Learn how to avoid common errors and penalties when determining eligibility for IRS Refundable Tax Credits such as the American Opportunity Tax Credit, Child Tax Credit and Earned Income Tax Credit. You’ll also hear how due diligence can benefit you, your clients and your business. IRS subject matter experts will offer tips and resources to help you prepare and file accurate claims for refundable tax credits.
Learn about such things as: Why we changed the ITIN procedures, The Five-year Expiration Period, ITIN Certification Changes and Exceptions, The C A A Application Process, and, New Training requirements.
This webinar focuses on 2012 tax law, including; Schedule C limitations, Exercising Due Diligence, Identity theft, Expiring Provisions, Enhancements to TaxWise software, 2012 Tax Law and Tax Forms, Where’s My Refund? – An online tool to check the status of taxpayers’ refunds.
What is foreclosure or repossession of real property? Learn about taxable cancellation of debt (COD) income. Find out about exceptions and exclusions under IRC 108. Hear about reduction of tax attributes and Form 982.
Employers should remind their employees that all tips received are taxable. They should report their tips to their employer. The best way to do this is to use IRS Form 4070, Employee's Report of Tips to Employer, or a similar statement.