The NYU School of Professional Studies Institute on Federal Taxation is designed for the practitioner who must frequently anticipate and handle federal tax matters. It provides high-level updates, practical advice you can implement, and in-depth analysis of the latest trends and developments from leading experts.
Participants return to work with a wealth of materials, plus the tools and strategies needed to help save their clients’ tax dollars and provide them with better service. The six-day program encompasses all major areas of tax, including current developments; tax controversies; corporate tax; partnerships, LLCs, and real estate; trusts and estates; executive compensation and employee benefits; closely-held businesses; international tax; ethical transactions; and hot tax topics.
How Far Can You Go? Ethical and Penalty Issues in Everyday Tax Practice
The number of accuracy-related penalties assessed against individual taxpayers increased from 58,366 in 2005 to 553,184 in 2015. That is nearly a 1,000% increase over the past decade! Are there more bad taxpayers? Or, is the IRS just getting more aggressive about asserting penalties? Regardless of the answer, responsible tax practitioners must understand what triggers a penalty assessment and how to protect their clients and themselves against such assessments. How sure do you have to be before you can tell a client it is okay to take a deduction, exclude income or characterize income as capital gain? Can you accept what a taxpayer tells you, or do you have to audit a taxpayer’s records? When can the taxpayer be subject to penalties? And, when can you as the advisor be subject to penalties? This panel of expert practitioners addressed these and other thorny ethical and penalty issues that arise in everyday tax practice through the use of hypothetical examples.
Please note that Mr. Skarlatos will also be presenting the same seminar on November 16, 2017 from 5:15pm - 6:55pm at the Fairmont Hotel, 950 Mason St, San Francisco, CA 94108