Section 529 plans have been in existence since 1996. Every major tax law bill has expanded the 529 plan in some way. While Section 529 plans have been part of the college financial planning toolkit, tax professionals often ask many questions about Section 529 plans. Over the past five years, we have seen the expansion of qualified expenses to include rollovers to the ABLE (Achieving Better Life Experience) accounts and the inclusion of secondary and elementary schooling as qualifying expenses. The tax law changes of December 2019 made other changes to the Section 529 plan and the CARES Act further enhanced the 529 uses. SECURE and SECURE 2.0 also updated the 529 plan.  This module seeks to raise the tax professional’s awareness of the scope of Section 529 and answer commonly asked questions. (2 Fed CE, Taxation)

FBAR and Form 8938

As our world shrinks into one global community, more and more clients have global tax concerns. Just a few years ago, discussions of global tax concerns stayed among the affluent client bases. Now, clients are investing globally. Companies moved operational centers to other countries often bringing our clients to work outside the United States.   Clients are increasingly holding funds in foreign bank accounts. Sometimes these accounts are in their origin nation or in countries where the client either is or was employed or attended school. (1 Fed CE, Taxation)

Form 1099-K update

This seminar explores Form 1099-K latest developments including, reporting requirements, common challenges, and specific reporting scenarios for different transaction types. Participants will gain a comprehensive understanding of accurate Form 1099-K filing, enabling them to navigate its intricacies effectively. (1 Fed CE, Taxation)

2024 Tax Season Issues

This seminar will cover Traditional and Roth IRA adjusted gross income phaseout limits and explains the tax consequences of Roth IRA backdoor conversions. It will explain new required minimum distribution rules and penalties. We will also cover the new laws concerning penalty free retirement plan distributions and new retirement plan limits will be fully explained. We will cover which expenses qualify as higher education expenses for 529 distributions. We will also explain the taxation and how to report nonqualified 529 plan distributions. We will review Filing Status, the Child and Dependent Tax Credit and Kiddie Tax rules including several examples. We will also cover Schedule A including medical expenses, state tax deductions, mortgage interest and contributions. Estate Tax and Gift Tax, Section 179 expenses and Bonus depreciation will also be covered. (2 Fed CE, Taxation)

Ethics conflicts of interest

In order to ethically serve taxpayers, a tax professional must recognize potential or actual conflicts of interest. The resolution of potential or actual conflicts of interest first requires that the character of the conflict of interest be recognized and disclosed to the affected parties. This seminar will delve into the area of conflicts of interest that come up during client engagement from the perspective of IRS Circular 230. (2 Fed CE, Ethics)

**As a chapter of NATP we cannot offer Federal topics as a webinar, it is a violation of our charter with NATP, these classes cannot be offered as webinars