Hood River STW Day 1 | Hood River , Special Topics
- Course Description
Course Title Topic #1 - Extension Season 2024: Addressing Open Issues, Administrative Updates, and New Legislation
This course introduces Tax Professionals to the issues which continue to exist during the 2024 Extension Season. The session will review continuing provisions which need to be addressed in order to complete returns resulting from Administrative processing issues inside he IRS as well as the complications experienced as a reality of the enactment of the Inflation Reduction Act of 2022. The specific areas will include the following:
- §30D New Clean Vehicle Credit and IRS Form 8936 Clean Vehicle Credits.
- Proper determination of a qualified vehicle and the preparation of Schedule A of Form 8936 Clean Vehicle Credit Amount will be discussed.
- Proper understanding of the 5 parts of Form 8936 and Schedule A of the Form 8936 which will address:
- Modified adjusted gross income amounts for the current and prior tax years.
- Credit for Business/ Investment use part of the new clean vehicles.
- Credit for Personal use part of new clean vehicles.
- §25E Credit for Previously Owned Clean Vehicles.
- §45W Credit for Qualified Commercial Clean Vehicles.
- §30D planning for 2024 and beyond for the transfer of the New Clean Vehicle Credit by the buyer to the dealer.
- §25E planning for 2024 and beyond for the transfer of the Previously Owned Clean Vehicle Credit by the buyer to the dealer
- Review of the instructions of the Form 8936 and Schedule A Form 8936 to properly implement the provisions of the Internal Revenue Code.
Course Title Topic #2 - Form 1099-K Reporting: Requirements, Confusions, Guidance, Compliance, or Lack Thereof
This course introduces Tax Professionals to the creation of Form 1099-K and the evolutionary changes that have taken place as a result of the American Rescue Plan Act of 2021. The session discusses the purpose of the original legislation and how taxpayers and third party settlement companies have had to attempt to be in compliance with a very narrow road for navigation.
The course will discuss the delay in implementation in 2022 and 2023 and the complication and challenges experienced in preparing and filing 2023 tax returns and beyond. The course will also address the new transition rules for the 2024 tax year.
The session will review the Form 1099-K, the instructions and the implementation of §6050W of the Internal Revenue Code. The course will walk through the steps needed to properly determine where and how Tax Professionals will report each separate transaction reported on Form 1099-K.
- Learning Objectives
At the conclusion of the session, the participants will have an improved knowledge of the specific provisions pertaining to:
- §30D New Clean Vehicle Credits,
- §25E Previously Owned Clean Vehicle Credits,
- §45W Qualified Commercial Clean Vehicle Credits,
- Properly preparing IRS Form 8936 and Schedule A to Form 8936.
The Tax Professional will be better equipped to advise their clients about the election to transfer the §30D and §25E credits to the dealer as well as the amount available and issues dealing with repayment for the advanced credits by the buyer on their filed Form 1040.
At the conclusion of the session, participants will have achieved a better working knowledge on how and where to report each transaction reported on a Form 1099-K received by any of their clients. The course help provide a guide as to where an item on a Form 1099-K should be reported as:
- Other income on Schedule 1 of the Form 1040,
- Schedule C Business Income
- Schedule D Capital Gain Transaction
- Schedule E Rental Income
- Schedule F Farm Income
- Some other reporting characterization, or as a non-applicable transaction.
At the close of the course, the participants will be better equipped to advise clients as to the character of the transactions and any impact on their federal income tax liability.
To receive the member price, first log into your member account. Your member discount will then be automatically applied. We can also take your registration by phone.
This varies by location and seminars. Please check your specific course schedule for more details.
Yes. Each attendee will need to make their own travel and hotel reservations.
Your registration confirmation will be emailed to you when your payment is processed. During our busy season, this can take up to 2-3 business days after we receive your registration.
Yes. If you have a PTIN on file with us, we will submit your hours. To insure we have your correct info, please provide your PTIN when you register for a course. Please notify us if you have recently submitted a name change request to the IRS.
Your certificate will be emailed to you within 10 business days of the completion of the course.
- Refunds or transfers to future education are allowed up to 7 days prior to the beginning of the course.
- A $25 administrative fee will be charged for all course changes.
- There are no partial refunds or discounts if a portion of the course is missed.
- Once the Course Materials PDF is emailed, refunds are no longer available for that course.
- Registrations must be received no later than 7 days prior to the beginning of the course.
- Registrations received after this date will be subject to a $35 late fee.
- A $25 administration fee will be charged for all course changes.
- An administrative charge of $25 will be assessed when any requested course changes are made.
- Live courses may not be retaken without additional payment.
- NSTP reserves the right to cancel any program or course for circumstances that are not under direct control of NSTP. If a course or program is cancelled, participants will be refunded 100% of their registration fee.
- We do not accept walk-in attendees. Payment must be received in advance of the class.
- Special Topics materials and Special Topics presentations are intended to stimulate thought and discussion and to provide attendees useful ideas and guidance in the areas of federal taxation and administration. These materials as well as the comments of the instructors do not constitute and should not be treated as tax advice regarding the use of any tax procedure, tax planning technique, device or suggestion, or any of the tax consequences associated with them.
- Although the NSTP has made every effort to ensure the accuracy of the materials and the seminar presentation, neither the author, the presenter nor the National Society of Tax Professionals assumes any responsibility for any individual’s reliance on the written or oral information presented during the presentation. Each attendee should verify independently all statements made in the materials, and during the seminar presentation, before applying them to a particular fact pattern and should determine independently the tax and other consequences of using any device, technique, or suggestion before recommending the same to a client or implementing the same on behalf of a client, or on the attendee’s own behalf.
- Special Topics materials & presentations are fully protected under copyright law. Any attempt to copy for resale, distribution, or use other than personal use for tax preparation will be fully prosecuted of the law.
- Only paid registrants can attend seminars. In consideration of your fellow attendees, guests will need to depart before the session begins.
- Executive/Charter Members will be charged a $150.00 administration fee if they fail to cancel a course registration and fail to appear for the seminar.