COLUMBUS, Ohio – How to deal with tax liabilities in the event of the death of a taxpayer and how to report financial distress are among the topics to be discussed during the upcoming Tax School workshop series offered throughout November and December by tax experts with the IRS and the College of Food, Agricultural, and Environmental Sciences at The Ohio State University.
The annual series is designed to help tax preparers learn about federal tax law updates for this year as well as learn more about issues they may encounter when filing individual and small business 2016 tax returns, said Barry Ward, director of the Ohio State University Income Tax School Program of Ohio State University Extension.
OSU Extension is the statewide outreach arm of the college.
The series of two-day income tax schools, which also offer information on preparing taxes that focus on agricultural concerns, are intermediate-level courses that focus on interpreting tax regulations and changes in tax laws to help tax preparers, accountants, financial planners and attorneys advise their clients, Ward said.
“In a world of online learning, attendees of these schools appreciate the one-on-one time they receive with the experienced instructors,” he said. “They have taught this program for several years and have developed relationships with attendees.
“They offer their contact information for further follow-up and sit with attendees at meals and breaks to answer individualized questions and provide more in-depth information. That’s rare to find and well-received.”
Participants will receive the 2016 National Income Tax Workbook prepared by the Land Grant University Tax Education Foundation for the tax schools held in Ohio and 30 other states.
The tax schools will offer continuing education credit for accountants, enrolled agents, attorneys and certified financial planners, Ward said.
Topics covered during the tax school include:
- Individual tax issues
- Related party issues
- IRS issues
- New legislation, rulings and cases, with an update on the Affordable Care Act
- Agriculture and natural resources
- Business entity issues
- Financial distress
- Business issues
- Death of a taxpayer
- Domestic production activities deduction
- Penalties and defenses
The tax school will also feature a separate, two-hour ethics webinar that will broadcast Dec. 14 at 1 p.m. and Dec. 16 at 10 a.m. The webinar is approved by the IRS for two hours of continuing education credits and will be available to tax school participants enrolled in the two-day tax school at no extra charge.
The preregistration fee for each workshop is $340, with late registration $390. The fee includes all materials, lunches and refreshments. The deadline to enroll is 10 business days prior to the date of each school. Participants can also choose to attend just day one of the workshop for $210. Additionally, the RIA Federal Tax Handbook is available to purchase by participants for a discounted fee of $35.
Discounted registration is available for employers who send five or more employees from the same company to the tax school.
The schools run from 8 a.m. to 5 p.m. on the following dates and locations:
- Nov. 2-3 -- Ole Zim’s Wagonshed, 1387 State Route 590, Gibsonburg.
- Nov. 7-8 -- Kent State University, Student Center, 1075 Risman Drive, Kent.
- Nov. 10-11 -- All Occasions Banquet Center and Catering, 6989 Waldo Delaware Road, Waldo.
- Nov. 14-15 -- Presidential Banquet Center, 4548 Presidential Way, Kettering.
- Nov. 17-18 -- Old Barn Out Back, 3175 W. Elm St., Lima.
- Nov. 28-29 -- Ashland University-Convocation Center, 401 College Ave., Ashland.
- Dec. 1-2 -- Ross County Service Center, 475 Western Ave., Chillicothe.
- Dec. 5-6 -- Ohio University, Zanesville Branch Campus Center, 1425 Newark Road, Zanesville.
- Dec. 8-9 -- The Ohio State University, Fawcett Center, 2400 Olentangy River Road, Columbus.