2020 Wisconsin Annual Income Tax Course Information
Registration for the 2020 Annual Income Tax Courses is open!
These are the topics covered in the National Income Tax Workbook 2020, the text for this course. (NOTE: Not all topics may be covered in the course. Further information will be made available later in the season.)
National Income Tax Workbook 2020 CHAPTERS:
Financial Distress. This chapter discusses the tax consequences of foreclosures, repossessions, and abandonments. It explains when cancellation of indebtedness must be included in income and when it can be excluded. This chapter provides comprehensive examples of the reduction in tax attributes that must occur when cancelled debt is excluded from income. This chapter also explains the bad debt deduction for business and non-business bad debts.
Ethics. This chapter discusses important issues that help tax practitioners comply with their ethical obligations. Topics include the following:
- Due diligence for a tax practitioner who helps a self-employed taxpayer claim the earned income credit, who prepares a return for a taxpayer who does not have records to substantiate material participation, or who performs valuations of a business
- Best practices in making and accepting referrals, including referrals from an online referral service
- When a tax practitioner can disclose information through the IRS Whistleblower Program
- Ethical considerations for tax practitioners using online faxing, digital storage and backups, and online portals
- Ten case studies that illustrate real-life ethical scenarios
Qualified Business Income Deduction Issues. This chapter discusses select issues related to the section 199A deduction. It explains how to calculate the qualified business income (QBI) deduction and the limitations on the deduction. This chapter also explains when trades or businesses can be aggregated, how to net and carryover QBI losses, and when a taxpayer can claim the QBI deduction for rental real estate income.
S Corporation Tax Issues. This chapter reviews important tax issues for S corporations, including the choice of entity rules and the S corporation election. It explains issues that the IRS has identified in its compliance campaigns, including S corporation distributions, the built-in-gains tax, and S corporation loss limitations. This chapter also includes an explanation of calculating basis and required basis reporting on Schedule E (Form 1040).
Agriculture and Natural Resource Issues. This chapter covers emerging topics that affect farmers and ranchers, including the following:
- Family members working for each other on farm or ranch, including the reinstated kiddie tax rules
- Farm or ranch employer-provided meals and lodging
- Special use valuation
- Depreciation of farm property
- Self-employment tax on agricultural activities
Business Issues. This chapter discusses some of the issues that tax practitioners encounter when they prepare returns for clients who operate a business. Topics include the following:
- Tax issues for a taxpayer engaged in a multi-level marketing business
- Opportunity zones
- Bonus depreciation
- New health reimbursement arrangements for small businesses
Individual Issues. This chapter covers several issues tax practitioners encounter when preparing individual income tax returns, including the following:
- Deductions for health insurance and other health expenses
- Casualty losses and gains
- Deductions, credits, and exclusions for education
- Who can claim the child tax credit, credit for other dependents, education credits, and other individual income tax credits
Business Entity Issues. The chapter reviews new partnership reporting requirements. It discusses the taxation of section 501(c)(7) social clubs and 501(c)(10) fraternal organizations, including eligibility for exemption, recordkeeping and reporting requirements, and income tax issues. This chapter also includes new rules, regulations, and filing requirements for nonprofit entities.
Investment and Retirement. This chapter covers investment and retirement tax planning issues, including the following:
- Required minimum distributions and the SECURE Act modification of the required distribution rules
- Planning for IRA beneficiary designations under the new rules
- Testamentary charitable remainder trusts
- Qualified charitable distributions
- Taxation of common investments such as interest-bearing bank accounts, certificates of deposit, and savings bonds
Trust and Estate Issues. This chapter discusses estate planning to preserve the increased exemption amount before it expires at the end of 2025. It reviews the definition of a gift, use of the annual gift tax exclusion, and when it is necessary to file a gift tax return. This chapter also explains how a tax practitioner can identify different types of trusts, and how those trusts report income tax to their beneficiaries.
IRS Issues. This chapter covers issues the IRS targets as key issues for practitioners. Topics include the following:
- Virtual currency
- IRS Withholding Estimator
- Taxation of the gig economy
- IRS information sources
New and Expiring Legislation. This chapter covers recently enacted tax legislation and procedures, including comprehensive coverage of the tax provisions in the Families First Coronavirus Response Act and the Coronavirus Aid, Relief, and Economic Security (CARES) Act. It is organized by subject to help participants quickly find topics of interest and includes the following:
- A summary of each provision
- Cross-references to other chapters to help participants find further information
- Effective dates to help participants keep track of when provisions begin and when they expire
- A table of tax provisions that expired or are set to expire
Rulings and Cases. This chapter summarizes selected rulings and cases that were issued from September 2019 through August 2020. It gives participants an update on issues that are being addressed by the IRS and the courts.
Tax Rates and Useful Tables. This chapter reports the tax rates, deduction limits, credit limits, and income thresholds and limits that change each year.
Locations and dates for 2020 courses
Dates: Monday October 26 – Tuesday October 27, 2020
Location: Holiday Inn Hotel and Convention Center
1001 Amber Ave.
Stevens Point, WI 54482
Dates: Monday November 2 – Tuesday November 3, 2020
Location: The Lismore Hotel
333 Gibson Street
Eau Claire, WI 54701
Dates: Monday November 16 – Tuesday November 17, 2020
Location: The Ingleside Hotel (formerly the Country Springs Hotel)
2810 Golf Road
Pewaukee, WI 53702
Dates: Tuesday November 17 – Wednesday November 18, 2020
Location: Radisson Inn
2040 Airport Drive
Green Bay, WI 54313
Dates: Monday November 30 – Tuesday December 1, 2020
Location: Madison Marriott West
1313 John Q Hammons Drive
Middleton, WI 53562
Dates: Wednesday December 2 – Thursday December 3, 2020
Location: Crowne Plaza Hotel
6401 South 13th Street
Milwaukee, WI 53221
Dates: Monday December 7 – Tuesday December 8, 2020
Location: Oshkosh Convention Center
1 North Main Street
Oshkosh, WI 54901
The following table lists the Continuing Education Credit hours applied for by granting authorities for the 2020 Wisconsin Annual Tax Course.
2020 Wisconsin Annual Income Tax Course Continuing Education Credits
Federal Tax Updates
Federal Tax Law
IRS Enrolled Agents
IRS Other Tax Return Preparer
Wisconsin Office of the Commissioner of Insurance
Wisconsin Continuing Legal Education
Certified Financial Planners
For IRS Credit:
We will report your continuing education credit hours to the IRS if you have provided us with your PTIN (Preparer Tax Identification Number). Credits are determined by your sign-in and sign-out for each segment of the course. Failure to sign in or out for a segment will result in no hours reported for that segment.
For Commissioner of Insurance Credit:
Attendees must sign in each day. This is a separate sign in from the IRS sign-in, and is available at the registration desk.You must attend the entire course to receive credit. The Commissioner of Insurance grants NO credit hours for partial attendance. We report your attendance.
1 NOTE: There will be a $20 fee collected at the Annual Income Tax Courses for attendees wanting the Insurance continuing education credits.
For Certified Financial Planners Credit:
Forms are available at the registration table. You must fill out the form and return it to the registration table. We will report your attendance.
For Wisconsin Continuing Legal Education Credit:
Attorneys are required to report their own attendance.
For Wisconsin CPA Credit:
CPA’s are required to report their own attendance.
Registration by Phone, Mail, or On-line
via mail; go to the Registration Information page.
by phone (or to receive a copy of the brochure); contact Tax Insight directly at: (phone) 608-831-1040.
on-line; click REGISTER NOW and follow instructions from there.
We cannot guarantee on-site registration.
Registration: 7:30 a.m. – 8:30 a.m.
Morning Session: 8:30 a.m. – 12 noon
Lunch provided: 12 noon – 1:00 p.m.
Afternoon Session: 1:00 p.m. – 5:00 p.m.
Sign in: 7:30 – 8:00
Morning Session: 8:00 a.m. – 12:00 noon
Lunch provided: 12:00 noon – 1:00 p.m.
Afternoon Session: 1:00 p.m. – 4:30 p.m.
Participants will receive the 2020 National Income Tax Workbook produced by the Land Grant University Tax Education Foundation, Inc., with contributions from tax experts from around the country. They will also receive access to the past few years’ materials via secure link to the cloud, a continental breakfast, refreshment breaks and lunch each day.
The fee for the 2-day course is $315 before October 9, 2020. It will increase to $345 on or after October 9, 2020.
Fees will include materials, refreshments, and meals.
NOTE: There will be a $20 fee collected at the Annual Income Tax Courses for attendees wanting the Insurance continuing education credits.
Ken Wundrow, EA, is returning for his 20th year of speaking at our Wisconsin Annual Income Tax Courses. Ken has served as a tax preparer/planner for 39 years. He retired from Mennenga Tax and Financial Service in Madison, Wisconsin, where he prepared more than 525 returns annually for his clients. He was also a Financial Advisor through HD Vest and served as the Financial Manager for Mennenga Tax and Financial Service. From his 25 years in public education, he is an excellent teacher who draws on his practical tax and financial experience to relate to attendees at our courses.
Speaking for her fourth year, Kristine Tidgren is an attorney and the assistant director for the Center for Agricultural Law & Taxation at Iowa State University, where she speaks and writes frequently on agricultural law and tax matters. Her writing includes an online blog and tax school course materials, including sections of the National Income Tax Workbook. Kristine enjoys researching and analyzing complex tax issues. She speaks to a number of groups throughout the year regarding current tax topics and is a regular instructor for Iowa’s Federal Income Tax Schools. Kristine is the Director of Wisconsin Annual Tax Courses by Iowa State University.
Steve Broyles is returning for his second year of speaking, bringing an abundance of experience, including 26+ years in the accounting field. Steve holds a Bachelor of Science degree in Accounting, an MBA, CPA, and is a Certified Forensic Accountant, Certified Fraud Examiner, and QuickBooks ProAdvisor. Steve started CPA practices, including Broyles & Company CPA’s, LLC, which he operated for 20+ years. Steve joined Apel Associates in September of 2019 as Director of Tax & Business Consulting. He brings practical experience and enthusiasm to his teaching.
The Internal Revenue Service speaker is to be determined.
The Wisconsin Department of Revenue speakers are to be determined.
Please make your own reservations directly with the hotel. We reserved a block of rooms until four weeks before each course. After that time, rooms are available on a first-request basis. When making arrangements, indicate you are attending the Wisconsin Annual Tax Course to qualify for a special rate.
For Oshkosh, contact the Oshkosh Premier Waterfront Hotel, 1 North Main St. 855-230-1900
Inclement Weather Policy
In case of inclement weather (determined by the Director of the Wisconsin Annual Tax Courses) that does not cause cancellation of the course, you may choose one of the following options:
1) receive a partial refund and have materials mailed to you or
2) transfer to another workshop location on a space available basis.
If a course is cancelled by the Director of the Wisconsin Annual Tax Courses due to inclement weather, you may choose one of the following options.
1) receive a partial refund and have materials mailed to you or
2) receive a full refund
If you need special accommodations or have special requests, please make note on your registration form.
Tax Deduction for Educational Expenses
Treasury Regulation §1.162-5 permits an income tax deduction for educational expenses undertaken to: (1) maintain or improve skills in one’s employment or other trade or business, or (2) meet express requirements of an employer or a law imposed as a condition for retention of employment, job status, or rate of compensation.
We will send a confirmation letter to you by email from our Wisconsin office when we process your registration. It will include details on the dates, locations, and times of the course. If you do not receive a confirmation letter after two weeks, contact Tax Insight at 608 831-1040 (or email: [email protected]) to confirm your registration. Please bring the confirmation letter to your tax course in case there is a question about your registration.
NEW CANCELLATION POLICY: Cancellations received fewer than 10 business days prior to the seminar date will be refunded one-half of the registration fee. No refunds will be available or transferrable 24 hours prior to the start of the seminar. Course materials will be available upon request in consideration of fees paid. Inclement weather will be taken into consideration.
You may transfer to a different location up to 7 days before a course. There is no transfer fee.
There is no charge to substitute another person for an attendee who cannot attend, preferably before the day of the course.
You may register on-site if space and materials are available. Please bring a completed registration form with you to speed up the registration process.
We will e-mail a Completion Certificate showing the hours you attended to the e-mail address you provide on your registration form. This generally occurs within 10 business days of the course conclusion.