Disclosure? Don’t File an Uncertain Tax Return Without It – 2019 Tax Season Chaos

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Disclosure? Don’t File an Uncertain Tax Return Without It – 2019 Tax Season Chaos

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With the plethora of Tax Cuts Jobs Act (TCJA) unanswered questions coming at us like a pack of defensive linemen, this tax season is (or at least seems to be) out of control. Approaches by tax software companies are “all over the board” moving targets. Clients want their tax returns now. If IRS scrutinizes a return (years later), they’ll have the benefit of hindsight. Much of the law is messy, messy, messy, messy.

 What is a tax preparer to do? One approach is to disclose uncertainties (re: §199A or any other messy area) to IRS on tax returns now. Yes, that’s right. Kiss and tell. Tell the adversary what you’re up to. All for the sake of seeing your client and you through to a better day.

**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 [email protected]

Basic Course Information

Learning Objectives

  • To learn how to scout out tax positions needing disclosure, keep a good tax file, involve client in approach and disclose uncertain tax positions on federal tax returns

Major Subjects

  • How does claiming §199A put the whole tax return in peril?
  • How the accuracy and preparer penalties for TCJA is a “tough go” early on
  • When disclosure may help (and, when it may not)
  • If disclose, specifically how? Is Form 8275 necessary, or does white paper cut it?
  • But, doesn’t disclosure get you audited?
  • What does age-old Form 8082 (Notice of Inconsistent Position) have to do with all of this anyway?

Bradley Burnett practices tax law in Colorado. After undergraduate (Business Administration/Accounting) school and law (J.D.) school, he earned a Master of Laws in Taxation (LL.M.) from the University of Denver School of Law Graduate Tax Program. After stints at national and local accounting firms and a medium sized Denver law firm, he established his own law firm in 1990, He has delivered more than 3,300 presentations on tax law to CPAs, attorneys, EAs and others throughout all fifty U.S. states, Washington, D.C. and seven countries. Bradley served four years as adjunct professor at the University of Denver School of Law Graduate Tax Program, where he pioneered an employment tax course and occasionally pinch-hit in the IRS practice and procedure field. He authors and teaches tax materials for Commerce Clearing House (CCH), has received the Illinois Society of CPAs Instructor Excellence Award and five times has been the most requested, top-rated presenter at annual state CPA tax institutes. His seminar style is briskly paced delivery of practical insights with humor.

 

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Disclosure? Don’t File an Uncertain Tax Return Without It – 2019 Tax Season Chaos

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