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.
BENEFITS
Earn 4 CPE credits in AA and 4 CPE credits in TX.
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.
COURSE LEVEL
Update
PREREQUISITES
None
ADVANCE PREPARATION
None
ADDITIONAL NOTES
Room location: Dinneen Hall, McIntyre A&B
PARKING: RLC Parking lot (located next to the Recreational Life Center on Montgomery Street between Kennedy Blvd. and West side Avenue) and lot 4 for over flow (located on West Side Avenue between Montgomery and Glenwood Avenue) for a map and directions click here.
Early birds save $50 - late fee applied after 11/16. Season Pass holders must register for each event.
For handouts, please visit your My Events page. Handouts are added as received, remember to check back for updates.
Celebrate the Gift of Giving
The Hudson Chapter is sponsoring a toy/food drive at this event. Your donations of unwrapped toys for children from infancy to age 15 or non-perishable food items are greatly appreciated. The Kiwanis Club of Secaucus will pick up all contributions and deliver them to families in need.