Tax Elections: Beware of the Minefield 2024

Overview

The Internal Revenue Code contains a vast number of elections available to taxpayers. Overlooking an election can result in adverse tax consequences to taxpayers and potential malpractice claims against their tax professionals. This survey course addresses the most critical tax elections that the CPA must know.

Highlights

• Tax elections for various entities
• Tax elections relevant for accounting matters
• Tax elections involving special items

Prerequisites

None

Designed For

CPAs, enrolled agents and tax preparers and tax personnel employed in the private sector.

Objectives

• To recognize critical tax elections available to various taxpayers: Individuals, business and non-profit entities and estates and trusts
• To understand the process of making elections
• Tools to avoid overlooking elections

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by the California Education Foundation (CalCPA). Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.