UC tax conference pivots to virtual event

Accounting and tax professionals to benefit from four days of continuing education

The 2021 tax season may seem a ways off for many, but practicing accountants and tax professionals are gearing up for it now. The 53rd Annual Income Tax Conference, hosted by the University of Cincinnati Carl H. Lindner College of Business Accounting Department, will offer its program virtually December 7-10, 2020, from 12-4 p.m. EST daily.

“The UC Income Tax Conference is Cincinnati’s go-to source for continuing education and tax season tune-ups for CPAs, lawyers and tax professionals,” Margaret Reed said.

inside of a studio which is dark enclosed room with green screen hanging from ceiling and various lighting and camera equipment pointed at the green sheet

The studio inside Carl H. Lindner Hall

The virtual conference will be filmed and produced in Lindner’s very own recording studio in Carl H. Lindner Hall. Attendees have opportunities to gain 16 CPE or CE credits, 14 CLE credits, the opportunity to take the optional exam for eight Ohio CPE hours and a comprehensive tax guide book with all relevant updates for this year’s tax season.

“We are confident that our attendees will see great benefits from the virtual seminar, which will showcase many of the speakers they are accustomed to seeing at our live event,” Reed said. “While we will miss the in-person catch-up over coffee and doughnuts, the virtual event will meet everyone’s professional needs.”

Those interested in attending can register on the UC Income Tax Conference website. For more information, contact uctaxconference@uc.edu or call 513-556-7056. Expand below to view all topics and presenters.

Topics

Qualified Business Income (QBI) Deduction

We cover all the provisions related to the QBI deduction for specified and non-specified business, including the W-2 wage and capital limits. Also covered are the rules for aggregation of businesses, QBI losses and pass-through entities.

New and Expiring Legislation

We provide comprehensive coverage of the tax provisions in the Families First Coronavirus Response Act and the Coronavirus Aid, Relief and Economic Security (CARES) Act.

Rulings and Cases

We cover summaries of selected rulings and cases issued from September 2019 through August 2020, providing an update on issues addressed by Treasury and the courts.

Business Issues

We cover issues business owners face, such as tax issues associated with multi-level marketing businesses, opportunity zones and bonus depreciation.

Financial Distress

We cover a myriad of topics related to financial distress, including the tax consequences of foreclosures, repossessions and abandonments. We also cover issues related to cancellation of debt and its exclusion from income. Finally, all aspects of business and nonbusiness bad debt are reviewed.

S Corporation Tax Issues

We cover important tax issues related to choice of entity and S Elections. We also focus on IRS compliance campaigns related to distributions, the built-in gains tax and loss limitations. Also covered are basis calculations and reporting requirements.

Investment and Retirement Issues

We cover required minimum distributions and the changes to RMDs. We also cover IRA beneficiary designations, testamentary charitable remainder trusts, qualified charitable distributions and taxation of common investments, like certificates of deposit and savings bonds.

Individual Issues

We cover a selection of individual tax issues, including deductions for health insurance and other health expenses, casualty gains and losses, education expense tax issues and individual tax credits.

Business Entity Issues

We cover important reporting rules for partnerships and non-profit entities. We discuss exemption, reporting and tax issues for social clubs and fraternities. We also cover new rules, regulations and filing requirements for non-profit entities.

Trust and Estate Issues

We cover estate planning to preserve the increased exemption amount prior to its expiration in 2025. Also covered are gift tax return rules and the income tax reporting requirements of different types of trusts.

IRS Issues

We cover key issues for practitioners, including topics related to cybersecurity, virtual currency, IRS withholding estimator, taxation of the gig economy and IRS information sources.

Ethics

General discussion of ethical examples, including best practices for referrals of clients, whistleblower programs, the use of online services with client information and due diligence requirements for a variety of tax practice areas. (Does not meet Ohio Ethics Requirement for CPA licensure).

ACA Update

General discussion of ACA compliance and new developments.

Presenters

  • Alan Bieber, CPA Barnes, Dennig & Co. Ltd
  • Jody Brant, LLM Katz, Teller, Brant & Hild, LPA, Eric Brown, CPA Newsome & Company Ltd.
  • Christopher D. Freeman, LLM, Katz, Teller, Brant & Hild, LPA
  • Javan A. Kline, JD, LLM Graydon Head & Ritchey LLP, John Linstead Internal Revenue Service
  • Eli Liske, CPA, Wirth Lowe Wissemeier CPAs, Inc.
  • Margaret Reed, PhD, CPA, CMA , University of Cincinnati
  • Howard Richshafer, JD, CPA, Wood & Lamping, LLP
  • Kim Wilcoxon, JD, Thompson Hine

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