1040 Tax Update Seminar with Chris Bird

This year’s tax workbook will include a wide range of relevant topics including:

• A Trust and Estate chapter, including covering planning strategies using the annual gift tax exclusion. In addition, the chapter covers how to make discounted gifts of interest in an FLP, and how to avoid common IRS challenges to those discounted gifts.
• A Penalties and Defenses chapter, important for the coming IRS audit and collection activities. This chapter covers what defenses can be asserted and available administrative and statutory penalty relief.
• A Form 4797 chapter.  An old friend of Chris’, Vince Kloeckner, a well-respected IRS appeals officer, taught him that if a tax professional understands Form 4797, they know a lot about tax law.
• An Individual Tax Issues chapter, dealing with the new regulations covering the Premium Tax Credit, the new Clean Vehicle Credits and new Home Energy Credits.  The majority of the new credits impact 2023 and going forward.
• A New and Expiring Legislation chapter, which always provides the question of whether we will have any new and important last-minute legislation from Congress and the current administration.