Tax Staff Essentials, Level 4 - Tax Manager/Director

Gain advanced technical training in tax essentials.

Give your managers and directors the tools they need to offer existing clients additional tax services with training designed to do the following:

• Improve and increase proficiency levels
• Elicit a higher level of customer satisfaction
• Potentially increase firm service fees

Level 4 contains the advanced technical level of training to allow your firm to expand its ability to offer professional services to new and existing clients.

Key areas covered include:

• IRS audits
• Advanced topics in partnership taxation and accounting for deferred taxes
• Individual and small business tax planning

Whether you wish to expand your firm by developing expertise in a niche or by business referrals from highly satisfied clients, TSE Level 4 is a must-have suite of CPE courses. An additional case study-based course has been added to the curriculum. This gives staff, seniors, and supervisors the opportunity to work through real-life, application-based scenarios in partnership returns.

Courses Included

• IRS Disputes: Identifying Options for Your Client
• Advanced Taxation Partnerships & LLCs
• International Taxation
• Advanced Income Tax Accounting
• Tax Planning for Small Businesses
• Individual Tax Planning
• Reviewing Partnership Returns

Who will benefit

• Tax managers and directors who have a background in taxation

Key Topics

• New individual income tax rates
• New corporate tax rates
• New pass-through income rules
• The qualified business income (QBI) deduction
• New rules for certain credits and deductions
• Advanced aspects of FASB ASC 740, including accounting for business combinations and other purchase transactions and stock compensation under FASB ASC 718
• Sale of an interest in a partnership or LLC
• Adjustments to basis of partnership/LLC assets
• Advanced distribution rules
• Allocation of income under IRC Section 704(b)
• Foreign branch and affiliates
• U.S. withholding taxes on foreign business
• Types of IRS audits
• Revenue adjustment report (RAR)
• Accounting for audit adjustments
• Individual tax planning
• Small business tax planning

Learning Outcomes

• Apply the complex rules of FASB ASC 740 (SFAS No. 109 and FIN 48) to new and challenging situations.
• Apply FASB ASC 740 to FASB ASC 805, Business Combinations, and FASB ASC 810, and noncontrolling interests in consolidated financial statements.
• Determine the applicable tax rate for complex situations.
• Determine the consequences of selling a partnership or LLC interest.
• Recognize how to make elections to protect partners and LLC members from unwelcome future consequences arising from current distributions, sales, and/or transfers of interests in the partnership.
• Identify how to calculate the basis of partnership or LLC following distributions of multiple properties.
• Differentiate how to comply with U.S. tax reporting requirements for inbound and outbound transactions and operations.
• Identify how income is sourced to a foreign jurisdiction.
• Determine when to challenge IRS requests.
• Recognize IRS audit techniques, inquiries, and appeal rights.
• Recognize how to manage the information document request process and evaluate the contents of a revenue agent report.
• Identify specific ways to reduce your individual and small business clients’ tax bills.