NY NATP E-News. Kathryn M. Keane, EA NY Chapter Founders Award. of Brooklyn, NY. October 2017

Transcription

1 October NY Chapter Founders Award 2017 NY Chapter Board Edward Arcara, CPA Chapter President George Powers, EA Chapter Vice President Christina Parisi Chapter Secretary Kathryn M. Keane, EA of Brooklyn, NY The 2017 NY Chapter Founders Award was presented at the NY NATP Annual Meeting on Monday, October 23 rd, 2017 at Turning Stone Resort & Casino. Christopher Bertuglia, EA Chapter Treasurer Chapter Office: NY NATP 1129 Front Street Binghamton NY Fax Newsletter Committee: Kathryn M. Keane, EA Christina Parisi & Tricia Santana Education Chair Richard Rottkamp along with Past Winners Karl Herba (2015) and Ralph Sommers (2013) presents the award to Kathryn Keane. Contributors: Education Committee Christina Parisi

2 Page 2 of 6 Highlights from the Annual Meeting By Christina Parisi, Chapter Secretary The 2017 NY NATP Annual Meeting was held at Turning Stone Resort and Casino in Verona, NY on Monday October 23, Elections The New York Chapter would like to welcome our newest Board Member, Dennis Magilton to the board! Education President Edward Arcara spoke to the membership outlining many of the initiatives the NY Chapter works on throughout the year from answering member questions to offering quality education in multiple locations throughout the state. President Arcara spoke about the NY Chapters Education strategy noting that while many other Chapters require their membership to come to them, the NY Chapter has always tried to bring the events to where our members are. Whether it is going to exciting destinations like Saratoga and Turning Stone during our summer series or coming to a location near you for our Fall Series, the NY Chapter works diligently to keep our membership engaged and involved. In recent years the Chapter has kept our Summer Series focused on Education to help you grow and expand your practice by learning about C Corps, Trusts and Fiduciaries, and has utilized our Fall Series to update your knowledge of day to day tax items for 1040 and NYS clients. But we need your help to keep our topics relevant to you. President Arcara asked all attendees at NY Chapter events to fill out the evaluations and to write in the topics you want to see for next year. Free Courses Offered By NATP National Representative Richard Ganong spoke to the membership about many of the strategies, visions and goals of NATP for the coming year. He spoke about the free value added offerings of NATP such as the Free AFTR Course and Free EA Exam Review Course for Part I as well as the Cybersecurity for Tax Professionals webinars offered free to the public by NATP. National Conference 2018 National Rep Richard Ganong announced the 2018 National Conference and Expo will be held in Anaheim, CA August 6-9,2018 at the Anaheim Marriott National NATP Board of Directors National Rep Richard Ganong urged members to get involved and consider joining your local BOD or to consider running for the National Board of Directors and to contact Jeri Christian for more information.

3 Page 3 of 6 Tax Relief in Disaster Situations UPDATE The IRS is providing tax relief for many affected by the recent Natural Disasters, including Hurricanes Harvey, Irma & Maria and Wildfires. California Wildfires: The IRS is providing help to the Victims of the wildfires that took place beginning on Oct. 8, 2017 in parts of California. Following the recent disaster declaration issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in California will receive tax relief. The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area with deadlines falling on or after Oct. 8, 2017 and before Jan. 31, 2018, taxpayers are granted additional time to file through Jan. 31, Taxpayers in Butte, Lake, Mendocino, Napa, Nevada, Sonoma, and Yuba Counties may qualify for tax relief. The IRS will also waive the usual fees and expedite requests for copies of previously filed tax returns for affected taxpayers. Taxpayers should put the assigned Disaster Designation California, Wildfires in red ink at the top of Form 4506, Request for Copy of Tax Return, or Form 4506-T, Request for Transcript of Tax Return, as appropriate, and submit it to the IRS. Hurricane Maria: The IRS is providing help to the victims of Hurricane Maria. Special tax relief and assistance is available to taxpayers in the Presidential Disaster Areas. So far, the IRS filing and payment relief applies to the following localities identified by FEMA for Individual Assistance due to Hurricane Maria: U.S. Virgin Islands: The islands of St. Croix, St. John, and St. Thomas. Puerto Rico: The IRS is now offering expanded relief to any area designated by FEMA, as qualifying for either individual assistance or public assistance in the Commonwealth of Puerto Rico. This represents all 78 municipalities of Puerto Rico. The IRS will also waive the usual fees and expedite requests for copies of previously filed tax returns for affected taxpayers. Taxpayers should put the assigned Disaster Designation Puerto Rico, Hurricane Maria. Or U.S. Virgin Islands, Hurricane Maria in red ink at the top of Form 4506, Request for Copy of Tax Return, or Form 4506-T, Request for Transcript of Tax Return, as appropriate, and submit it to the IRS. Keep up to date on Tax Relief for Victims of Hurricane Maria at: Continued

4 Page 4 of 6 Tax Relief in Disaster Situations Hurricane Harvey: Keep up to date on Tax Relief for Victims of Hurricane Harvey at: Hurricane Irma: Relief is available for taxpayers in U.S. Virgin Islands, Puerto Rico, Florida, Georgia. Keep up to date on Tax Relief for Victims of Hurricane Irma at: Information on other Tax Relief for Disasters not mentioned above can be found at: This includes relief for certain severe storms, tornadoes, floods, mudslides and winds that took place in the early part of Not an NATP Member Yet? Join Today, Save $28 NATP is the leading organization dedicated to tax professionals and the clients they serve. We encourage you to become part of the NATP family! Not only is Chapter membership included with your general membership, but you ll also receive access to our expert education, publications and updates, research services, business tools and a community of equally dedicated professionals. Become a member today and receive $28 off the regular price of membership. Use code CHAPTER2017 to receive the discount. When joining, be sure to include the state Chapter that recruited you in the field that asks, Who recommended you to NATP? If you have any questions, call Member Services at , ext. 3, or National at natp@natptax.com.

5 Page 5 of 6 Fall Series Lineup! Essential Class: Retirement Tax Issues: Examines tax treatment of qualified retirement plans, QDROs, annuities and Social Security. How to identify retirement income and how it impacts all tax returns. Safe harbor method of calculating taxable income, calculating taxable Social Security benefits and Lump Sum election will be covered. (2 CE Cir. 230 preparers) Exploring Education Tax Issues: Examines the usual and unusual situations when we have an educational deduction or credit. Due diligence, AOTC, LLC, 529 plans, 1095T and Coverdell will be covered with examples and the pecking order in which they are applied. You will elevate your tool kit to handle education issues with this class. (2 CE Cir 230 preparers) Tax Season Issues: Every year our education committee members get stumped by an unusual situation. Included this year are: basis calculations, reporting gifts to children or siblings, amounts that need to be included on 1099-MISC, recognition or non-recognition of gain or loss, custodial issues and use of Form 5329 to either calculate or exclude early distribution penalties. (2 CE Cir. 230 Preparers) NYS Update & Hot Topics: Driver s license mandate, NYS refund hold program, NYS Energy Credit with examples, NYS small business subtraction modification with examples. (No federal CE) NYS DTF: A representative from the NYS Department of Taxation and Finance will discuss recent issues facing NYS. (0 federal CE; 0 CE for NYS) IT201/203 Class: This is the perfect course for office staff, new preparers or experienced preparers wanting a complete review of the New York personal income tax return. Learn what your software program doesn t do for you! Fall Series Dates November 3- Binghamton November Tarrytown November 2- Fishkill November Hauppauge December 7-8- Queens New! Register Online: For more information on hotels, pricing and a printable registration form visit:

6 Page 6 of 6 NY Chapter of NATP 1129 Front Street Binghamton NY Fax PHONE: FAX: stateoffice@newyorknatp.com NY Chapter Founders Award Past Winners Ralph Sommers 2013 Wendy C. Loomis 2014 Karl Herba 2015 Dwayne Rocky Rhodes 2016 We re on FaceBook! Search for NY NATP! Purchasing a Quickfinder? Will you be buying a Quickfinder for the coming season? We all use these guides and the New York Chapter receives a donation for each book ordered when you use the Association Code below or Special Order Form provided at: Quickfinder Association Code Q680 The NY Chapter THANKS YOU FOR YOUR SUPPORT!! The NY Chapter is proud to announce our new website: NewYorkNATP.com Visit our website to stay up to date on the most recent developments from NYS DTF, to learn more about our upcoming seminars, catch the newest edition of this newsletter and so much more!