| June 18, 2025 | 2:00 PM-4:00 PM EDT | Tax Series with Ed Zollars: Scam Loss Deductions Under IRC Section 165: Did Your Client Fall for a Preferred Fraud Under the Law?Gain a comprehensive understanding of the complex rules governing the deductibility of losses arising from scams under Internal Revenue Code (IRC) Section 165. With the prevalence of sophisticated fraudulent schemes, tax professionals must navigate the intricate legal framework, particularly in light of the significant changes introduced by the Tax Cuts and Jobs Act (TCJA). HighlightsThe TCJA has largely suspended deductions for personal theft losses for tax years 2018 to 2025, making the proper classification of a loss under IRC §165(c)(2) as arising from a “transaction entered into for profit” the primary avenue for deductibility for many victims. This program will drawi on foundational principles, specific theft loss rules, the impact of the TCJA, and crucial IRS guidance like Chief Counsel Advice (CCA) 202511015 and the Madoff framework. Topics include the following:
- Foundations of loss deductions under IRC Section 165: General Rules and Limitations for Individuals (§165(a), §165(c))
- Defining "theft" for tax purposes and its broad interpretation for scams
- Timing of theft loss deduction: The Discovery Rule (§165(e)) and the "No Reasonable Prospect of Recovery" Standard
- Calculating the amount of deductible theft loss
- Profound impact of the TCJA (§165(h)(5)) on suspending personal theft losses and the limited exceptions
- In-depth analysis of the critical "Transaction Entered Into for Profit" Test (§165(c)(2)) post-TCJA
- Navigating IRS guidance: Key insights from CCA 202511015 differentiating deductible investment scams from non-deductible personal scams (e.g., romance, kidnapping)
- Understanding the Madoff Framework (Rev. Rul. 2009-9, Rev. Proc. 2009-20, Rev. Proc. 2011-58) for Ponzi schemes, including the optional safe harbor and its limitations for newer scam types
- Practical considerations for CPAs: Determining the discovery year, documenting no reasonable prospect of recovery, meeting stringent substantiation requirements, and proper reporting on Form 4684
BenefitsUnderstand how to identify deductible losses, determine the correct timing and amount, navigate the “reasonable prospect of recovery” rule and meet rigorous substantiation requirements. Designed ForCPAs and accountants specializing in tax View Full Event Details | Live Webcast |
| July 11, 2025 | 12:00 PM-2:00 PM EDT | Tax Series with Ed Zollars: Scam Loss Deductions Under IRC Section 165: Did Your Client Fall for a Preferred Fraud Under the Law?Gain a comprehensive understanding of the complex rules governing the deductibility of losses arising from scams under Internal Revenue Code (IRC) Section 165. With the prevalence of sophisticated fraudulent schemes, tax professionals must navigate the intricate legal framework, particularly in light of the significant changes introduced by the Tax Cuts and Jobs Act (TCJA). HighlightsThe TCJA has largely suspended deductions for personal theft losses for tax years 2018 to 2025, making the proper classification of a loss under IRC §165(c)(2) as arising from a “transaction entered into for profit” the primary avenue for deductibility for many victims. This program will drawi on foundational principles, specific theft loss rules, the impact of the TCJA, and crucial IRS guidance like Chief Counsel Advice (CCA) 202511015 and the Madoff framework. Topics include the following:
- Foundations of loss deductions under IRC Section 165: General Rules and Limitations for Individuals (§165(a), §165(c))
- Defining "theft" for tax purposes and its broad interpretation for scams
- Timing of theft loss deduction: The Discovery Rule (§165(e)) and the "No Reasonable Prospect of Recovery" Standard
- Calculating the amount of deductible theft loss
- Profound impact of the TCJA (§165(h)(5)) on suspending personal theft losses and the limited exceptions
- In-depth analysis of the critical "Transaction Entered Into for Profit" Test (§165(c)(2)) post-TCJA
- Navigating IRS guidance: Key insights from CCA 202511015 differentiating deductible investment scams from non-deductible personal scams (e.g., romance, kidnapping)
- Understanding the Madoff Framework (Rev. Rul. 2009-9, Rev. Proc. 2009-20, Rev. Proc. 2011-58) for Ponzi schemes, including the optional safe harbor and its limitations for newer scam types
- Practical considerations for CPAs: Determining the discovery year, documenting no reasonable prospect of recovery, meeting stringent substantiation requirements, and proper reporting on Form 4684
BenefitsUnderstand how to identify deductible losses, determine the correct timing and amount, navigate the “reasonable prospect of recovery” rule and meet rigorous substantiation requirements. Designed ForCPAs and accountants specializing in tax View Full Event Details | Webcast Replay |
| July 25, 2025 | 10:00 AM-12:00 PM EDT | Keeping Out of Trouble: The Risk of Invalid or Terminated S ElectionsThis session provides a detailed guide to navigating S corporation election imperfections, helping practitioners understand how to correct late, invalid or inadvertently terminated S elections to avoid adverse tax consequences such as double taxation. HighlightsMajor topics to be covered include:
- Identifying common S election defects: Diagnose problems such as late Form 2553 filings, invalid S elections, more than one class of stock or missing shareholder consents, inadvertent terminations of valid S elections (e.g., ceasing to be a small business corporation, excessive passive investment income) and ancillary election failures (e.g., late QSST, ESBT, QSub elections).
- Automatic and simplified relief procedures (Rev. Proc. 2013-30): Learn the primary simplified method for obtaining relief for late S corporation elections and certain related elections (e.g., ESBT, QSST, QSub). This includes understanding eligibility requirements like the three-year and 75-day time limit, the "solely because of lateness" condition, the need for reasonable cause and diligence and consistent reporting by the entity and its shareholders.
- Addressing common issues via Rev. Proc. 2022-19: This procedure provides "taxpayer assistance procedures" to resolve certain frequently encountered S corporation issues without needing a private letter ruling (PLR). Topics include clarification on the one-class-of-stock rule regarding agreements and disproportionate distributions and the self-correction pathway for non-identical governing provisions. It also addresses non-critical errors on election forms and inconsistent tax return filings.
Benefits
- Gain an understanding of various IRS relief mechanisms, from automatic procedures to Private Letter Rulings.
- Preserve valuable S corporation status for clients.
Designed ForExperienced tax accountants who work with S corporation clients or employers View Full Event Details | Live Webcast |
| July 31, 2025 | 12:00 PM-2:00 PM EDT | Keeping Out of Trouble: The Risk of Invalid or Terminated S ElectionsThis session provides a detailed guide to navigating S corporation election imperfections, helping practitioners understand how to correct late, invalid or inadvertently terminated S elections to avoid adverse tax consequences such as double taxation. HighlightsMajor topics to be covered include:
- Identifying common S election defects: Diagnose problems such as late Form 2553 filings, invalid S elections, more than one class of stock or missing shareholder consents, inadvertent terminations of valid S elections (e.g., ceasing to be a small business corporation, excessive passive investment income) and ancillary election failures (e.g., late QSST, ESBT, QSub elections).
- Automatic and simplified relief procedures (Rev. Proc. 2013-30): Learn the primary simplified method for obtaining relief for late S corporation elections and certain related elections (e.g., ESBT, QSST, QSub). This includes understanding eligibility requirements like the three-year and 75-day time limit, the "solely because of lateness" condition, the need for reasonable cause and diligence and consistent reporting by the entity and its shareholders.
- Addressing common issues via Rev. Proc. 2022-19: This procedure provides "taxpayer assistance procedures" to resolve certain frequently encountered S corporation issues without needing a private letter ruling (PLR). Topics include clarification on the one-class-of-stock rule regarding agreements and disproportionate distributions and the self-correction pathway for non-identical governing provisions. It also addresses non-critical errors on election forms and inconsistent tax return filings.
Benefits
- Gain an understanding of various IRS relief mechanisms, from automatic procedures to Private Letter Rulings.
- Preserve valuable S corporation status for clients.
Designed ForExperienced tax accountants who work with S corporation clients or employers View Full Event Details | Webcast Replay |
| August 21, 2025 | 10:00 AM-12:00 PM EDT | Tax Series with Ed Zollars: AugustStay in the know with this tax series, featuring Ed Zollars, CPA. Throughout the year, Ed breaks down a different federal tax topic so you can stay on top of the changes and provide optimal service to your clients. Designed ForCPAs and other financial professionals View Full Event Details | Live Webcast |
| August 28, 2025 | 12:00 PM-2:00 PM EDT | Tax Series with Ed Zollars: AugustStay in the know with this tax series, featuring Ed Zollars, CPA. Throughout the year, Ed breaks down a different federal tax topic so you can stay on top of the changes and provide optimal service to your clients. Designed ForCPAs and other financial professionals View Full Event Details | Webcast Replay |
| October 20, 2025 | 10:00 AM-12:00 PM EDT | Tax Series with Ed Zollars: OctoberStay in the know with this tax series, featuring Ed Zollars, CPA. Throughout the year, Ed breaks down a different federal tax topic so you can stay on top of the changes and provide optimal service to your clients. HighlightsDetails coming soon. Designed ForCPAs and other financial professionals View Full Event Details | Live Webcast |
| October 28, 2025 | 12:00 PM-2:00 PM EDT | Tax Series with Ed Zollars: OctoberStay in the know with this tax series, featuring Ed Zollars, CPA. Throughout the year, Ed breaks down a different federal tax topic so you can stay on top of the changes and provide optimal service to your clients. HighlightsDetails coming soon. Designed ForCPAs and other financial professionals View Full Event Details | Webcast Replay |
| November 21, 2025 | 10:00 AM-12:00 PM EST | Tax Series with Ed Zollars: NovemberStay in the know with this tax series, featuring Ed Zollars, CPA. Throughout the year, Ed breaks down a different federal tax topic so you can stay on top of the changes and provide optimal service to your clients. HighlightsDetails coming soon. Designed ForCPAs and other financial professionals View Full Event Details | Live Webcast |
| November 25, 2025 | 12:00 PM-2:00 PM EST | Tax Series with Ed Zollars: NovemberStay in the know with this tax series, featuring Ed Zollars, CPA. Throughout the year, Ed breaks down a different federal tax topic so you can stay on top of the changes and provide optimal service to your clients. HighlightsDetails coming soon. Designed ForCPAs and other financial professionals View Full Event Details | Webcast Replay |
| December 17, 2025 | 10:00 AM-12:00 PM EST | Tax Series with Ed Zollars: DecemberStay in the know with this tax series, featuring Ed Zollars, CPA. Throughout the year, Ed breaks down a different federal tax topic so you can stay on top of the changes and provide optimal service to your clients. HighlightsDetails coming soon. Designed ForCPAs and other financial professionals View Full Event Details | Live Webcast |
| December 22, 2025 | 12:00 PM-2:00 PM EST | Tax Series with Ed Zollars: DecemberStay in the know with this tax series, featuring Ed Zollars, CPA. Throughout the year, Ed breaks down a different federal tax topic so you can stay on top of the changes and provide optimal service to your clients. HighlightsDetails coming soon. Designed ForCPAs and other financial professionals View Full Event Details | Webcast Replay |
| January 21, 2026 | 10:00 AM-12:00 PM EST | Tax Series with Ed Zollars: JanuaryStay in the know with this tax series, featuring Ed Zollars, CPA. Throughout the year, Ed breaks down a different federal tax topic so you can stay on top of the changes and provide optimal service to your clients. HighlightsDetails coming soon. Designed ForCPAs and other financial professionals View Full Event Details | Live Webcast |
| January 28, 2026 | 12:00 PM-2:00 PM EST | Tax Series with Ed Zollars: JanuaryStay in the know with this tax series, featuring Ed Zollars, CPA. Throughout the year, Ed breaks down a different federal tax topic so you can stay on top of the changes and provide optimal service to your clients. HighlightsDetails coming soon. Designed ForCPAs and other financial professionals View Full Event Details | Webcast Replay |