21WA-4383: ACPEN Signature: 2021 Partnerships and LLCs Update (Webinar)
If you have questions about this event, please call us at 952-831-2707.
Wednesday, September 22, 2021
9:00am - 5:00pm Central Time
8 CPE (8 technical)
The taxation of LLCs and other entities taxed as partnerships continue to change. The IRS has complex new rules regarding reporting negative tax basis capital accounts and their rules have created confusion for practitioners between tax basis, tax basis capital accounts and 704(b) capital accounts. Treasury has issued new Regulations in a number of areas including the taxation of carried interests and withholding on foreign partners. The IRS Chief Counsel position on at risk in an LLC seems to have gained support in the Bordelon case.
Clients have ongoing issues in connection with the granting of interests to employees, and the reporting changes that necessitates as former employees become partners. The taxation of gain on sale of carried interests has been modified.
- 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 leighanne.conroy@acpen.com.
Major subjects
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NEW final Regulations on Carried Interests
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What are the differences between being a partner and an employee?
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NEW Withholding of Tax and Information Reporting with Respect to Interests in Partnerships Engaged in a U.S. Trade or Business
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A review of changes to Form 1065
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Update on Reporting Negative Tax Basis Capital Accounts
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An In-Depth Dive into Tax Basis versus Tax Basis Capital Accounts versus 704(b) Capital Accounts
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NEW case law on the application of basis and at-risk limitations in a single member LLC
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A review of the cancellation of debt rules as applied to partnerships and possible traps involving loans to partnerships
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Update on any legislative developments affecting entities taxed as partnerships
Learning objective(s)
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Stay up to date on changes under Subchapter K
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Address new IRS Form changes affecting partnerships
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Understand partnership tax basis capital account options
Who should take this program?
Public Practitioners, Industry CPAs, and EAs
Fees
Our records indicate
you are a
nonmember.
If you register, you will be charged
$225.00
(Standard Nonmember Fee).
Members: Please
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to receive member fee.
|
Standard Member Fee |
$225.00
|
 Standard Nonmember Fee |
$225.00
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