IRS Notice 2022-6, Update to SEPP (72(t))

Course Description
Course Qualification
Presenter
FAQ

Course Description

The IRS recently issued IRS Notice 2022-6 which makes some changes to previous IRS guidance for Substantially Equal Periodic Payments (SEPP), also known as 72(t). For many of our clients, their retirement plans are their largest source of money. In a time when many clients are reprioritizing their lives and considering retiring early, IRS Notice 2022-6 may make this possibility more enticing.

However, if you take a distribution from your retirement plan before age 59 1/2, there may be a 10% early distribution tax. One of the exceptions to this penalty is taking advantage of SEPP.

Substantially Equal Periodic Payment, or SEPP, is a method of distributing funds from an IRA or other qualified retirement plans before the age of 59½ that avoids incurring IRS penalties for withdrawals.

In this CE/CPE Tax webinar, we will review the rules for SEPP and learn how IRS Notice 2022-6 may make it easier for our clients to take advantage of 72(t).

Learning Objectives

To discuss the overview of IRS Notice 2022-6.
To explain the various SEPP methods: RMD method, Amortization method, and Annuitization method.
To discuss the Exceptions to the Early Distribution Penalty.
To explain an example of how this Notice changes the SEPP calculation.
To review the various planning considerations before your clients take advantage of 72(t)

Recommended For

This Online Education Tax Course is recommended for CPA, EA, AFSP, CRTP, MRTP, ORTP, CFIRS, CWS, and any other tax professionals who want to understand the updates in IRS Notice 2022-6.

Who Should Attend?

Annual Filing Season Program
Bookkeepers & Accountants & Tax Preparers
California Registered Tax Professional
Certified Public Accountant (CPA)
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
Enrolled Agent
Maryland Tax Preparers
Oregon Tax Preparers
Tax Attorney
Tax Firm
Tax Managers
Tax Preparer
Tax Professionals
Young CPA

Course Qualification

Webinar Qualifies For

1 General Credit for Accountant/Bookeeper
1 CE Credit of Federal Tax Law Update for Annual Filing Season Program (AFSP)
1 CE Credit of Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0905)
1 CE Credit of Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-01074-22-O)
1 CE Credit of Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-01074-22-O)
1 CE Credit of Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-01074-22-O)
1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
1 CE Credit for Certified Wealth Strategist (CWS)
1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
1 PL Credit of Retirement Planning for Chartered Financial Analyst (CFA)
1 CPD Credit of Retirement and Financial Independence Planning for Personal Financial Specialist (PFS)
1 CPD Credit for Trust and Estate Practitioners (TEP)
1 CPE Credit of Retirement Planning for Chartered Financial Consultant (ChFC)
1 CE Credit for Certified Senior Advisor (CSA)
1 CE Credit of Qualified Retirement Plan Matters for Enrolled Retirement Plan Agent (Approval No. GEHNZ-Q-01076-22-O)
1 CPE Credit of Retirement Planning for Financial Services Certified Professional (FSCP)
1 CPE Credit of Retirement Planning for Chartered Advisor in Senior Living (CASL)
1 CPE Credit of Retirement Planning for Chartered Special Needs Consultant (ChSNC)
1 CPE Credit of Retirement Planning for Retirement Income Certified Professional (RICP)
1 CPE Credit of Retirement Planning for Wealth Management Certified Professional (WMCP)
1 PL Credit of Retirement Planning for Certificate In Investment Performance Measurement (CIPM)

Additional details

Course Level :

Basic
Credits :

1
Instructional Method :

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 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

Lawrence Pon, CPA/PFS, CFP, EA, USTCP, AEP

Owner, Pon & Associates

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.

About Company

Pon & Associates

www.larryponcpa.com/

We believe in the value of relationships. We view every client relationship like a partnership, and truly believe that our success is a result of your success. We are committed to providing close, personal attention to our clients. We take pride in giving you the assurance that the personal assistance you receive comes from years of advanced training, technical experience and financial acumen.

We provide a variety of services including:

Income Tax Preparation for all types of businesses, individuals, trusts, and estates.
IRS and State Audit Representation
Financial Planning
Estate Planning and Preparation
Business startup services including Business Planning
Tax Planning and Consulting
Charitable Planning

Our continual investment of time and resources in professional continuing education, state-of-the-art computer technology and extensive business relationships is indicative of our commitment to excellence.

Faq

FAQs content

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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.
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