myCPE
myCPE

Statute of Limitations 2 Credits

Aug 12, 2024, 09:30 AM ET

Statute of Limitations 2 Credits

  • Lawrence Pon

    CPA/PFS, CFP, EA, USTCP, AEP
  • Rating

    4.7
  • Published on

    December, 1969
  • Subject Area

    Taxes

Learning mode

Live Webinar
  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
  • Get your certificate
Aug 12, 2024, 09:30 AM ET

Learning Objective

  • To discuss the RSED to ensure that your clients do not miss out on claiming their rightful refunds.
  • To know about ASED to prevent your clients from facing unexpected tax liabilities
  • To advise clients on strategies to resolve their tax liabilities and prevent adverse collection actions.

Course Overview

The IRS recently reminded us that 2019 tax returns need to be filed by July 17, 2023, to claim any refunds on the 2019 tax returns, otherwise, the IRS will keep the refunds.  

As you recall, the IRS extended the filing deadline for 2019 tax returns to July 15, 2020, which extends the statute of limitations to claim the refund beyond April 15, 2023.  We will review the three very important statutes of limitations for taxes.  RSED - Refund Statute of Limitations.  ASED - Assessment of Statute of Limitations. CSED - Collections Statute of Limitations. Tax professionals need to understand this statute of limitation rules so their clients will not owe additional tax or lose their refunds.

Major Topics Covered:

  • IRS reminder: July 17 is the deadline for claiming 2019 refunds, subject to the Refund Statute Expiration Date (RSED) and statutory due dates.
  • Understand the Mailbox Rule §7502 and its application in timely filing refund claims, including amended returns and Form 843.
  • Recognize the rules for nonbusiness bad debts, NOL carrybacks, and claiming the Foreign Tax Credit.
  • Explore special considerations for military disability, financial disability, and equitable tolling in refund claims.
  • Learn about the sufficiency of the claim for refund, protective claims, and the process for addressing refund claim denials.
  • Understand the importance of the Assessment Statute Expiration Date (ASED), Collection Statute Expiration Date (CSED), Gift Tax Returns, and Employee Retention Credit.

Join this CE Tax Webinar to understand the statute of limitations rules which can help you to optimize your tax situation. Don't let the deadline slip by! Act now to file your 2019 tax returns and claim your refunds before it's too late. 

Podcast Credits

Short Video Credits

On Demand Credits

Live Credits

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Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

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 aintenance 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.

About Instructor

Lawrence Pon is a Certified Public Accountant, Personal Financial Specialist, Certified Financial Planner, Enrolled Agent, United States Tax Court Practitioner, and Accredited Estate Planner in Redwood Shores, CA 

Mr. Pon has been in tax practice since 1986 and speaks regularly to tax professionals and financial advisors on the latest tax planning and preparation topics.  

Mr. Pon enjoys helping his clients reach their financial goals through comprehensive tax planning and financial planning. 

Mr. Pon received his BS in Business Administration (Accounting & Finance) from UC Berkeley and MS in Taxation from Golden Gate University in San Francisco. 


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What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

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To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

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We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

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What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

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1,824 ratings

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JG

Josh Garry, Accountant/Bookkeeper/Tax Professionals

This was my second CPE experience with Mr. Pon and he did a wonderful job by adding those personal experiences or even adding a few jokes. I know statute of limitations may not be the best thing to listen to, but he had my full attention for the 2 hours.

Owen Mccafferty
Owen Mccafferty, CPA (US)

Great speaker on a seldom treated topic. He used the allotted time and then some. The subject needs more time. More war stories would help in solidifying the conceptualization of the Statute(s) of Limitations

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