.634.6780 (Option 1) | Contact Us Product #: GT-PTU

Stay up-to-date on the latest tax developments! This comprehensive CPE course covers all legislative, judicial, and IRS developments of the past year with an emphasis on implementation and compliance. Determine how to effectively and confidently complete tax-planning and compliance engagements. Apply current developments affecting individuals (including those regarding income, deductions and losses, tax calculations, individual credits, filing matters), business entities (including those regarding S Corporations and their shareholders, C Corporations, partnerships), estates and trusts, retirement plans, and more.

Learning Objectives

This course will prepare you to:

  • Identify the PATH Act extenders related to income and deductions
  • Recognize the circumstances when the 60-day rollover requirement may be waived
  • Recognize the requirements for HAS contributions
  • Recall the requirements for deduction of work clothing
  • Identify the requirements for charitable contributions
  • Identify the limitations on the Section 179
  • Recognize instances where business expenses will not be deductible
  • Recognize the purpose of each hobby loss criteria
  • Recall the recognition period for S corporation built-in gain
  • Identify the new partnership audit rules
  • Recognize the factors used to determine when a disguised sale occurs
  • Identify the types of real property interest subject to 15-year depreciation
  • Indicate the tax-free rollover requirements
  • Calculate the adjusted federal long-term rate under IRC Section 382
  • Indicate when a company is entitled to a deduction related to stock-based compensation
  • Recall the purpose of Form 3115, Application for Change in Accounting Method
  • Recognize the elements of the all events test
  • Select the basis of property inherited from a decedent
  • Calculate the penalties for late filing of information returns

Topics Discussed

Legislative developments, regulations issued, and recent IRS rulings and guidance for the following:

  • IRS rulings, procedures and notices for the last year
  • Court cases settled in the last year that provide tax return guidance
  • IRS administrative issues, compliance, and new forms
  • Individual Income, Deductions, and Business Activities
  • Pass-Through Entities and Passive Activities
  • Depreciation and Amortization
  • Retirement Plans and Fringe Benefits
  • Corporate Income, Deduction, Gains, and Losses
  • Accounting Methods and Periods
  • Estates, Gifts, and Trusts
  • Compliance

System Requirements

About the Authors

Charles A. Borek, CPA, JD, MBA

Columbia, MD

Chuck Borek is a CPA and attorney with over 20 years of professional experience dealing with both business and nonprofit clients and has served in the capacity of officer and board member for several entities. He is also an award-winning speaker on a variety of accounting topics, having conducted over 300 live and web-based presentations across the country.

After serving for several years as a partner in a regional CPA firm in the Washington, DC area, Chuck founded The Borek Group, LLC, which develops professional education materials for both CPAs and lawyers. He concurrently acts as a consultant to the Columbia, Maryland firm of Davis, Agnor, Rapaport & Skalny, LLC.

In addition to his professional experience, Chuck has taught graduate students at American University and at the University of Baltimore and undergraduate students at Prince George's Community College in Maryland, where he held the position of Associate Professor of Accounting from 1998 to 2003. He is also a former Commissioner on the Howard County (Maryland) Pension Oversight Commission. Chuck has authored multiple books, articles, and professional publications for many organizations, including AICPA and BNA. He is currently working on several projects for a variety of publishers.

About the Publisher


About the AICPA The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 412,000 members in 144 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.

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