Tax is a subject that outlasts a single season. Its continual evolution brings about new questions for us as practitioners, clients and citizens. The IRS brings you the latest developments:

• Assess how changes brought on by the Inflation Reduction Act are affecting the agency.
• Evaluate tax impacts of recent / upcoming legislation including flow-through entity & HB 4001. 
• Construct a written information security plan to safeguard client data.

Back by popular demand - Representatives from the Taxpayer Advocate Service (TAS) will have three caseworkers onsite at the conference to meet with practitioners and discuss taxpayer problems again this year (limit one case per tax professional). TAS is an independent organization within the Internal Revenue Service that helps taxpayers and protects taxpayer rights. They help taxpayers whose problems with the IRS are causing financial difficulties, who’ve tried but haven’t been able to resolve their problems with the IRS or believe an IRS system or procedure isn’t working as it should. And their service is free!

Program Agenda

8:00 AM – 8:05 AM
Welcome and Opening Remarks

8:05 AM – 8:55 AM
KEYNOTE PRESENTATION - Your Gateway to the IRS… (CNTW1-U-00414-23-I) (CFP credit)
The end of 2022 brought big news to the IRS, with $80 billion in funding assigned to the agency under the Inflation Reduction Act (IRA). Find out how agency is implementing the IRA including how its Taxpayer Experience Strategy seeks to align online and operational services with evolving taxpayer and tax servicer needs in the years ahead.
Derek Ganter – Director of Stakeholder Liaison, Internal Revenue Service

9:05 AM – 9:55 AM
Appreciating the Deductions of Rental Property Depreciation (CNTW1-U-00415-23-I) (CFP credit)
Clients that own rental property stand to save money at tax time by utilizing key write-offs and depreciation. Review the components of depreciation, including its claim criteria, how to determine annual depreciation amounts and more.
Marilyn J. Meredith, EA – Owner, Meredith Tax Service, Port Huron

10:05 AM – 10:55 AM
Tips for Integrating IRS Tools Into Client Experience (CNTW1-U-00416-23-I)
The IRS is embracing technology and making it easier for tax service providers to save time and streamline document submissions. Join the agency for an overview on some of the things your practice can do with the IRS’ online tools, including individual accounts, Tax Pro accounts, online payment options, document upload tool and more.
Nichelle Gray – Tax Specialist, Stakeholder Liaison, Internal Revenue Services, Cleveland, OH

11:05 AM – 11:55 AM
Go with the Flow-Through Entity Tax & Legislative Updates (CFP credit)
From flow-through entity tax updates to HB 4001, we discuss recent individual income tax and retirement state tax changes and troubleshoot challenges associated with flow-through entities. Plus, receive insight from Treasury while hearing about other pending legislation and upcoming guidance.
David Foos, CPA, JD – Administrative Law Specialist, State of Michigan Department of Treasury, Lansing
Heather Griffis – Auditor Manager, State of Michigan Department of Treasury, Lansing

11:55 AM – 12:40 PM
Group Lunch

12:40 PM – 1:30 PM
Do You Expect a 1099-K for That? (CNTW1-U-00417-23-I) (CFP credit)
The new reporting threshold for issuance of Form 1099-k took the tax world by storm prior to its implementation postponement. CPAs and their clients should still expect implementation to proceed despite the evolving nature surrounding the issue. Learn who will be impacted by the new, lower reporting threshold and how to advise clients receiving a 1099-k for the first time.
Marianne Couch, Esq. – Owner, COKALA Tax Information Reporting Solutions LLC, Ann Arbor

1:40 PM – 2:30 PM
Safeguarding Client Data Begins at Your Office (CNTW1-U-00418-23-I) (CFP credit)
Last year, Forbes reported that small businesses are three times more likely to be a target of cybercrime than their larger counterparts. Discover what it takes to secure client data by getting familiar with the signs of a data breach, the process of reporting potential breaches to the IRS, and why it’s important to have a written information security plan (WISP).
LaTanya Bacon – Tax Specialist, Stakeholder Liaison, Internal Revenue Services, Cleveland, OH

2:40 PM – 3:30 PM
SECURE Deposit: Everything You Need to Know About 2.0 (CNTW1-U-00419-23-I) (CFP credit)
While some changes included in the recently passed SECURE Act 2.0 took effect at the start of 2023, more are quickly approaching on Jan. 1, 2024. From automatic enrollment, Requirement Minimum Distribution escalation, to administrative cost credits and the “Rothification” of retirement plan contributions. Explore the myriad ways in which SECURE 2.0 will change the way many save for retirement and how CPAs can advise their clients.
Lou Melone, CFP – Managing Partner, Melone Private Wealth, Auburn Hills

3:40 PM – 4:30 PM
That’s Final: Form K-2 & K3 Partnership Overview (CNTW1-U-00420-23-I) (CFP credit)
Forms K-2 and K-3 report items of international tax relevance from the operation of a partnership or S-Corporation. Flow-through entities that have items relevant to the determination of the U.S. tax obligations of their owners related to international provisions of the Internal Revenue Code must complete the relevant parts of Schedules K-2 and K-3. The IRS finalized partnership instructions for Schedules K-2 and K-3 at the end of 2022, making them more specific and rigorous than previous iterations. Refine your understanding of both schedules, including the 2022 Domestic Filing Exception requirements, changes to penalty relief and more.
Alexander M. August, CPA – Principal-Tax, Rehman, Troy
Kyndle Worlfinger, CPA, CMA, MSA – Manager Advisory & Tax, Jackson

4:30 PM
Program Adjourns