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Course Details

2015 Tax Shelter Update (Video) (Course Id 957)

Updated / QAS / Registry / EA
Author : Stuart Sobel, Enrolled Agent (EA), Author, Radio Host, Indiana University Faculty
Status : Production
CPE Credits : 2.0
IRS Credits : 2
Price : $29.95
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 957

Description :

Over the years abusive tax shelters have evolved from simple transactions into very sophisticated strategies that often border on tax evasion schemes. There is nothing wrong with sheltering tax through legal tax shelters.

This class takes an in-depth look at recent developments in one of the Internal Revenue Service’s most targeted areas. IRS is constantly shifting its resources to counteract what it perceives to be abuses in tax compliance. Congress has initiated new penalties against taxpayers, tax professionals, appraisers, and promoters of transactions, which in the eyes of the IRS, have no economic substance. The vast majority of cases that the United States Tax Court hears are those dealing with tax shelter issues.

If your practice includes high-income taxpayers, AMT filers, or people who believe that in America tax avoidance (not tax evasion) is permissible, then this class is a must for you. It will help you to stay current and to understand new developments in this important area of taxation. If it sounds too good to be true, it probably is not true!

Topics covered include:

    • 2014 and 2015 tax shelter court case rulings, and more
    • Techniques to determine the economic reality of a shelter investment versus a tax sham
    • 2014 new developments including court cases, rulings, and other IRS pronouncements
    • Examples of individual and corporate tax shelters
    • Pitfalls of being a promoter of abusive tax shelter schemes and the possibility of IRS sanctions – 2014 developments in IRS 6700, 6701, and 7408 enforcement
    • Techniques for avoiding substantial understatement of income penalty and overvaluation penalties – update of recent court cases
    • IRS examination techniques used during audits of purported tax shelters
    • Identification of IRS-identified abusive foreign tax schemes with emphasis on the UBS bank debacle
    • 2015 IRS industry tax shelter targets
    • Value of disclosing a questionable position
    • IRS real estate project – material participation

Usage Rank : 0
Release : 2018
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 02-Apr-2018
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - IRS Enrolled Agents - 957

Keywords : Taxes, 2015, Tax, Shelter, Update, Video, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

Upon successful completion of this course, participants will be able to:
    • Identify what the IRS defines as an abusive tax shelter scheme
    • Understand the IRS approach to counteracting abusive tax shelter schemes
    • Effectively advise and represent clients
    • Understand techniques for avoiding penalties and possible sanctions for improper tax practice
    • Determine whether actions taken as a client’s representative are in compliance with IRS Circular 230
    • Help clients understand the economic realities of a marketed tax shelter
    • Understand 2014 tax shelter changes and receive an update on changes that will occur in 2015
Course Contents :

Chapter 1 - 2015 Tax Shelter Update

Chapter 1 Review Questions

Tax Transcript Glossary

CPE Taxes Course: https://www.cpethink.com/irs-ea-cpe-courses
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