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Federal Disaster Tax Law Update

Wednesday, 30 January 2019  10:00 AM PST, 01:00 PM EST

Training Duration = 120 min                  Sponsored by Online Compliance Panel

Click Here to register $200.00

Click Here to register and receive CD recording $400.00

This webinar will review disaster tax law, with an emphasis on important recent changes in tax law and IRS regulations.

Federal disaster tax law is not new, but recent 2017 & 2018 disasters coupled with tax reform (Tax Cuts & Jobs Act) have resulted in important changes for tax practitioner awareness.

Learning Objectives:

This session will help tax practitioners to:

  • Catch up on the long-standing disaster tax law
  • Accurately complete tax returns reporting disaster losses
  • Calculate disaster gains or losses
  • Confidently move gains and losses to tax forms
  • Understand special replacement periods
  • Learn how to handle residences that will be rebuilt/not rebuilt

Why Should You Attend:

From severe floods, landslides, and winter storms to hurricanes, and wildfires, the U.S. saw numerous federal disaster declarations in 2017 and 2018. That means more clients will likely be coming to you with questions about how to account for the impact of disasters on their tax returns. The answer is less straightforward than you think given recent tax reform (the Tax Cuts & Jobs Act of 2017)-even for seasoned tax practitioners.

Get an update on the latest rules-and how to earn clients the most favorable tax treatment from Certified Financial Planner Vicki L. Mulak, EA, CFP. In this presentation, she will strengthen your understanding of the disaster tax law, offer practical explanations to complex gains/loss rules, and show you how to help distressed taxpayers take full advantage of the tax relief due to them.

This session will increase your confidence and competency as a tax practitioner filing returns for taxpayers in federal-disaster-declaration areas. After attending this webinar, you will be able to accurately complete tax returns reporting disaster impacts, calculate disaster gains or losses, understand special replacement periods, and more.

This training program will assist tax practitioners filing returns for taxpayers in areas that received federal disaster declarations by providing the necessary training to accurately complete these tax returns and assist these distressed taxpayers.

Areas Covered

  • A review of long-standing disaster tax law
  • An update to calculation of disaster losses as promulgated by recent IRS revenue procedures
  • An update to the treatment of disaster losses and disaster gains as impacted by tax reform (Tax Cuts and Jobs Act)
  • Increase competency in moving gains and losses to tax forms
  • Understand the special replacement periods for taxpayers in disaster-declaration areas
  • How to handle residences that will be rebuilt vs. residences that won't

Instructor

Vicki L Mulak is an Enrolled Agent and Certified Financial Planner (CFP) and owner of American Financial and Tax, a tax preparation, planning and representation firm, which was founded in Tustin, California in 1985, when Vicki became both a resident and a business owner.

Vicki is a well-known presenter on federal and California tax law with audiences at continuing education events hosted by various practitioner organizations. She is also an author of numerous articles that have appeared in various practitioner journals.

In addition to her private practice, Vicki has served on two of the three California state tax agency advisory boards: The California Franchise Tax Board Advisory Board since 2010 - 2017 and the Employment Development Department's Small Business Employer's Advisory Committee since 1997.

She has been honored with numerous awards for distinguished service in legislative advocacy and educational goals from the Enrolled Agent Associations, NAEA and CSEA.

She resides with her husband, George, in Tustin.