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PROGRAM CONTENT

This course provides continuing education to enhance understanding of client representation, divorced taxpayers, and stock options. Subject matter includes determining what is practice and who can practice before the IRS, conditions required to represent a taxpayer, IRS audit selection methods, claiming a child in divorce situations, retirement benefits paid under a QDRO, conflicts of interest in divorce situations, statutory and nonstatutory stock options, incentive stock options, employee stock purchase plans, and the inclusion deferral election of qualified equity grant.

CPE CREDIT HOURS

3 Credit Hours. One 50-minute period equals one CPE Credit Hour.

LEARNING OBJECTIVES

• Clients Representation
  • 1-A Determine what is considered practice before the IRS.
  • 1-B Identify who can practice before the IRS.
  • 1-C Distinguish the conditions required for an individual to represent a taxpayer.
  • 1-D Recognize reasons why the IRS would send a notice or letter to a taxpayer.
  • 1-E Determine methods the IRS uses for audit selection.
• Divorced Taxpayers
  • 2-A Determine filing status options for divorced taxpayers.
  • 2-B Determine which parent qualifies to claim a child in divorce situations.
  • 2-C Determine whether payments made by divorced or separated taxpayers qualify as alimony.
  • 2-D Recognize the tax consequences of retirement benefits paid under a qualified domestic relations order (QDRO).
  • 2-E Identify conflicts of interest and how to handle them in divorce situations.
• Stock Options
  • 3-A Differentiate between statutory and nonstatutory stock options.
  • 3-B Recognize the restrictions on an incentive stock option (ISO).
  • 3-C Identify the holding period requirements for an employee stock purchase plan (ESPP).
  • 3-D Recognize the requirements for the inclusion deferral election of a qualified equity grant.
  • 3-E Determine the type of income generated by the sale of a nonstatutory stock options (NSO).

RECOMMENDED PARTICIPANTS

Tax professionals who prepare individual income tax returns are encouraged to participate in this course.

PROGRAM LEVEL

Overview. This course provides a general overview of the subject area from a broad perspective. It is appropriate for tax professionals at all organization levels.

*All CE hours issued by The Tax Book