8.0 Credits

Examine current year developments, recurring problems and planning ideas using a combination of humor and examples. Focus on tax developments that affect 2020 individual income tax return preparation and planning. As time permits, review significant areas of individual income taxation to fine-tune practitioners for tax season. 

Course materials include a 600+ page reference manual containing a discussion of most major areas of individual income taxation, where applicable, a segment in each chapter of relevant changes and latest developments under TCJA, a checklist of expiring individual tax provisions and a checklist of individual tax developments first effective in 2020.


This course is designed to:

  • Provide explanations and planning ideas relating to the latest 2020 tax developments impacting individuals, including the most recent guidance on provisions of the Tax Cuts and Jobs Act (TCJA), the SECURE Act, and the Taxpayer First Act
  • Help practitioners prepare for "tax season"
  • Review and update various tax law provisions and planning ideas affecting individuals


Major Topics

Review of individual income taxation, including:

  • Key provisions and developments of TCJA, such as the child tax credit; new family tax credit; excess business loss limitation for individuals; changes in tax benefits related to education; miscellaneous itemized deductions; home mortgage interest; state and local taxes; repeal of alimony deduction; and 20% §199A deduction.
  • Provisions of the SECURE Act including new IRA and qualified plan contribution and distribution provisions; new kiddie tax rules; modifications to 529 plans
  • Provisions of the Taxpayer First Act affecting individuals  
  • Planning ideas, including planning with new tax legislation
  • Important 2020 regulations, court cases, rulings and other non-legislative developments
  • Affordable Care Act developments including the recapture of advance premium tax credits
  • Net investment income tax provisions
  • Forgiveness of indebtedness exclusion provisions
  • Review of home mortgage interest, investment interest and business interest rules
  • Section 1031 "Like-Kind" Exchanges
  • Planning with the §121 gain exclusion for a principal residence
  • Review of the home office and hobby loss rules
  • Review of individual tax credits
  • Charitable contributions (Including treatment as a §162 Trade or Business Expense)
  • Passive Activity developments (Including developments for qualified real estate professionals)




At least one "Tax Season."

Advanced Preparation

Detailed knowledge of individual income tax returns or who are involved in individual income tax planning.


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Tuesday, December 8, 2020

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