Skip to main content

Bankruptcy Questions Answered! FLEXCAST

Available Until

Your Desk

1.0 Credits

Member Price $49.00

Non-Member Price $56.00

Overview

Bankruptcy has major implications for tax returns and the amount of money owed to the Internal Revenue Service. When preparing taxes for individuals in bankruptcy, many layers of complexity are added to an already challenging process. This is made all the more difficult by annual changes to handing bankruptcy in tax returns. Be ready to anticipate tax impacts in a variety of scenarios with this new class from Robert E. McKenzie.

Highlights

Types of Bankruptcies. Creation of the Bankruptcy Estate. Attribution of Income. Post-Bankruptcy.

Prerequisites

None.

Designed For

CPAs, financial professionals, enrolled agents and attorneys.

Objectives

Basics and types of bankruptcy. Taxation of the individual debtors. Taxation of bankruptcy estates. Income from discharge of indebtedness. Special rules for taxation of individuals in chapter 7 and 11. Filing obligations. Coordination of exclusions. Reduction of debtor’s tax attributes. Practice Tip- attributes or basis?

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.

Leader(s):

Leader Bios

Robert McKenzie Esq., Western CPE

Robert (Bob) E. McKenzie, EA, Esq., is a partner of the law firm of Arnstein & Lehr LLP of Chicago, Illinois, concentrating his practice in representation before the IRS and state tax agencies. He has lectured extensively on the subject of taxation and has made numerous media appearances, including on Dateline NBC and ABC World News Tonight.

Bob has been elected to the American College of Tax Counsel where he serves as secretary/treasurer of its board of regents. Prior to entering private practice, he was employed by the IRS Collection Division in Chicago, Illinois. From 2009–2011, Bob served as a member of the IRS Advisory Council (IRSAC), a group appointed by the IRS Commissioner.

Bob is the author of Representation Before the Collection Division of the IRS as well as the coauthor of Representing the Audited Taxpayer Before the IRS and Representation Before the United States Tax Court.

Return to Top

Non-Member Price $56.00

Member Price $49.00