ACPEN Signature 2024: Partnership & LLCs Tax Return Preparation

Overview

LLCs and partnerships continue to present some of the greatest challenges for return preparers and advisors. This program will address the latest developments:

New IRS audit initiatives
An SE tax update for LLCs and partnerships
Disregarded entity rules and transactions
Common allocation problems
Identifying various types of partnership debt properly for basis purposes
The 754 election in the sale of interests and at death
Reporting LLC and partnership interests on gift and estate tax returns and valuation of closely held businesses and minority interests

**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Highlights

IRS audits
Allocations and Basis
Proper reporting
Valuation of closely held business interests

Prerequisites

None

Designed For

Industry and Public Accountants

Objectives

Learn about new IRS audit initiative
Learn to avoid allocation and basis calculation errors
Identify disregarded entities for income tax purposes and how those are treated differently under other taxes
Learn how partnerships and LLCs are addressed in estate and gift tax reporting rules