Agenda – TPI
2019 In-person event photo
Register
- 7:30 AM - 7:50 AM
VIRTUAL SESSION SIGN-IN
- 7:50 AM - 8:00 AM
Opening Announcements & Remarks
Tim Hobbs - Deputy District DirectorSBA - 8:00 AM - 8:50 AM
Form 1040 Topics
Provide tax professionals with a review and update on Form 1040. Emphasis will be on areas of the Form 1040 that cause confusion, expiring provisions and updates.
Sharanya Rajendran - Assistant ManagerWIPFLI - 8:55 AM - 9:45 AM
Credits For Families With Children
Learn to differentiate between tax credits and deductions, refundable and non refundable, child tax credit, dependent care credit including preparer due diligence requirements
Sharanya Rajendran - Assistant ManagerWIPFLI - 9:45 AM - 9:55 AM
Break
- 9:55 AM - 10:45 AM
2022 Maine Tax Update
Review changes to 2022 tax forms, discuss recent tax legislation, pending tax legislation, tax planning strategies to consider before year end
Jeff BragdonMaine Revenue Service - 10:50 AM - 11:40 AM
Preparation of Form 1041
Provide tax professionals with a working knowledge of applicable tax laws and preparation of fiduciary income tax returns.
Sharanya Rajendran - Assistant ManagerWIPFLI - 11:40 AM - 12:40 PM
Lunch Break
- 12:40 PM - 1:40 PM
Income Tax Considerations for Your Deceased Client
Learning objectives:
- Be familiar with basic procedures and best practices upon death of a client
- Identify the tax compliance responsibilities of the person in charge of an estate
- Understand the special allocations required for preparation of the final individual income tax returns
- Identify compliance issues unique to estate income tax returns
Kelly Pelletier, Principal - Tax Senior Manager, JD CPABaker Newman Noyes - 1:45 PM - 2:35 PM
Schedule C Topics
Gain an understanding of specific Schedule C topics including: Self-employed health insurance deduction, home office deduction, business use of vehicles, and qualified business income deduction.
Jim Cardosi, CPA - Senior ManagerWIPFLI - 2:35 PM - 2:45 PM
Break
- 2:45 PM - 3:35 PM
Due Diligence Form 1040 and Updates
Provide tax professionals with the specific due diligence requirements when preparing returns claiming various tax credits and head of household filing status.
Stephen Connor - Senior Stakeholder LiaisonIRS Communications & Liaison Division - 3:40 PM - 4:40 PM
Circular 230: Practicing ‘Inside the Lines’ throughout the Tax Engagement Lifecycle
Provide tax professionals with the basics of the IRS Office of Professional Responsibility, who is subject to Circular 230, what it means and how practitioners might be penalized.
Timothy J. McCormally – Acting DirectorIRS Office of Professional Responsibility - 4:30 PM
Adjourn
CE certificates will be mailed
VIRTUAL SESSION SIGN-IN
Opening Announcements & Remarks
Form 1040 Topics
Provide tax professionals with a review and update on Form 1040. Emphasis will be on areas of the Form 1040 that cause confusion, expiring provisions and updates.
Credits For Families With Children
Learn to differentiate between tax credits and deductions, refundable and non refundable, child tax credit, dependent care credit including preparer due diligence requirements
Break
2022 Maine Tax Update
Review changes to 2022 tax forms, discuss recent tax legislation, pending tax legislation, tax planning strategies to consider before year end
Preparation of Form 1041
Provide tax professionals with a working knowledge of applicable tax laws and preparation of fiduciary income tax returns.
Lunch Break
Income Tax Considerations for Your Deceased Client
Learning objectives:
- Be familiar with basic procedures and best practices upon death of a client
- Identify the tax compliance responsibilities of the person in charge of an estate
- Understand the special allocations required for preparation of the final individual income tax returns
- Identify compliance issues unique to estate income tax returns
Schedule C Topics
Gain an understanding of specific Schedule C topics including: Self-employed health insurance deduction, home office deduction, business use of vehicles, and qualified business income deduction.
Break
Due Diligence Form 1040 and Updates
Provide tax professionals with the specific due diligence requirements when preparing returns claiming various tax credits and head of household filing status.
Circular 230: Practicing ‘Inside the Lines’ throughout the Tax Engagement Lifecycle
Provide tax professionals with the basics of the IRS Office of Professional Responsibility, who is subject to Circular 230, what it means and how practitioners might be penalized.
Adjourn
CE certificates will be mailed
Register
Maine Tax Workshops Advisory Team
We greatly appreciate the assistance of the Maine Tax Workshops Advisory Team in planning this agenda. Their experience with the chosen topics was a great resource for the SCORE planning team.