Event Detail

Tax Provisions of Biden's $3.5 Trillion Reconciliation Bill

Description:

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To register, please call RISCPA at 401-331-5720 or email riscpamembers@riscpa.org

This is a 2-hour live video conference (2 CPE credits) led by Lucien P. Gauthier, Esq., LL.M., CPA, who has been a practicing tax attorney for over 50 years and Lawrence C. Starr, FLMI, CLU, CEBS, ChFC, CPC, EA, ATA, QPFC, MBA. an author of the AICPA text ‘The CPA’s Guide to Retirement Plans for Small Businesses’ and frequent national lecturer.  

On Wednesday 09/15/21, the House Ways and Means Committee released draft legislation and an 18 page section-by-section summary of the 2.1T proposed tax legislation.  The bill has 5 major parts: 1. Corporate and International Tax Reforms including an increase in corporate tax rates, 2. Tax Increases for High-Income Individuals including increases in top marginal individual income tax rates and capital gains rate, 3. Modification of Rules Relating to Retirement Plans including the closure of “back door IRAs: 4. Funding the Internal Revenue Service and Improving Taxpayer Compliance, and 5. Other Provisions including a temporary rule to allow certain S corporations to reorganize as partnerships without tax.  With the exception of the international tax provisions which are an island unto themselves and must await future enlightenment by our foreign tax guru Kenneth J. Vacovec, Esq., LL.M., we will walk through the 18 page summary with commentary to help you become conversant with the salient provisions of the bill that are relevant to successful closely-held businesses and individuals and discuss some tax planning ideas that may be worth considering between now and the end of the year.  Please join us on 09/24 (Friday) from 10:00am-12:15pm,for a first look at this extensive new draft tax legislation.  As always, questions before, during, and after the presentation are expected and encouraged!

Live Video Conference: September 24th,  10am-12:15pm ET

Highlights:

Taxes

Objectives:

After completing this program, participants will be better able to prepare new Schedules K-2 and K-3 for Forms 1065, 1120-S and 8865 in 2021.

Prerequisites:

Download the House Ways & Means Committee's 18 page Summary of the $3.5 Trillion Reconciliation Bill

Notes:

Boston Tax Institute, Ltd. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org We will be asking polling questions during the conference to verify participation for those needing NASBA certification.

Designed For:

CPA, EA, Attorney, CFP, or other practitioners with 2 or more years of work experience and some familiarity with the subject matter

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