Income Tax Course

The topics covered in the Course concentrate on materials from the 2024 National Income Tax Workbook.

Ethics.

This section discusses important issues that help tax practitioners comply with their ethical obligations. Topics include the following:

• Beneficial ownership interest reporting and the unauthorized practice of law
• Due diligence – Report of Foreign Bank and Financial Accounts (FBAR)
• Due diligence – written information security plan (WISP)
• Practice continuation – planning for retirement, disability, or death
• Ten case studies that illustrate real-life ethical scenarios

Individual Tax Issues.

This section covers several current issues for tax practitioners preparing individual income tax returns, including the following:

• Clean vehicle credits
• Energy credits
• Digital assets
• Due diligence for head of household filing status, earned income tax credit, and other credits
• Cancellation of debt
• Health savings accounts
• Section 529 qualified tuition programs

Business Tax Issues.

This section reviews the deduction for certain interest on indebtedness that is contingent on a future event, and the tax impact of conditions that arise after the sale. This section explains how to calculate the gain on a contingent payment installment sale, where the sale price has not been fixed in the year of the sale. This section explains what constitutes a business bad debt and the timing and amount of the deduction. It also discusses when fringe benefits are available to small business owners on a tax-favored basis. This section details eligibility for up to a $150,000 credit for employer-provided child care. It explains the business meal and entertainment expense deduction, including several important exceptions to the limit on the deduction. Finally, this section discusses how a marijuana business reports its income and expenses.

IRS Issues.

This section covers issues key IRS issues for practitioners. Topics include the following:

• When tax liens attach
• Record retention requirements
• IRS online accounts
• E-filing requirements and exceptions
• Taxpayer Advocate Service
• IRS Stakeholder Liaison
• Tax scams

Rental Activities.

This section details information that is essential for a tax practitioner who prepares tax returns claiming income and expenses from rental activities. It includes the following topics:

• Residential real estate rentals
• Passive activity loss limits
• Self-employment tax on rental activities
• Repairs/capital expenditures
• Reporting rental activities on Schedule E (Form 1040)

Trusts and Estates.

This section discusses the tax consequences when a debt owed by a decedent is cancelled, and the tax implications of cancellation of a debt owed to the decedent. It reviews when a taxpayer can obtain an income tax charitable contribution deduction or an estate tax charitable deduction for certain contributions, not in trust, of partial interests in property. This section explains planning techniques for use of the increased basic exclusion amount before it sunsets in 2026. This section reviews the grantor trust rules, and it includes sample language that a tax practitioner should look for to determine whether a trust is a grantor trust. This section discusses when jointly owned property is included in the gross estate, and how to determine the basis of property passing to a surviving joint owner. Finally, this section explains a recent case that created a split in the circuit courts regarding when life insurance proceeds used to redeem a deceased owner’s interest are included in valuing the deceased owner’s interest in the company.

Related Party Issues.

Related party rules frequently affect the timing or character of income or deductions and sometimes disallow a loss or deduction entirely. This section discusses the following:

• I.R.C. § 267 loss limits/income matching
• Transactions between related persons and partnerships
• Disallowance of the I.R.C.§ 179 deduction and bonus depreciation on property acquired from a related party.
• Ordinary income treatment of related party gain from the sale or exchange of depreciable property
• Like-kind exchanges with a related party
• Related party installment sales

Limited Liability Company Issues.

This section covers important tax considerations for limited liability companies (LLCs). It reviews the default entity classifications, and how an entity can elect to change its default entity classification. It explains how a change in LLC ownership may cause a change in its default entity classification and the tax consequences of a change in classification. This section discusses tax issues for an LLC owned by spouses. It also examines the impact of LLC owner compensation on the QBI deduction and the section 179 deduction. Finally, this section explains a recent Tax Court case that applies a functional analysis to determine if a partner is a limited partner whose distributive share of partnership income may not be subject to self- employment tax.

Business Entity Tax Issues.

This section examines current issues that pertain to business entities, including beneficial ownership interest reporting and the pass-through entity tax deduction and the tax benefit rule. It explains how a tax practitioner can help a nonprofit organization maintain its tax-exempt status, and new guidance that allows an I.R.C. § 501(c)(3) organization to change to another exempt entity type. This section provides an overview of the centralized partnership audit regime, with a focus on how a partnership decides if it should elect out of that regime.

Agricultural and Natural Resource Tax Issues.

This section covers several current issues for tax practitioners preparing returns for farmers and ranchers, including the following:

Breweries, distilleries, and wineries, inventory, and capitalization

• Vines, fruit trees, UNICAP, bonus depreciation
• Oil and gas depletion
• Farm and ranch tax elections
• Easements
• Qualified conservation easement contributions

International Tax Issues.

This section discusses common tax issues for US taxpayers with income or assets abroad, and non-US taxpayers with income or assets in the US. It explains the requirements to withhold tax under the Foreign Investment in Real Property Tax Act. It discusses when a taxpayer needs an individual taxpayer identification number (ITIN). It details reporting requirements for gifts or bequests from a foreign person and FBAR filing requirements. Finally, this section explains how to prepare Form 1040-NR, U.S. Nonresident Alien Income Tax Return, with a focus on the different reporting requirements that apply. 

New and Expiring Legislation.

This section covers recently enacted tax legislation and procedures. It is organized by subject to help participants quickly find topics of interest and includes a table of tax provisions that expired or are set to expire.

Rulings and Cases.

This section summarizes selected rulings and cases that were issued from September 2023 through August 2024. It gives participants an update on issues that are being addressed by the IRS and the courts.

Tax Rates and Useful Tables.

This section reports the tax rates, deduction limits, credit limits, and income thresholds and limits that change each year.

South Carolina - Department of Revenue Issues.

SC Tax Legislation, SC-DOR Security Updates, and update on South Carolina E-File.

First Day

Second Day 

First Day

Second Day 

First Day

Second Day 

Third Day 

Ronny Burkett, CPA, CVA
President, Burkett, Burkett & Burkett Certified Public Accountants, PA

Ronny is the President of Burkett, Burkett & Burkett Certified Public Accountants, PA, and specializes in the following areas: tax return preparation, financial statement preparation, business valuations, and litigation support services. Ronny holds CPA certification since 1979, CVA certification since 1997 and a Bachelor’s Degree of Science in Accounting from the University of South Carolina.

Ronny belongs to several professional organizations including the South Carolina Association of Certified Public Accountants, Central Chapter of Certified Public Accountants, American Institute of Certified Public Accountants, and the National Association of Certified Valuation Analysts. Given Ronny’s wide and deep knowledge in taxation issues he is asked regularly to speak at meetings, conferences and programs across the United States. Finally, Ronny is a lifelong resident of South Carolina.

Daniel L. Crowson, CPA
Executive Vice-President, Burkett, Burkett & Burkett Certified Public Accountants, PA

Daniel is Executive Vice-President at Burkett, Burkett & Burkett Certified Public Accountants, PA, and specializes in: accounting, tax advisory, and compliance services for businesses, individuals, and non-profits. Daniel holds CPA certification since 2002 and both a Bachelor of Science Degree in Accounting and a Master of Accountancy from the University of South Carolina.

Daniel belongs to the South Carolina Association of Certified Public Accountants and to the American Institute of Certified Public Accountants. Daniel worked and excelled at Bauknight Pietras & Stormer, PA; the LPA Group Incorporated; and at Lowrance Cooper & Company, PA, before joining Burkett, Burkett & Burkett Certified Public Accountants, PA. Finally, Daniel is a lifelong resident of South Carolina.

Allison Ford, CPA, CFE
Executive Vice President, Burkett, Burkett & Burkett Certified Public Accountants, PA

Allison is Executive Vice President at Burkett, Burkett & Burkett Certified Public Accountants, PA, and specializes in the following areas: small business consulting and software support, litigation support, forensic accounting, fraud examination, tax preparation and planning for individuals and businesses, and non-profit and church accounting and tax preparation.

Allison belongs to the South Carolina Association of Certified Public Accountants, American Institute of Certified Public Accountants, Association of Certified Fraud Examiners, and National Association of Certified Valuation Analysts. Allison participates and has participated in diverse chambers and boards in South Carolina.

Angie Brazell, CPA
Senior Accountant, Burkett Burkett & Burkett Certified Public Accountants, PA

Angie is Senior Accountant at Burkett Burkett & Burkett Certified Public Accountants, PA and she specializes in corporate and individual tax, estate and trust tax, and compilations and reviews.

Evette Davis
Senior Stakeholder Liaison, Internal Revenue Service

Evette Davis has been with the Internal Revenue Service for 33 ½ years. She is currently a Senior Stakeholder Liaison representative for the Internal Revenue Service, Communication & Liaison Division located in Charlotte, N.C.

Evette joined the IRS in 1988 as an intern; upon graduation in 1990 from South Carolina State University, with a Bachelor of Science Degree in Office Management and Business Education, she began her career with the IRS as a Revenue Officer.

She works very closely with various N.C. and S.C. Federal, State and Local governments, Tax Professionals as well as industries and business organizations. Her goal is to educate stakeholders about recent tax law changes, provide small business resources and services necessary to promote business longevity and voluntary compliance. She is the NC/SC Area Lead for Business Industries, NC/SC Disaster Assistance, Tax Practitioner Institutes and the SC Area Lead for Tax Professionals.

Cynthia Kenney-McIntyre (Cindy)
Taxpayer Advocate, Internal Revenue Service

The Taxpayer Advocate Service (TAS) is your voice at the IRS. We ensure you are treated fairly, and know and understand your rights. If you are having tax problems and have not been able to resolve them with the IRS, you may be eligible for free TAS help.

Keith J. Wicker, CPM
Special Projects Coordinator, SC Department of Revenue

Keith J Wicker serves as a Special Project Coordinator for SCDOR’s Modernized e-File (MEF) Program, e-commerce initiatives and relations with tax preparation software companies. Joining SCDOR in 1990, Keith has over 27 years of firsthand experience with the evolution of tax e-services in South Carolina.

Krystle Walden, CPA
Sr. Tax Research Analyst, SC Department of Revenue

Krystle has over thirteen years of experience working as a tax field auditor and as a tax analyst.. She joined the South Carolina Department of Revenue in 2017.

Trey Bishop
Tax Law and Process Improvement Director Training, SC Department of Revenue

Trey Bishop currently serves as the agency’s Tax Law Training Coordinator, educating employees and taxpayers on annual legislative changes impacting various tax areas. Trey has been with the South Carolina Department of Revenue since 2012.

Jean Funches
Taxpayer Advocate, SC Department of Revenue (Columbia only)

Jean Funches currently serves as the Department of Revenue’s tax advocate. Through the facilitation of the resolution of taxpayer grievances, Jean has ensured the fair and consistent application of South Carolina tax laws since 2008.

The break-down of credits is as follows:

IRS: 18 hours total. Program Codes as follows:

Online Courses

General Tax Law Online: 3XKET-T-00047-24-O and 3XKET-T-00046-24-O for up to 13 credit hours
Ethics Online: 3XKET-E-00044-24-O for up to 2 credit hours
Updates Online: 3XKET-U-00045-24-O for up to 3 credit hours

In Person Courses

General Tax Law In-person: 3XKET-T-00047-24-I and 3XKET-T-00046-24-I for up to 13 credit hours
Ethics In-person: 3XKET-E-00044-24-I for up to 2 credit hours
Updates In-person: 3XKET-U-00045-24-I for up to 3 credit hours

Participants need to provide us with their PTIN and full name as registered with the IRS for accurate reporting.

We report to the IRS up to: 18 hours total

Federal Tax Law: 13 hours
Federal Ethics: 2 hours
Federal Tax Law Updates: 3 hours

SC Board of Accountancy: 18 hours total

Self-report.

NASBA Registry Sponsor ID number: 147318

Attorneys: 15 CLE credit hours total

Tax Law: 13 hours
Ethics: 2 hours

We report up to 15 credit hours of CLE to the Supreme Court of South Carolina Commission on Legal Education, at the end of November and at the end of December. Course ID Code will be provided to us in early June. Participants need to provide us with their South Carolina Bar number and full name as registered with the Supreme Court for accurate reporting. 

Certified Financial Planners: 16 hours total

We report up to 16 credit hours to the CFP Board via our parent organization, LGUTEF, at the end of November and at the end of December. Program Code will be provided to us in early October. Participants need to provide us with their CFP number and full name as registered with the CFP Board for accurate reporting.

“We have entered into an agreement with the Office of Director of Practice, Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, Section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors and length of class hours.  This agreement does not constitute an endorsement by the Director of Practice as to the quality of program or its contribution to the professional competence of the enrolled individual.”

The Zoom link and instructions to access the webinar will be provided with the confirmation email after completing the registration and providing payment through the Eventbrite registration process. Please make sure to check your Inbox folder. If you do not receive this email within 24 hours after completing your purchase, please check your Spam folder and/or email us at tax@clemson.edu. 

A reminder email with the Zoom link and instructions are sent again 48 hours before the course begins. Finally, if you are not familiar with Zoom, please be sure to test your system before the event as in very rare cases the firewall settings in your computer or within your network may prevent you from logging into the platform. You can go to: https://zoom.us/test and test your internet connection by joining a test meeting. Once you access the Test meeting, you will be able to check your speakers and microphone functionality. You will not need to have a video camera or a microphone for this event. You will be able to communicate through the Chat and Q&A function of the webinar.

Moderator/Group Sign-in and out form for participants attending as a group.

• 2024 National Income Tax Workbook (sent by postal mail before the Online events)
• 2024 South Carolina Department of Revenue Tax Manual (sent by postal mail before the Online events)
• Online access for the last ten years National Income Tax Workbooks pdf chapters
• RIA Federal Tax Handbook (sent by postal mail after the last event in mid-December)
• Online access to the PowerPoint slides used by the instructors during the events (after the last event in mid-December)

If the participant cancels their registration:

1. Over seven days of the Course start date: a full refund will be granted to the participant to the original method of payment.
2. Within seven days of the Course start: no refund will be granted; however, all course materials will be sent to the participant. The original participant may substitute his registration to another attendee.
3. Please contact the Program Director via email to  tax@clemson.edu or phone (864) 656-1625 to cancel attendance and request a refund (if applicable).

If the Tax School cancels the Course:

1. The participant may switch to another date or webinar or receive a full refund to the original method of payment.
2. The participant will be notified by the Program Director or his assistants via email from the following address:  tax@clemson.edu  If no confirmation by the participant has been received within seven days of Course start, the participant will be notified via phone from (864) 656-1625. Furthermore, Course cancellation notifications will be made available at the Tax School's website

What is the Annual Filing Season Program (AFSP) Record of Completion? 
 
The Annual Filing Season Program aims to recognize the efforts of non-credentialed return preparers who aspire to a higher level of professionalism. Those who choose to participate can meet the requirements by obtaining 18 hours of continuing education, including a six-hour federal tax law refresher course with test. The return preparer must also renew their preparer tax identification number (PTIN) for the upcoming year and consent to adhere to the obligations in Circular 230, Subpart B and section 10.51.
 
Upon completion of these requirements, the return preparer receives an Annual Filing Season Program – Record of Completion from the IRS.
 
Annual Filing Season Program participants are included in a public database of return preparers on the IRS website. The Directory of Federal Tax Return Preparers with Credentials and Select Qualifications includes the name, city, state, ZIP Code, and credentials of all attorneys, CPAs, enrolled agents, enrolled retirement plan agents and enrolled actuaries with a valid PTIN, as well as all Annual Filing Season Program – Record of Completion holders.
 
Source: http://www.irs.gov/Tax-Professionals/Annual-Filing-Season-Program
 
How do I obtain an Annual Filing Season Program (AFSP) – Record of Completion?
 
Take 18 hours of continuing education from IRS-Approved CE Providers, including:

• ten (10) hours of federal tax law topics;
• two (2) hours of ethics
• a six (6) hour Annual Federal Tax Refresher (AFTR) course that covers filing season issues and tax law updates, as well as a knowledge-based comprehension test administered at the end of the course by the CE Provider;

• ten (10) hours of federal tax law topics;
• two (2) hours of ethics.

Then, you can get the 6-hour AFTR module from an online vendor like, for instance, Fast Forward Academy:
https://fastforwardacademy.com/course/irs-annual-filing-season-program-afsp/aftr
 
Please keep in mind that you are exempted from taking the AFTR exam at the end of the module if you are a:

• Enrolled Agents (EA)
• Certified Public Accountants (CPA)
• Attorneys
• Former IRS Registered Tax Return Preparers (RTRP) (Learn more about RTRP)
• Enrolled Retirement Plan Agents (ERPA)
• Preparers who have passed Part 1 of the Special Enrollment Exam (SEE) within the past 2 calendar years
• Preparers currently registered with California Tax Education Council (CTEC)
• IRS Volunteer Income Tax Assistance (VITA) volunteers
• Preparers who are currently registered with Oregon Board of Tax Practitioners
• Preparers who have passed the Maryland examination and/or are currently registered with Maryland

General Inquiries
Phone: (864) 650-3282
Email: tax@clemson.edu

Dr. Adam J. Kantrovich
Director, Tax School
Extension Associate Professor
Clemson University
E-mail address: akantro@clemson.edu
Phone number: 803-699-3176

Kevin Burkett, CPA
Assistant Director, Tax School
Extension Associate
Clemson University
E-mail address: kburke5@clemson.edu
Phone number: 803-788-5700

Mandy Smith
Administrative Support
Tax School
Clemson University Cooperative Extension
Phone:864-656-1625
Email: abs4@clemson.edu