A substantial tax development affecting millions of individuals, businesses, nonprofits, farmers, and every tax professional in the United States occurred in December 2015. For many years Congress had done nothing more than to extend prior tax provisions on an annual basis, but the Protecting Americans from Tax Hikes Act of 2015 (PROA) changes that. Now many tax provisions that were temporary have become permanent. Tax professionals and nonprofits will now be held to many new standards.

Our instructor, Stuart Sobel, does not just recite tax law; he explains it in plain English. He shares his nearly 50 years of tax wisdom gleaned from his 30 years of working for the IRS, almost 20 years in private practice, and many years of educating more than 50,000 tax professionals.

Course Topics:
• Permanent and extended tax provisions including
o Child tax credit
o EITC
o K-12 teacher expenses
o State and local general sales tax
• Charitable giving
o Distributions from retirement plans for charity
o Donations of food inventory
• Credits for jobs, investments, and innovation
o Energy credits – business and personal
o Depreciation – bonus and additional first-year
• Discharge of indebtedness
• Education expenses including 529 plans
• IRS practice changes
o Revised penalties and new tolerances
o New claim for refund requirements
o Taxpayer Bill of Rights
o Social welfare organizations
o Partnership audit rules
o Interest abatement cases
o More