Advanced Technical Tax Forms Training -- LLCs, S Corporations, and Partnerships (ATFB)

Friday, November 2, 2018 from 8:00 AM to 4:00 PM in Sioux City

8.00 CPE Credit Hours

Don't let the title frighten you. It is critical that staff be trained on the increasingly complex forms-related issues that challenge them each busy season. This course will help experienced staff avoid costly mistakes by addressing advanced preparation issues when dealing with flow-through entities such as S corporations, LLCs, and partnerships.
Designed For
CPAs who are involved in planning, preparing, or reviewing complex returns.
  • Properly complete several tax forms related to certain advanced technical issues which arise in preparing Forms 1065 and 1120S
  • Understand advanced technical practice issues facing practitioners
  • Advanced Technical Practice and Reporting Issues for all entities - Why are manhole covers round?
  • Don't get caught watching the paint dry, what is hot and new
  • IRS Battles against Blind Basis
  • Pernicious Precedents in Payroll Penalties, enforcement activities are hot
  • What is terminating S Corporations today?
  • Discuss a Proposal for a yet to be developed new tax form, which calculates S Corp basis, designed to be attached to individual returns.
  • Can I amend prior returns to correct an impermissible accounting method?
  • Depreciation Schedules are becoming shorter due to tax friendly safe-harbors
  • Can 179 and the de-minimus rule cohabitate?
  • How 179 limitations affect basis in partnership, LLC, and S corporation
  • When to use "704(b) basis" for capital accounts versus "tax basis"
  • Detailed rules of 704 for preventing the shifting of tax consequences among partners or members
  • Unreasonable uses of the traditional and curative allocation methods
  • Capital account adjustments with admission of new member/partner
  • Special allocation issues of 704, including economic effect, the "dumb-but-lucky" rule, and substantially
  • Social Security Issues - CBO's proposals geared for commencement in the next decade
  • Special allocations (allocating a taxable gain that has a book loss)
  • Review of final regulations on S corporation "open debt"
  • Basis neither increased by phantom income, nor reduced by non-deducted pass-through losses
  • So what is next with the Department of Labor
  • Taxable distribution in excess of basis and reporting issues to shareholders
  • Battling employee vs. independent contractor questions and the Voluntary Classification Settlement Program (VCSP)
  • Advanced depreciation issues
  • Final regulations for allocating depreciation recapture to partners and members of LLCs
Basic- to intermediate-level experience in preparing Forms 1120S and 1065
Advanced Preparation
Surgent CPE, LLC
Edward Harter, Surgent CPE, LLC
Level of Knowledge

Course Location

Delta Hotels By Marriott South Sioux Riverfront
E 4th and B Streets
S Sioux City, NE 68776



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