E-News New York Chapter of NATP Monthly Newsletter

Transcription

1 Upcoming Events NATP National Conference Anaheim CA, Anaheim Marriott August 6-9, 2018 See Pg 2 for NY Chapter Meet & Greet NATP Tax Forums Atlantic City NJ, Harrah s September 20-21, 2018 Las Vegas NV, Planet Hollywood September 25-26, 2018 Indianapolis IN, Crowne Plaza Downtown October 17-18, 2018 The NY Chapter Summer Series The Summer of Tax Reform! Day One: NATP New York Chapter Individuals and Trusts Day Two: NATP New York Chapter Tax Reform for Small Businesses See Page 2 for in depth details on topics, locations E-News New York Chapter of NATP Monthly Newsletter June 2018 IRS Nationwide Tax Forums! The IRS has released the list of locations for the IRS Tax Forums. It can be found here: Don t Forg_t: NATP offers a $10 Discount off the Early Bird rate on IRS forums! Use Code: $2018NATP$ when you register New York State Chapter of NATP PO Box 3140 Binghamton, NY Phone Fax; NewYorkNATP.com This Month s Issue NY Chapter Meet & Greet at Conference News from the State Tax Dept Want to Join the NY Chapter Board? Summer Series Topics & Dates Tax Season Issues Consider Tax Court Contributors: Kathryn M. Keane, EA Chris Bertuglia, EA Dan Paoletti, EA Matthew Hall, CPA Roman Bellusci, CPA

2 NY Chapter Meet & Greet! 2018 NATP National Conference & Expo Chris Bertuglia, EA Every year NATP hosts a 4-day National Conference where you can choose from various courses and earn up to 28 CPE. Attending the National Conference is a great way to learn from the high-quality courses given as well as network with other professionals. Throughout the conference, you can visit the expo hall where there are numerous vendors who will be giving out information on items from professional software to office supplies. The NY Chapter will be hosting its annual meet and greet right after the charity event on Tuesday August 7 th. The NY Chapter s Board of Directors would like to show our appreciation to all NY members. Join us for a drink and some appetizers! It will be a great way for us to meet you and for you to meet other NY members! Be sure to look out for our flyers when you get to the conference. We will be posting our location for the meet and greet. Want to join the NY Chapter Board? By Matt Hall, CPA At our Annual meeting this Fall we will have elections for chapter board members. We need volunteers to help run the chapter and keep providing the education that we all need to keep current. If you are interested in joining the board or want more information, please contact President Ed Arcara at (716) News from the State Tax Department By Dan Paoletti, EA Summary of Personal Income Tax Changes Enacted in the Budget Bill Here are some of the more common provisions: Definition clarified for resident individual for NYS income tax purposes Empire State Child Tax Credit will follow 2017 federal amount and limitations Statute of Limitations has been extended on amended return assessments Wage reporting requirements on NYS-45 will not be required for all quarters The complete Budget Bill can be reviewed at Additional Budget Changes Keep a lookout for future guidance on these and other key issues: Contributions to charitable gift fund accounts (including New York City decouple) and New York State credit Decoupling from Internal Revenue Code changes Employer Compensation Expense Program Low-income housing credit Enhanced Installment Payment Agreement Application The web application is now easier than ever to use for you or your clients: Set up automatic payments Change the monthly payment date Update bank information Print a certificate of good standing Online IPA s can be requested for balances of $20,000 or less and with 36 or fewer monthly payments Complete information available at Pay a bill or notice online Use an Online Services account to pay a bill or notice directly from a bank account for free, or pay with a credit or debit card for a fee. Use Quick Pay (for individuals only) to pay directly from a bank account for free. (No Online Services account needed.) Respond to a request for additional information If your client received a letter from the tax department asking for documentation to support what they claimed on their return, it doesn't mean that they did anything wrong. It's just an extra step to ensure refunds go out to only those who are entitled to them. To submit a response or for additional information, visit Disagree with a bill or notice online If your client receives a bill for personal income tax and they disagree, you or your client can use the respond to department notice online application and select I received a bill. It's the fastest way to communicate with the Tax Department regarding a bill. To submit a response or for additional information, visit

3 Individuals and Trusts (8CE) 8:00 am - 5:00 pm Tax Reform changed the face of the tax world. This hands-on seminar looks at how tax reform impacts the 1040 as well as presenting an overview of Trusts. The session will cover the changes to Schedule A, the expanded Child Tax Credit, new Family Tax Credit, changes to 529 and the how the world turned upside down. At the end of this session, attendees will be able to: Recognize the new Standard Deductions and Tax Rates Distinguish between Qualified Child and Qualified Relative Calculate the 2018 federal state and local tax deduction. Discuss the impact of items no longer deductible on the Schedule A Calculate the new Kiddie Tax Determine the expanded Child Tax Credit Understand the new Family Tax Credit Advise clients on the expanded uses of 529 funds, including rollover to ABLE Understand why clients form Trust Recognize the different types of Trusts utilized by clients Determine when a Trust tax return is due Summer Series Dates/Locations Tax Reform for Small Businesses (8CE) 8:00 am - 5:00 pm Tax Reform for Small Businesses Tax Reform radically changes how our small business clients will move forward. This session will review how Tax Reform will be implemented among our Schedule C filers as well as entity members and corporations. At the end of this session, attendees will be able to: Recognize when the Small Business Deduction is available Calculate the Small Business Deduction Discuss the Small Business Accounting Method expansion Utilize Bonus Depreciation, Section 179 Discuss the new Paid Family/Medical Leave credit Recognize the revised NOL provisions Discuss the previously available tax breaks no longer available Register Online: ptereducation.aspx By Phone: Call Member Services (800) Ex 3 Mail/Fax Registration forms available at the end of newsletter Locations: Aug. 2-3, 2018 del Lago Resort & Casino 1133 State Route 414 Waterloo, NY Aug , 2018 Hilton Garden Inn Melville 575 Round Swamp Rd Plainview, NY Aug , 2018 Adria Hotel & Conference Center Northern Blvd Bayside, NY Aug , 2018 Hampton Inn Tarrytown 200 West Main St Elmsford, NY Aug , 2018 Courtyard Albany Airport 168 Wolf Road Albany, NY 12205

4 Tax Season Issues? Did you have a taxpayer who asked a tricky tax question that you just couldn t answer? Did you encounter a tax issue not common in your practice and need some guidance? Send them to the NYS Chapter! For the past three years, we have gathered your questions and sticky situations into our Tax Season Issues Module for our Fall Series and it has been a HUGE hit! For this coming year we would love to keep Tax Season Issues fresh and exciting for our seminars, but we can t do it without your help! Send your Tax Season Issues to Rick Rottkamp at rh1040@aol.com You may just find the answer in our 2018 Fall Seminar! Quickfinder Special Price Alert! Order your Quickfinders early and save BIG! Save up to 25% off and get free shipping with online orders of 3 or more products! With Quickfinder quantity discount pricing, the more you buy, the more you save. Plus, ordering online by June 30 th will give you FREE shipping when you order 3 or more products. Visit tax.tr.com/natp to place your order, or mention promo code Q680 and NATP when placing order over the phone or on the estore! Remember to use your code so your association receives a donation for each product purchased and you receive your discount. *FREE shipping on orders of 3 or more products expires June 30! NY Chapter Founders Award Ralph Sommers 2013 Wendy C. Loomis 2014 Karl Herba 2015 Dwayne Rocky Rhodes 2016 Kathryn M. Keane 2017 Newsletter Committee: Kathryn M. Keane, EA Christina Parisi & Tricia Santana Consider Tax Court by Roman Bellusci CPA For those of us who represent our clients at an IRS or State audits know 99% of the time there will be additional tax due. If agreed, all is well. If it s unfair and unreasonable and the auditor won't budge no matter how much evidence (good evidence) you turned over, there are alternatives. After an appeal to his/her supervisor fails, consider Tax Court. Most of us are not authorized to represent our clients in Tax Court (either an admitted attorney or tax practitioner who passed the exam and is admitted to practice before the court). Frankly I found in most cases I handle, it never gets to Tax Court. Most of these cases are resolved BEFORE they get there. You can represent your client right through to Appeals. Saddened by the suicides of NYC Taxi Cab drivers, I represented a Cab Driver Pro Bono ($ 8,500 Fee Ouch!) After many months of correspondence, I secured a 70% reduction in the additional tax levied by the auditor for 2015 & See for more details

5 NATP New York Chapter Individuals and Trusts 8:00 am 5:00 pm Name: Member ID#: Designation(s): License #: PTIN #: Address: City: State: Zip: Phone: Emergency Contact Name & Phone Number Check here if the above address should be your main mailing address. Registration Fees Member Non-Member Early Bird $225 $250 (ends 8 days prior to seminar) Standard $250 $275 Guest Meal Ticket $25 Paper Materials $20 Registration includes E Materials and Lunch Location Please check the box in front of the location you wish to attend. Plainview Hilton Garden Inn - Melville Aug. 20, 2018 Bayside Adria Hotel & Conf. Center - Queens Aug. 22, 2018 Elmsford Hampton Inn Tarrytown Aug. 27, 2018 Albany Courtyard - Albany Airport Aug. 29, 2018 Payment Method: Credit Card or Checks made payable to NATP Name as it appears on CC: CC #: Exp. Date: CVV # Signature: How To Register: Mail To: NATP, PO Box 8002 Appleton, WI Phone: , Ext. 3 Fax: Online: Cancellation Policy: Cancellations must be submitted to NATP no later than 8 days prior to the seminar to receive a refund. Cancellation is subject to a $25 fee.

6 NATP New York Chapter Tax Reform for Small Businesses 8:00 am 5:00 pm Name: Member ID#: Designation(s): License #: PTIN #: Address: City: State: Zip: Phone: Emergency Contact Name & Phone Number Check here if the above address should be your main mailing address. Registration Fees Member Non-Member Early Bird $225 $250 (ends 8 days prior to seminar) Standard $250 $275 Guest Meal Ticket $25 Paper Materials $20 Registration includes E Materials and Lunch Location Please check the box in front of the location you wish to attend. Plainview Hilton Garden Inn - Melville Aug. 21, 2018 Bayside Adria Hotel & Conf. Center - Queens Aug. 23, 2018 Elmsford Hampton Inn Tarrytown Aug. 28, 2018 Albany Courtyard - Albany Airport Aug. 30, 2018 Payment Method: Credit Card or Checks made payable to NATP Name as it appears on CC: CC #: Exp. Date: CVV # Signature: How To Register: Mail To: NATP, PO Box 8002 Appleton, WI Phone: , Ext. 3 Fax: Online: Cancellation Policy: Cancellations must be submitted to NATP no later than 8 days prior to the seminar to receive a refund. Cancellation is subject to a $25 fee.