The Line-by-Line Preparation of Form 1041 (2022 Edition)

As a tax professional, you are used to advising clients on year-end tax matters. 2021 is no exception. However, considering all the extraordinary issues that your clients have faced in these past few years, year-end planning for 2021 will be much more significant. Congress is considering passing infrastructure and additional legislation. It includes proposed international, corporate, individual and retirement tax “reforms”. This course will provide you with planning ideas that will direct your client’s year-end needs.The materials will include all updates in existence at the time of the lecture. In addition, we will opine on the probability of this proposal passing as law.Exclusion of amounts from state-based catastrophe loss mitigation programsRepeal of temporary limitation on personal casualty lossesCredit for qualified wildfire mitigation expendituresNonbusiness energy credit changesResidential energy property and home issuesElectric vehicle credit changesCommercial electric vehicle issuesQualified fuel cell motor vehicle issuesAlternative fuel refueling property creditProposed fringe benefit changesChild tax credit changesDependent care assistance changesCredit for caregiver expensesEarned income tax credit changesAffordable Care Act changesOther misc. issues