Listed Transactions Reporting: Conservation Easements, Form 8886 and the IRS Audit Initiative
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This course will update tax practitioners and taxpayers on the latest developments for reportable transactions. Reportable transactions include five types of transactions, most notably, listed transactions and transactions of interest (TOI). Accurately reporting these, and clients participating in these, has been and continues to be an itchy area for tax practitioners. The panel will clarify what transactions qualify or may qualify for this troublesome designation, explain how to report and disclose these transactions on the income tax return, and provide updates on the current status of the IRS audit initiative in this area.
Outline
- Categories and definitions of reportable transactions
- Common reportable transactions
- Conservation easements
- Micro-Captive transactions
- Penalties related to reportable transactions
- Status of IRS audit initiative
Benefits
The panel will review these and other key issues:
- Recognizing common reportable transactions
- Properly disclosing and reporting reportable transactions
- Preparation of Form 8886, Reportable Transaction Disclosure Statement
- Avoiding penalties for nondisclosure
- The status of the IRS compliance campaigns
Faculty
Kimberly S. Bunting
Founder
Bunting Legal Group
Ms. Bunting focuses her practice on corporate and complex real estate transactions, including acquisitions,... | Read More
Ms. Bunting focuses her practice on corporate and complex real estate transactions, including acquisitions, divestitures, services and supply agreements, software, financing, and environmental matters related to business and real estate transactions with deal values from hundreds of thousands of dollars to multi-billion dollar transactions. She combines her business experience and education with her legal practice to provide practical cost-effective legal services and solutions to her clients. Ms. Bunting works with in-house legal departments of large companies as well as with owners and managers of small businesses that do not have in-house legal staff.
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Vivian D. Hoard
Partner
Taylor English Duma
Ms. Hoard helps solve complex tax controversy issues for both individual and business clients. By focusing her practice... | Read More
Ms. Hoard helps solve complex tax controversy issues for both individual and business clients. By focusing her practice on civil and criminal tax controversy, tax litigation, whistleblower claims and voluntary offshore disclosures, Ms. Hoard has become a leader in the tax field. She has successfully settled or tried civil tax controversies involving many varied tax issues, including tax shelter/sham transactions, conservation easements, family limited partnerships, excise taxes, passive loss issues, the civil fraud penalty, hobby loss issues, worker classification, trust fund liability, innocent spouse claims and much more.
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Nancy Ortmeyer Kuhn
Director
Jackson & Campbell
Ms. Kuhn specializes in Federal and state tax matters and is the Chair of the firm's Tax Group. She has... | Read More
Ms. Kuhn specializes in Federal and state tax matters and is the Chair of the firm's Tax Group. She has a strong and diverse background in tax planning, representation of taxpayers before the IRS, and tax litigation. She advises clients with complex non-profit/for-profit structures including joint ventures, affiliated 501(c)(3)/501(c)(4)/527 entities, micro-finance non-profit/for-profit affiliations, supporting organizations, and domestic/international affiliated non-profit/for-profit entities. She also assists clients in navigating and negotiating favorable settlements in employment tax and individual collection matters. She represents clients with unrelated business taxable income planning, compliance, and IRS examination issues and also advises individuals with regard to foreign and domestic tax issues.
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