Don Farmer's Preparing Form 1065: Navigating the Latest IRS Changes for Partnership Returns
Overview
“The IRS has made big changes to Form 1065, and we’re here to help you stay ahead. We’ll guide you through a comprehensive, hands-on course for preparing Form 1065. You’ll get an in-depth look at the latest updates and new requirements, along with practical guidance on how to accurately complete partnership tax returns under these new rules. Whether you’re new to partnerships or a seasoned pro, this session will sharpen your skills and boost your confidence heading into tax season.
This course is part of a two-seminar series. Take it as a stand-alone seminar or sign up for the entire series for a comprehensive passive activity training.”
Highlights
Changes on Schedule K
Schedules K-2 and K-3
When does a business involving spouses require a partnership return?
How to eliminate late-filing penalties for partnership returns
When must a partnership return be filed?
How to apply the bonus depreciation rules to partnership step-ups under §743
New IRS form allowing revocation of section 754 election
When it’s possible to revoke the election
Answering Form 1065 questions on passive activity grouping
Designed For
Tax Professionals
Objectives
Identify circumstances under which a business involving only two spouses requires a partnership return.
Identify strategies to eliminate late-filing penalties for partnership returns.
Compute bonus depreciation on partnership step-ups under §743.
Identify circumstances where a partnership can revoke a section 754 election.
Recognize how to determine how to answer Form 1065 questions on passive activity grouping.
Leader(s):
Leader Bios
George Koutelieris
George J. Koutelieris, CPA, MS-Tax, has practiced tax accounting for more than 24 years. He is the managing shareholder of the CPA firm Johnson & Shute, P.S. in Bellevue, Washington. George is a frequent lecturer for organizations providing professional education to other tax CPAs and has written and presented live courses and webinars for the last 10 years. Because of his understanding of tax law and ability to make it understandable, George is someone other CPAs turn to when they have difficult tax questions.
Greg White
Greg White, CPA, has practiced tax for more than 40 years. He is founder of the CPA firm WGN, P.S. in Seattle, Washington. Greg served as an Adjunct Professor at the Golden Gate University’s Seattle Campus over a 14-year period. He is licensed to practice in U.S. Tax Court and has argued cases before the Tax Court. He has been named a “Top 50” IRS Practitioner by CPA Magazine.
Non-Member Price $199.00
Member Price $149.00