Course Description

Being a tax practitioner over the last few years has been tough! The tax landscape is constantly changing, and this shows no signs of slowing down. With the recent passage of the One Big Beautiful Bill Act (OBBBA), there’s even more for practitioners to keep up with. Now more than ever, you need more than just new code sections hurled your way—you need a reliable and practical way to stay on top of new legislation, IRS focus areas, and key developments affecting your clients.

In our Q4 Business Tax Quarterly Update, we’ll walk through major recent updates, including a detailed discussion of the OBBBA’s impact on your business clients, and address hard-to-navigate areas that continue to challenge practitioners, such as dealing with IRS notices and Circular 230 compliance. We will also review some of the rules around entity level taxes for S-Corporations.  Through discussion and easy-to-follow examples, you’ll be better prepared to answer tough client questions and stay current year-round. Not just during tax season! 

Learning Objectives

  • State the major provisions of the OBBBA related to businesses

  • Recognize tax and reporting implications of partnership property distributions

  • Identify entity level taxes and compensation issues related to S-Corporations

  • Identify common IRS notices and key provisions in the taxpayer bill of rights

Additional Required Materials

  • Level: Update

  • Field of Study: Taxes (NASBA); Tax Planning (CFP); Federal Tax Update (IRS)

  • Who Should Attend: Experienced tax professionals and financial advisors

  • Required Knowledge: Previous tax preparation experience preparing business tax returns

  • Advanced Prep: None

Recording consent

This live session will be recorded for the purpose of creating self-study and rebroadcast versions of the content. Customer participation, including questions and comments, will not be included in the final product. Any customer-identifiable information will be edited out to protect your privacy. By attending the session, you consent to the recording process under these conditions. 

Instructor

CPA, CPCU, MST, MBA David Peters

David Peters is the Founder and Owner of Peters Tax Preparation & Consulting in Richmond, VA. He has over fourteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for over three years. He is a national CPE Instructor/Discussion Leader for the AICPA, Surgent, and Kaplan. He regularly teaches courses in accounting, finance, insurance, and ethics throughout the United States. He holds four Masters degrees and contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the 2018 Virginia CPA Ethics course – a required course for all CPA’s licensed in the Commonwealth of Virginia.