This presentation will cover the basics of the Qualified Business Income Deduction (Section 199A) which is allowed as part of the Tax Reform and Jobs Act enacted on Dec. 22, 2017. Some of the areas that will be discussed include who is eligible for the deduction, an overview of the deduction, what is Qualified Business Income (QBI). Also included will be a review of a Qualified Trade or Business (QTB), rentals, pass-thru entity reporting, QBI components, losses, computation, and resources. We will also provide updates for the 2019 tax year including reporting and forms revisions.
IRS
Senior Stakeholder Liaison
Odette Turenne is a Senior Stakeholder Liaison with the Stakeholder Liaison office of the Internal Revenue Service Communications & Liaison Division.
Odette began her career with the Internal Revenue Service 32 years ago as a Revenue Agent in the Examination Division of the Small Business/Self-Employed Operating Division of IRS.
Currently, as a Senior Stakeholder Liaison, Odette represents the IRS at education and outreach events and works with tax professionals, payroll providers, industry and trade associations, small business owners, and other federal, state and local government agencies. She speaks at organization meetings, conferences, seminars, forums, and workshops on tax related topics relevant to the tax professional or small business audience.
Odette is a graduate of Bryant University in Smithfield, Rhode Island, where she received a Bachelor of Science degree in Accounting.
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.
CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222
CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222