Federal and California tax developments affecting C and S corporations, partnerships, estates, trusts and exempt organizations are covered. Federal and California legislative updates and associated guidance from IRS and FTB are explained. Due diligence considerations relevant to recent developments are addressed to help with compliance and planning. Recent law changes and IRS guidance are covered. Course materials summarize each key development, and the e-Book provides links to the full text of source documents discussed during the program and additional developments. Materials include helpful charts and a table with links to all federal tax regulations and IRS rulings. Note : This is the companion course to Federal and California Tax Update for Individuals. Safety Measures Burlingame— CalCPA is following Order No. C19-12 of the Health Officer of San Mateo County for wearing face coverings in workplaces and public settings. This order requires all individuals to wear face coverings indoors in workplaces and public settings, with limited exemptions, regardless of vaccination status. Burbank (Los Angeles County)— CalCPA follows the guidance offered by the Los Angeles County Department of Public Health requiring the wearing of face coverings, regardless of vaccination status, in all indoor public settings, venues, gatherings, and public and private businesses in Los Angeles County. Orange County— CalCPA is following the Order by the Orange County Health Care Agency that requires face coverings for unvaccinated individuals in indoor public settings and businesses. Sacramento— CalCPA is following the Health Officer of the County of Sacramento Order, under the authority of California Health and Safety Code Sections 101040, 101085, 120175 and 120220, requiring the wearing of face coverings, regardless of vaccination status, over the mouth and nose in all indoor public settings, venues, gatherings and workplaces.
• Recognize and apply federal and California tax developments affecting corporations, partnerships, estates and trusts, and how these new provisions and interpretations impact planning and compliance for your clients.
• Identify the year’s significant regulations, IRS and FTB rulings, as well as other administrative guidance on business and estate tax matters. Describe the most important 2022 court cases addressing business entities.
• Identify planning and due diligence learned from recent developments.
• New law provisions and guidance and new tax forms affecting business entities, tax-exempts, and estates and trusts.
• Key cases and IRS and FTB guidance affecting partnerships, LLCs, C corporations, and S corporations
• Employment taxes and worker classification matters
• Accounting method developments
• Tax credits updates – Federal and California
• The state of California and multistate significant developments, including nexus and sourcing.
• Expiring provisions.
General taxation knowledge.
CPAs, financial professionals and attorneys.