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Preview: Lorman Accounting Teleconferences

Lorman Accounting Teleconferences



Industry Leading & Respected Continuing Education



Last Build Date: Mon, 20 Nov 2017 12:30:01 GMT

 



Eggshell Audits: Protecting Your Client in a Criminal Examination

Mon, 20 Nov 2017 02:00:15 America/Chicago

December 20, 2017

Do I Have to Produce My Client During an IRS Eggshell Audit?

• The Investigative Tools Available to an IRS Agent

• Power and Procedure Surrounding an IRS Summons

• Clients Right to Representation Under IRC §7521(c)



What Exactly Is an Eggshell or Reverse Eggshell Audit?

• Tax Avoidance vs. Tax Evasion – Where Is the Line Drawn?

• What Are the Likely Signs That an Audit Has Resulted in a Referral From the Auditor to the Criminal Investigation Division of the IRS?

• What Exposure Is Created for the Tax Professional That Prepared the Returns Under Audit or Investigation by Representing His or Her Compliance Client?



Criminal Tax Defense Basics for the Tax Professional

• What Are the Basics of Performing as a Kovel Accountant

• What Are the Common Methods Employed by the Criminal Investigation Division to Prove Tax Fraud Occurred?

• How Is the Most Favorable Outcome for the Client Achieved?






Federal Tax Classification of Series LLCs

Mon, 20 Nov 2017 02:00:17 America/Chicago

December 7, 2017

Background on Series LLC

• History

• Development

• Differences in Laws and Concepts: Multistate Overview



Use Cases

• When and When Not to Use; Avoiding Tax Issues

• Best Structures and Practices to Avoid Tax and Other Problem Areas

• Limiting Uncertainties as to Classifications



Current Issues

• Tax Issues

• Bankruptcy Issues

• Uniform Laws and Future Developments

• Interstate Issues






Limited Liability Companies: Common Traps to Avoid

Mon, 20 Nov 2017 02:00:35 America/Chicago

January 18, 2018

LLC Tax Traps

• Will an LLC Always Be Taxed as a Partnership?

• Tax Traps for Investor Member vs. Operating Member

• Disregarded Entity Classification

• Self-Employment Taxation for Members

• Entity Classification Election Form 8832



Charging Order Landmines

• Judgement Creditor of a Member

• Statutory Charging Orders

• Assignable Interest in the LLC

• LLC Operating Agreement Provisions



Selection of the Single-Member LLC

• Single Member LLCs: The Albright Case, the Olmstead Case, and Other Related Cases



LLC Veil-Piercing Mistakes That Expose Personal Liability

• Piercing the LLC Veil

• Violation of Duty to Impose Member Personal Liability

• Fraud or Misrepresentation to Impose Member Personal Liability

• Consumer Protection Act Violation to Impose Member Personal Liability

• Unfair and Deceptive Practices to Impose Member Personal Liability

• Wrongful Withholding of Employment Wages to Impose Member Personal Liability

• Alter Ego Theory to Impose Member Personal Liability



LLC Operating Agreement Provisions Respecting Members and Membership

• Alternative Dispute Resolution Provisions - Management Deadlock

• Specific Member and Manager Member Voting Provisions

• Specific Manager Member Management Authority

• Specific Provisions for Securities Compliance

• Specific Provisions for Sale and Transfer Ability of a Member's Interest






Minnesota LLC Law Updates

Mon, 20 Nov 2017 02:00:15 America/Chicago

November 29, 2017

Overview of Minnesota's New LLC Act, Chapter 322C

• Background

• Key Differences

• Why You Should Care



Management Models Available Under 322C

• Discussion of 3 Models

• How to Choose



Implications and Risks for LLCs Formed Under Minnesota's Prior LLC Act, Chapter 322B

• Effect of 322C

• Effect on Existing Organizational Documents

• Strategies for Addressing Risks



Minority Member Issues

• No Dissenters Rights

• The End of "Squeeze out" Mergers?

• Strategies for Protecting Minority Members

• Strategies for Protecting the Company and Majority Members






New and Enhanced FBAR and FATCA Reporting Requirements

Mon, 20 Nov 2017 02:00:21 America/Chicago

December 14, 2017

Overview of FBAR and FATCA Rules



FATCA Foreign Asset Reporting Rules

• Internal Revenue Code Section 6038D

• IRS Form 8938 and Instructions

• Who Is Required to File Form 8938?

• What Foreign Assets Are Required to Be Reported?

• Penalties for Nonfiling



Update on FBAR Reporting Requirements

• Who Is Required to File an FBAR?

• What Is Required to Be Reported on an FBAR?

• Comparison of Form 8938 and FBAR Filing Requirements

• Penalties for Nonfiling



FATCA Information Reporting Obligations for Foreign Banks

• Background on FATCA Law and Regulations and Timetable for FATCA Implementation

• Obligations of Foreign Financial Institutions (FFIs)

• Status of Intergovernmental Agreements

• Implications for U.S. Taxpayers With Foreign Bank Accounts



Update on IRS/DOJ Enforcement Activity

• Criminal Enforcement of FBAR Reporting Requirements

• Civil Enforcement/FBAR Audits

• The Likely Future of Enforcement Activity






Successfully Maneuvering the Tax Maze of Amortization Rules

Mon, 20 Nov 2017 02:00:26 America/Chicago

January 3, 2018

Overview

• Relevant Provisions

• When the Rules Apply



Framework for Application of the Tax Rules on Intangible Assets and Benefits

• Capitalization Basics Under the Section 263 Regulations

• Amortization Basics Under Sections 197 and 167



Acquired and Created Intangibles

• Capitalization vs. Expensing

• Amortization

• Examples



Transaction Costs

• Capitalization vs. Expensing

• Simplifying Conventions

• Amortization

• Examples



Special Rules

• 12-Month Rule

• Accounting Methods



Business Acquisitions

• Types of Costs Involved

• Capitalization and Allocations

• Amortization

• Examples



Recent Developments

• Section 197

• Capitalization Versus Expensing



On the Horizon

• IRS/Treasury Activities

• Legislative Proposals

• Tax Reform Relevance






Taxable and Tax-Free Distributions

Mon, 20 Nov 2017 02:00:04 America/Chicago

January 11, 2018

Taxable Corporate Distributions of Cash and Other Property to Shareholders

• Dividend Treatment Test

• Earnings and Profits

• Nimble Dividend" Rule

• Qualified Dividends

• Extraordinary Dividends

• Dividends Received Deduction

• Additional Considerations for Cross-Border Distributions



Tax-Free Corporate Distributions of a Business to Shareholders

• Qualification Requirements

• Value Extraction Techniques

• Mergers With Third Parties