NOL Treatment on Federal Corporate and Individual Tax Returns: Challenges for Preparers

Navigating Computation, Sect. 382 Limitation, Carryback/Carryforward and Other Rules

A live 110-minute CPE webinar with interactive Q&A


Tuesday, June 6, 2017 (in 11 days)
(Alert: Event date has changed from 6/7/2017!)
1:00pm-2:50pm EDT, 10:00am-11:50am PDT


This webinar will provide tax preparers with a thorough and practical guide to the reporting challenges and planning opportunities involved in net operating loss (NOL) calculation for individual and corporate federal tax returns.

Description

Calculation and reporting of net operating losses (NOLs) pose a number of challenging issues for tax return preparers, on both individual and corporate federal returns. While an NOL can be a valuable tax asset for a business, tax advisers should have a thorough grasp of the rules governing the calculation of allowable NOL carry-backs and carry-forwards.

Businesses face several restrictions in computing NOLs. For example, Section 199 deductions are disallowed for purposes of NOL inclusion. Additionally, ownership changes made under Section 382 impose special restrictions on the use of the NOL as a tax attribute. Special rules also apply to allocating NOL shares to owners of pass-through entities.

Individual taxpayers also face a host of limitations in calculating and using NOLs over and above net capital loss limitations. Tax advisers should be aware of the individual limitations in both tax planning and compliance to avoid wasting a critical tax asset.

Listen as our experienced panel of tax advisers provides a thorough and practical guide to mastering NOL calculations and planning opportunities.

Outline

  1. Special issues with NOLs for corporate return taxpayers
  2. Carryback and carryforward rules
  3. Sect. 382 ownership change restrictions and limitations
  4. Restrictions and allowances in calculating and using NOLs for individual taxpayers
  5. Pass-through allocation questions

Benefits

The panel will address these and other problematic aspects of NOLs:

  • Proper calculation of NOLs, including allowable deductions
  • Carryback and carryforward terms
  • When Sect. 382 change in ownership limitations apply and under what terms
  • Challenges in allocating NOLs to shareholders of pass-through entities

Learning Objectives

After completing this course, you will be able to:

  • Identify proper calculation of NOLs, including allowable deductions
  • Discern carryback and carryforward terms
  • Determine when Sect. 382 limitations apply and under what terms

Faculty

Amy Chapman, Senior Manager
KPMG, Washington, D.C.

Ms. Chapman works in the firm’s Washington National Tax practice on corporate taxation matters including memoranda involving Sect. 382 loss limitation rules, complex business transactions and other C corporation topics.

John R. Dundon, II, EA, President
Taxpayer Advocacy Services, Englewood, Colo.

Mr. Dundon is a tax ​p​ractitioner who focuses on working with individual taxpayers​ regarding ​complex tax issues. He is an an IRS ​e​xamination​, collection​, appeals ​s​pecialist​. He assign​s​ tax based tangible book value for small businesses, LLC’s, Sub-Chapter S corporations, and partnerships. He ​write​s​ and speak​s​ in depth about a wide range of tax topics. ​

Timothy M. Nichols, Esq.
KPMG, Washington, D.C.

Mr. Nichols is a manager in KPMG LLP’s Washington National Tax office corporate tax group. His practice focuses on a variety of corporate and other tax matters, including tax-free reorganizations, taxable acquisitions, spin-offs, bankruptcy and other restructuring transactions, and consolidated group issues. Mr. Nichols is also an attorney.


Registration per Person for Live Event

Additional lines for this conference can be purchased at 25% off. For orders of five or more lines, further discounts will apply and will be automatically reflected in the cart.

Live Webinar $147.00

Live Webinar & CPE Processing $182.00


CPE per Person on Live Event

Continuing Professional Education credit processing is available for an additional fee. CPE processing must be ordered prior to the event. To qualify for CPE you may not listen via the telephone.

This program is eligible for 2.0 CPE credits.

  • Field of Study: Taxes.
  • Level of Knowledge: Intermediate.
  • Advance Preparation: None.
  • Teaching Method: Seminar/Lecture.
  • Delivery Method: Group-Internet (via computer).
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of verification codes announced throughout the presentation.
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization, preparing complex tax forms and schedules; supervisory authority over other preparers/accountants. Foundational knowledge and understanding of calculating and reporting net operating losses for individuals and businesses; familiarity with Sec. 382 limitations and alternative minimum tax.

NOTE: CPE credit processing for all attendees must be ordered by 2pm Eastern the day of the program to receive a Certificate of Attendance within 24 hours.


Recordings

Recorded Event

Includes full event recording plus handouts (available after live webinar).

Note: Self-study CPE and EA credits are not offered on recorded events.

Recorded Webinar Download $147.00
Available 48 hours after the live event

How does this work?

Recorded Audio Download (MP3) $147.00
Available 24 hours after the live event

How does this work?

DVD (Slide Presentation with Audio) $147.00 plus $9.45 S&H
Available ten business days after the live event

How does this work?


Registration Plus Recorded Event

Best value!

Live Webinar & Webinar Download $194.00

Recorded Webinar Download Only $47.00 with Registration/Webinar Combo

Live Webinar & Audio Download $194.00

Recorded Audio Download (MP3) Only $47.00 with Registration/MP3 Combo

Live Webinar & DVD $194.00 plus $9.45 S&H

DVD (Slide Presentation with Audio) Only $47.00 with Registration/DVD Combo


NASBA CPE Sponsor

National Registry of CPE Sponsors

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

or call 1-800-926-7926

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CPE Credit

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Customer Reviews

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Jackie Meyer

Sample and Bailey

I liked the fact that there was more than one person presenting the material. It's nice to hear multiple perspectives.

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Cover & Rossiter

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Joanna Johnston

Savas Greene & Company

I appreciated the flow of the information offered and the ease at which I could follow the handouts.

Larry Bruck

WISS & Company

Excellent seminar! It was efficient and the important topics were covered at just the right pace; no time was wasted covering information that the participants already knew.

Rhonda G. Williams, CPA

Barraclough & Associates

or call 1-800-926-7926

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