The tangible property regulations (TPRs) are the biggest change in tax implementation and preparation for businesses since the 1986 Tax Reform Act. With this year's filing season, CPAs and businesses are now understanding the significant burden and work effort required to implement the TPRs – a.k.a. the "repair regs."
Many practitioners thought that after the release of IRS Rev. Proc. 2015-20 the TPRs could simply be ignored. But, now knowing that Rev. Proc. 2015-20 was not the total "relief" to the TPRs that many thought, "solutions" or "fixes" are needed to deal with their situations. Further, the TPRs cannot be ignored for practitioners due to the potential liability for missed taxpayer TPR deductions and lost opportunities.
REPAIR REGS RESOURCES:
The CCH® Tangible Property Regulations Certificate Program is designed to provide tax practitioners with the comprehensive knowledge needed to how to maximize the benefits of the repair regs and reduce or eliminate problems for your business or your clients. Advanced Issues includes 35 CPE Credit hours (which includes courses in the Fundamental Concepts) and two certificates of course completion.
CCH® Tangible Property Regulations Certificate Program: Fundamental Concepts reviews the history of the repair regs and why they were issued, as well as de minimis safe harbor and capital expenditures in general. It covers the key concepts of Unit of Property; the "RABI" rules (Restoration, Adaptation, Betterment, and Improvement); TPRs and GAAP, and why 3115s and 481(a)s are still Essential for Taxpayers with TPR Issues.
Includes the following courses:
- Tangible Property Regulations (TPRs): History, Background, Why Issued
- De MInimis Safe Harbor: Understand How to Apply and its Nuances
- Capital Expenditures in General
- Unit of Property: The Foundation for Applying the RABI Rules
- Repairs and Maintenance versus Capitalization: The RABI Rules
- Safe Harbor for Small Taxpayers and the Annual Elections, Summaries of Each and How to Do
- TPRs and GAAP Capitalization Policy Alternatives and Examples and Tie to the DMSH
- TPRs and RP 2015-20: Why 3115s and 481(a)s are Still Essential for Taxpayers with TPR Issues
- Depreciation Foundations Necessary to Apply the TPRs
- CCH Certificate Exam: Fundamental Concepts
Advanced Preparation: None
Prerequisites: None
Level: Basic
Prerequisites: None
Level: Basic
Credit Available / Units
Recommended CPE 20.00 CPE
Recommended CPE 20.00 CPE
Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.
Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.
CCH® Tangible Property Regulations Certificate Program: Advanced Issues reviews the more complex TPR issues including the material and supply rules of 1.162-4s, removal costs and its relationship to the RABI rules and PADs, and routine maintenance safe harbor. Common and required depreciation impermissible methods under the “use it or lose it” rules are explored, as are partial asset dispositions (PADs) and the depreciation foundation needed to apply the TPRs. Finally, the series will cover TPR logistics, 481(a) adjustments, and general asset account issues all taxpayers should know.
Includes the following courses:
- Tangible Property Regulations (TPRs): History, Background, Why Issued
- De MInimis Safe Harbor: Understand How to Apply and its Nuances
- Capital Expenditures in General
- Unit of Property: The Foundation for Applying the RABI Rules
- Repairs and Maintenance versus Capitalization: The RABI Rules
- Safe Harbor for Small Taxpayers and the Annual Elections, Summaries of Each and How to Do
- TPRs and GAAP Capitalization Policy Alternatives and Examples and Tie to the DMSH
- TPRs and RP 2015-20: Why 3115s and 481(a)s are Still Essential for Taxpayers with TPR Issues
- Depreciation Foundations Necessary to Apply the TPRs
- CCH Certificate Exam: Fundamental Concepts
- Materials and Supplies: Most Complicated TPR Issue
- Removal Costs and Its Relationship to the RABI Rules and PADs
- Routine Maintenance Safe Harbor
- The Use it or Lose it Rules of 1.1016-3 and Audit Protections Issues
- TPRs and PADs: Focus on Partial Asset and Prior Asset Dispositions
- TPR Logistics for CPA Firms and Companies
- TPRs and 481(a) Adjustments: Rules for Netting, Where to Report for Regular, AMT, and State
- TPRs: General Asset Accounts: Issues That All Taxpayers Should Know
- TPRs and Leasehold Improvements: Landlord and Tenant Concerns
- CCH Certificate Exam: Advanced Issues
Advanced Preparation: None
Prerequisites: Basic understanding of the tangible property regulations
Level: Intermediate
Prerequisites: Basic understanding of the tangible property regulations
Level: Intermediate
Credit Available / Units
Recommended CPE 35.00 CPE
Recommended CPE 35.00 CPE
Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.
Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.
Free CPE Course: Capital Gains and Losses: Taxation Introduction (registration required to receive credit)
Tax Briefings — including repair regulations coverage:
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