The CARES Act reinstated carry backs of NOLs, but before we can understand how an NOL is used we need to understand how it is created, so we’ll start at the beginning and work the problem all the way through to your client putting money in the bank.
· Explore whether your software is calculating the NOL correctly
· Understand what assumptions your software makes
· Determine what simple entries you are overlooking that will help assure these calculations are done correctly
· Learn which elections to make to decrease your clients’ taxes!
· Become comfortable with Form 1045, so your client can get their refund quicker
· Find out why using your 1040X software may be causing big mistakes in your NOL carryforward calculations
· Worksheets and checklists to lead you through the calculations step-by-step
· Review of the necessary forms line-by-line
· Preparation tips that will allow you to complete NOL returns in a fraction of the time
· 2-hour recording and a detailed, fully-cited, illustrated text
· 3 CPE credits
This 3-CPE credit recorded seminar will cover all this and more.
Lisa Ihm, EA has been teaching seminars nationwide since 1986. Lisa's methodical approach helps you understand even the most complex tax laws. Rather than simply reciting the rules, she digs below the surface to make you think about how tax laws affect your clients and how you can use those laws to your clients’ benefits.
Brass Tax is happy to announce the addition of Ryan Reichert, EA to our staff. Ryan’s background in tax preparation, business, financial planning, and tax research makes him especially equipped to tackle the interpretation of new tax legislation. His step-by-step, detailed approach helps tax preparers understand the application of unfamiliar and often complex new tax laws. Ryan can be reached by e-mail at Ryan@BrassTax.com.
This seminar has been designed to meet the requirements for 3 Federal Tax Law Update continuing education hour for EAs, CRTPs, and CPAs. We have entered into an agreement with the Office of the Director of Practice, 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 Director of Practice as to the quality of the program or its contribution to the professional competence of the enrolled individual.
IRS UD2VU-U-00095-20-S self-study
This seminar has been designed to meet the requirements for 3 hours of Federal Tax Law Update for the California Tax Education Council. This does not constitute endorsement by the CTEC as to the quality of the course or its contribution to the professional competence of the preparer.
For more information regarding administrative policies such as complaints or refunds, contact Brass Tax at (858) 487-2553. Course level: Intermediate. Prerequisites: None.
CTEC 1008-CE-1123 self-study