With the plethora of Tax Cuts Jobs Act (TCJA) unanswered questions coming at us like a pack of defensive linemen, this tax season is (or at least seems to be) out of control. Approaches by tax software companies are “all over the board” moving targets. Clients want their tax returns now. If the IRS scrutinizes a return (years later), they’ll have the benefit of hindsight. Much of the law is messy, messy, messy, messy.
What is a tax preparer to do? One approach is to disclose uncertainties (re: §199A or any other messy area) to IRS on tax returns now. Yes, that’s right, kiss and tell. Tell the adversary what you’re up to. All for the sake of seeing you and your client through to a better day.
Want to learn the ropes as to how? Take our new 2-hour course and learn:
Determine how to properly support and disclose accounting positions.
Identify important considerations relating to disclosure as well as the related regulations and penalties.
Bradley Burnett, J.D., LL.M., is a practicing Colorado tax attorney with 33 years of tax practice experience. His practice emphasis is on tax planning and tax controversy resolution. Mr. Burnett has delivered more than 3,000 presentations on U.S. tax law throughout all fifty U.S. states, Washington, D.C., the Bahamas, Italy, Greece, Turkey and Canada. He has authored texts of 35 CPE courses. Mr. Burnett’s seminar style is to deliver the subject matter in briskly paced, enthusiastic and witty fashion. His forte is the candid communication of practical ideas relating to tax law.
CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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