Before tax season, get an update on how to prepare for peer review and hot tax topics. Then, hear developments on revenue recognition and lease accounting, as well as foreign tax issues.
Highlights
7:00-7:40 AM
Registration, Breakfast & Exhibitors
7:40-7:45 AM
Welcome and Opening Remarks
Salvatore M. Grasso, CPA
Hudson Chapter President
7:45-9:25 AM
How to Prepare for Peer Review
Frank R. Boutillette, CPA
This session will help prepare you for your upcoming peer review. We will review changes that have occurred in the past year; demonstrate how the peer review process works and what you should expect during the peer review. Learn how to select a peer reviewer; how to navigate PRIMA; and common findings found on peer reviews.
9:25-9:45 AM
Break & Exhibitors
9:45-11:25 AM
Tax Hot Topics
Howard J. Bookbinder, CPA
Hear a review of Circular 230, partnership changes, e-filing credentials, and uncover what's new at NJ Division of Taxation and the IRS.
11:25 AM-12:25 PM
Lunch & Exhibitors
12:25-2:05 PM
Accounting and Auditing Update
David R. Dacey, CPA
With the effective date fast approaching for new requirements for revenue recognition and lease accounting, this session will focus on these requirements, along with other accounting and auditing issues affecting the profession.
2:05-2:20 PM
Break
2:20-4:00 PM
Deciphering a New Foreign Language: FATCA, IGA, PFIC, FBAR, OVDP, CFC
Parag Patel, Esq.
With the IRS targeting taxpayers with unreported foreign assets, tax professionals must identify the pitfalls of the new world of global financial transparency and learn the requirements of foreign asset reporting. We will learn of the detailed rules of foreign asset disclosure: who needs to file and accounts that must be reported, and the potential liability of the taxpayer and tax preparer. We will identify best practices for compliance and discuss the benefits and pitfalls of the IRS’ voluntary disclosure programs for non compliant taxpayers. Experienced tax attorney Parag Patel has handled over two hundred disclosures for clients.
Benefits
Earn 4 CPE credits in AA and 4 CPE credits in TX.
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