TCJA and CPAR Impact on Partnerships and Partners Webcast | 4193803F

Date :
November 11, 2019 8:30 AM - 12:00 PM
Location :
Webcast
Facility :
Webcast Rebroadcast
Level of Difficulty :
Intermediate
Member Price :
150.00
Nonmember Price :
201.00
CPE Credits :
CPE 4.00, MCLE 3.00, IRS-TX 4.00, CTEC-TX 4.00
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Learn the impact of recent Tax Cuts and Jobs Act (TCJA) guidance on partnerships and partners as well as compliance and strategies relating to the Centralized Partnership Audit Rules (CPARs). Because Gary McBride is thoroughly covering § 163(j) and 199A in separate CalCPA courses, coverage of those topics will be very limited in this course.

Objectives:

  • The new carried interest rules for certain partners.
  • Bonus depreciation with respect to section 743(b) adjustments.
  • Increased section 199A UBIA on “excess section 743(b) adjustments”.
  • Prop. regs. on partnership withholding and reporting for dispositions by foreign partners.
  • Key points in the recent final regs. on the centralized partnership audit regime (CPAR)
  • New IRS Form 8988 and the "push out" election.
  • Elimination of deemed partnership terminations.
  • Partnership reporting obligations with respect to §§163(j) and 199A.

Major Subjects:

  • The new carried interest rules for partners.
  • The prop. regs. covering new partnership withholding and reporting for dispositions by foreign partners.
  • Increased significance of section 743(b) adjustments.
  • The final regulations on the mandatory centralized partnership audit rules (CPARs).
  • The "push out" election on new IRS Form 8988.
  • Considerations in designating a partnership representative.
  • Partnership reporting obligations with respect to §§163(j) and 199A.

Advanced Prep:

None.

Misc. Information:

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Level of Difficulty:
Intermediate
Field of Interest:
Taxes
Prerequisites:

General knowledge in partnership taxation.

Designed For:

Attorneys and CPAs.

Instructors

Gary R. McBride, CPA, Esq.

Gary McBride is a principal in Summit Accountancy Group, Inc.; a professor emeritus at California State University, East Bay; and former director of the Graduate Tax Program. He is a licensed attorney and certified public accountant. He worked for the Internal Revenue Service as a revenue agent, special agent, and technical advisor at the IRS National Office. He is author and presenter of four CPE courses for the CalCPA Education Foundation: Federal and California Tax Update for Individuals (with professor Annette Nellen); Federal and California Tax Update for Businesses and Estates (with professor Annette Nellen); Partnerships and LLCs Part I: Formation, Operation, and Allocations; and Federal Taxation of Partnerships and LLCs Part II: Sales, Distributions, Redemptions, and Liquidations. McBride earned his master of laws in taxation degree in 1987 from Georgetown University; his juris doctor degree in 1981 from Hastings College of Law, and his bachelor’s degree (emphasizing accounting and finance) in 1975 from the University of California, Berkeley.

No Agenda or Materials posted.