Tax Professionals’ Guide: Mastering Form 4797 Challenges 2 Credits
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Dec 03, 2024 | 03:00 PM
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The intricacies of Form 4797, often overlooked, are a crucial part of your role as a tax professional, especially when it comes to accurately reporting on business asset sales.Â
This CE Course will analyze the nuances of the form and its specific applications. Throughout the course, we will systematically dissect the form, highlighting common pitfalls and best practices.
Focusing primarily on the sale of business assets, Form 4797 includes various aspects that may confuse even seasoned professionals. Beyond the essential reporting, we will discuss the peculiarities of preferred stock, mark-to-market traders, Section 1244 stock, and small business investment company stock. These unique elements can significantly impact how gains and losses are reported, making it imperative to explore them thoroughly. By analyzing these aspects, attendees will understand the form's application comprehensively.
Key topics covered:
Join this CPE course, it is not just about learning but also about empowerment. It aims to equip you with the skills necessary to navigate the complexities of Form 4797 confidently. Through interactive discussions and practical examples, you will gain actionable insights that can be applied immediately.Â
For more CE Tax Courses, Click here.
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Advance Preparation
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Nicholas has worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nicholas has authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of the AICPA’s Tax Executive Committee. Nicholas is an adjunct professor at the University of Mary Washington. He is a graduate of Carthage College, University of Connecticut (M.S. in Accounting), Case Western Reserve University School of Law (J.D.), and Georgetown University (LLM in Taxation).
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RMK
Very informative and you covered a lot of information in a short period of time. I thought there was a little extra time spent on the IRC 1244 Stock. In 22 years of preparing taxes I have never had this come up with a client. I thought the illustration of how to complete the Form 3115 was very helpful.
Love taking the classes that Nicholas teaches -- he provides actual stories along with the information to make the presentation easier to follow. Also like that he shows us the actual forms and how the information flows through them.
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