30% Off on Unlimited Access, Unlimited courses and credits for just $199. Hurry! (offer expires on May 17th) Click here to start.

Centralized Partnership Audit Rules

  • ACCT/BK
  • AFSP
  • CRTP
  • CPA (US)
  • CVA
  • EA
  • ORTP
  • Maryland Tax Prep.
  • CBA/MCBA
  • CFIRS
  • CWS

Published: July, 2020

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • TCJA - §199A Pass-Through Deduction
    4 mins
  • Imputed Underpayment
    12 mins
  • Scope of CPAR
    20 mins
  • The CPAR Options
    22 mins
  • Partnership Representative
    61 mins
  • Agreements Affected by CPAR
    69 mins
  • State Conformity with CPAR
    80 mins
  • Planning for CPAR
    87 mins

Course Description

Partnerships Taxed Like C Corps "If We Don’t Defend - IRS Audits Rules Potentially Expensive"

The "Bipartisan Budget Act of 2015" enacted a new centralized partnership audit regime, which is generally effective for taxable years beginning after Dec. 31, 2017.Effective in 2018 (coming like a freight train), a whole new IRS partnership audit regime (New Centralized Partnership IRS Audit Rules (CPAR)) kicks in. Partnerships (and LLCs) will become strange new beasts taxed like C Corps. Is this the beginning of the end for partnerships as we know them? Escape routes are available, but not for all. Advance planning is a must to avoid a massive train wreck. All partnership and LLC operating agreements must be amended now.

The IRS has made sweeping changes in his Centralized Partnership Audit Rules (CPAR) and those changes could bring nasty surprises for partnerships that aren't prepared. There are critical changes that might need to be made in your partnership clients' documents today in order to avoid potential disaster down the road on audit.

Understand how the new regime will be implemented in conjunction with previously-promulgated rules allowing for an election out of the regime. Learn how to identify critical operational provisions and effectively navigate partnership audits under the new regime. Course topics cover the scope of the new rules, partnership representative determinations, treatment of partnership items by the partners, push-out partnership adjustment elections, notices of proceedings and adjustments, and more.The new rules make significant changes in the way partnerships interact with the IRS during audits, including a new election to opt out of the regime and the requirement to select a partnership representative. This webinar reviewed the new rules and provided valuable information to help partnerships and their owners prepare for changes ahead. 

Key highlights:

  • Explain how the new partnership audit rules are different from the current rules 
  • Identify actions taxpayers will be required to take on their tax returns 
  • Identify steps that can be taken now to prepare for the new rules

This webinar is designed for all CPAs, EAs, tax preparers and staff who work with partnership taxation issues.

Learning Objectives

  • To recognize the new Centralized Partnership Audit Rules
  • To identify new rules and regulations when filing Partnership returns
  • To learn how to Interpret strategies for effective planning
  • To recognize Demonstrate that clients are meeting compliance regulations
  • To identify recommendations for how to best prepare for CPAR

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounts Director
  • Enrolled Agent
  • Entrepreneurial Accountant
  • Tax Accountant (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros

Course Qualification

Webinar Qualifies For

  • 2 CE Credit for Annual Filing Season Program (AFSP)
  • 2 CE Credit for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0206)
  • 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 2 CE Credit for Enrolled Agents (EA) (Approval No. GEHNZ-T-00195-20-S)
  • 2 CE Credit for Oregon Registered Tax Preparers (ORTP)
  • 2 CE Credit for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00195-20-S)
  • 2 CPE Credit for Certified Valuation Analyst (CVA)
  • 2 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookkeeper (ACCT./BK)

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the 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 IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a 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 website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Shelli Huston, CPA, MS

Owner, Werner-Rocca Seminars. Ltd

Shelli Huston is an Oregon native. She attended Warner Pacific College where she received a Bachelors in Business with an Emphasis in Accounting. After obtaining her CPA's license, she continued on to Golden Gate University where she received her Master's Degree in Taxation.

Shelli worked in a small tax firm for many years. In 2006, she opened up her own tax and accounting firm. She has watched her business grow and expand to include teaching and writing. Shelli has over 20 years of experience in personal, business, estate, trust, and gift taxation, as well as QuickBooks and payroll. She enjoys working with clients of all types and small businesses, especially new businesses.

Shelli is passionate about the importance of being the best professionals we can be. This profession comes with an inherent integrity that takes work to uphold. Through her participation in education, she is excited to assist in upholding the professionalism of the accounting and tax profession.

About Company

Werner-Rocca Seminars. Ltd

www.werner-rocca.com/

Werner-Rocca Seminars, Ltd., is the premier company in the United States providing Continuing Professional Education to CPAs and other financial professionals.  Specializing in the areas of Estate Planning, Financial Planning, Asset Protection Planning, Retirement and Fringe Benefit Planning, and Tax Planning, Werner-Rocca Seminars provides "Cutting-Edge CPE"​ training in many different educational formats.  These formats include live seminars, video streaming through the internet, and self-study.


Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

5

2 Ratings

Excellent

2

Very Good

0

Average

0

Poor

0

Terrible

0

LP

Linda Phillips, EA

Nov 25th, 2020

good

We use cookies to improve your experience on our website. Cookies store information about how a user interacts with Website. By clicking "Accept Cookies", you agree that MY-CPE LLC can store cookies on your device. All your data is anonymised and cannot be used to identify you.