2022 Clemson University Income Tax Course - Columbia- In-Person

General Tax Law Online: 3XKET-T-00026-22-I for up to 13 credit hours

Federal Ethics Online: 3XKET-E-00024-22-I for up to 2 credit hours

Tax Law Updates Online: 3XKET-U-00025-22-I for up to 3 credit hours

Federal Tax Law: 11.5 hours

Federal Ethics: 2 hours

Federal Tax Law Updates: 3 hours

South Carolina Tax Law Updates: 1.5 hours

Federal Tax Law: 11.5 hours

Federal Ethics: 2 hours

Federal Tax Law Updates: 3 hours

Tax Law: 13 hours

Ethics: 2 hours

Ronny Burkett, CPA, CVA: President, Burkett, Burkett & Burkett Certified Public Accountants PA, Columbia, SC

Mark J. Hendrix, CPA: Executive Vice-President, Burkett, Burkett & Burkett Certified Public Accountants PA, Columbia, SC

Daniel L. Crowson, CPA: Executive Vice-President, Burkett, Burkett & Burkett Certified Public Accountants PA, Columbia, SC

Evette Davis: Tax Specialist, Stakeholder Liaison, US Internal Revenue Service - IRS

Keith J. Wicker, CPM: Special Projects Coordinator, SC Department of Revenue – SCDOR

Marquita Simmons: Tax Law Coordinator, Employee & Taxpayer Education, SC Department of Revenue – SCDOR

Taxpayer Advocate, US Internal Revenue Service – IRS

Taxpayer Advocate, SC Department of Revenue – SC-DOR (Columbia event only)

Individual Tax Issues: This section covers several issues tax practitioners encounter when preparing individual income tax returns, including the following:

• Child tax credit and reconciling the advance credit
• Divorce tax issues
• Education credits
• Standard vs. itemized deductions

Business Tax Issues: This section discusses some of the issues that tax practitioners encounter when they prepare returns for clients who operate a business. Topics include the following:

• Nightly rentals
• Multilevel marketing
• Sale of a business

Business Entity Tax Issues: This section examines issues that pertain to business entities, including:

• Organizational standards for LLCs seeking exempt status
• 501(c)(4) social welfare organizations requirements and reporting
• Reporting requirements for S corporation basis.

Current Partnership Tax Issues: This section discusses partnership elections. It also explains tax issues when partnership interests are issued in connection with the performance of services. Finally, this section discusses tracking and reporting partnership basis.

Trusts and Estates: This section discusses the basis of inherited assets and the character of gain or loss on the sale of inherited assets. It explains when gifts in contemplation of death are included in the gross estate, and how irrevocable life insurance trusts and qualified personal residence trusts can reduce estate tax. This section also reviews when section 529 qualified tuition plan assets may be subject to gift tax, and when those assets are included in the gross estate of the plan owner or beneficiary.

IRS Issues: Topics that the IRS targets as key issues for practitioners, such as the following:

• Employer identification numbers
• Liens and levies
• Injured spouse allocation
• Gig economy
• IRS transcripts
• Tax Pro and online accounts

Tax Practice and Procedure: This section explains important tax practice and procedural issues, including amended and superseded returns, powers of attorney, and IRS assessments. It also explains the situations in which the IRS can hold a third party liable for the tax liability of another taxpayer as a transferee, nominee, or alter ego.

Ethics: This section discusses important issues that help tax practitioners comply with their ethical obligations. Topics include the following:

• Ethical considerations when giving tax opinions
• The ethical and legal benefits of email disclaimers
• Ethical duties for a tax practitioner serving as a trustee or other fiduciary
• Ten case studies that illustrate real-life ethical scenarios

South Carolina - Department of Revenue Issues: SC Tax Legislation, SC-DOR Security Updates, and update on South Carolina E-File.

And as in the previous years, dedicated sections to: Agriculture and Natural Resource Issues, New and Expiring Legislation, and Rulings and Cases.

“We have entered into an agreement with the Office of Director of Practice, Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, Section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors and length of class hours. This agreement does not constitute an endorsement by the Director of Practice as to the quality of program or its contribution to the professional competence of the enrolled individual.”

A noon meal is included on both days of the workshop. Refreshments are provided during breaks. Most facilities have problems maintaining a uniform temperature. For your comfort, we suggest you DRESS IN LAYERS.

Please visit our Tax School website to access all the program detailed information at:

https://www.clemson.edu/extension/taxschool/courses/income_tax_course/index.html

PROMOTIONAL CODE is available for pre-approved SC-DOR employees only.

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