Tax School Information
The MSU Income Tax Seminars are
for people who prepare income tax
returns for others. Seminars are
normally taught live in a group setting
at the intermediate level. Enrollment
at each location is limited to space
available. One-day and additional
courses may have different schedules,
materials and instructors. See
individual course descriptions for
details.
Preregistration is needed for all
courses to plan for materials, space
and lunch (if included). Register
online with a credit card or by mail
with a check.
Materials for the normal, fall two-day
tax seminars and the one-day tax
seminars in January include the 700page 2015 National Income Tax
Workbook, Michigan Department of
Treasury 2015 Tax Text and a 2016
Master Tax Guide by CCH.
Instructors this fall for the two-day
seminars will be Carol Wright, Trish
Ugorowski, Sue Scioli and Mary Jane
Hourani.
Refunds (less a $35 administrative
fee) may be made if we receive
cancellation notice at least three
business days before the beginning of
the school for which you are
registered. Cancellation fee is less for
shorter seminars.
Room temperatures can vary
considerably in the fall and early
winter. Consider wearing
comfortable, layered clothing.
Direct questions about class content
to Larry Borton at bortonl@msu.edu
Partnership Seminars
Two identical 2-day sessions in
September (Sterling Heights) or
October (Grand Rapids).
This course reviews partnership
taxation or an LLC taxed as a
partnership. Instructors will be Carol
Wright and Trish Ugorowski. This is a
good review of partnership taxation
for those who prepare partnership
returns or for those who want to
want to understand more about
partnerships and haven’t filled out
many partnership forms. The first day
will be basic tax for partners and how
a partnership return goes together.
The second day will involve advanced
issues including distributions and
liquidations. We will also discuss
current rulings and cases.
Topics:
DAY 1
- Partner’s reporting of form K-1
income and expenses (required
additional information)
- Formation and partner’s basis
- Operation and partnership basis
- Sale of the entire interest in the
partnership
DAY 2
- Sale of the one partner’s interest to
remaining partners
- Applying the partnership agreement
- Transfer of partnership interest to
family members
- Termination or liquidation of a
partnership including distribution
Instructional materials will be Power
Point slides with examples and short
problems in a 3-ring binder along with
our text which is at an intermediate
level. We will discuss IRS publications
including the Partnership Audit
Technique Guide, 1065 instructions &
forms, and partnership publications.
We will review web resources and
related text books.
16 hours CPE for two days. Includes
morning coffee, lunch and afternoon
refreshments.
Instruction is from 8:30 am to 4:30
pm. Registration fee: $240. If
payment is received less than 10 days
before the class, the price increases
to $260.
Dates and Locations
Sep 16-17 (Wed -Thurs)
Sterling Heights—American Polish
Century Club 33204 Maple Lane
(North of 14 Mile Rd.)
Oct 19-20 (Mon-Tues)
Grand Rapids (Walker)—English Hills
1200 4 Mile Rd. NW
___________________________
MSU Income Tax School
Morrill Hall of Agriculture
446 W Circle Dr Rm 414
East Lansing, MI 48824
Phone: 517-432-9803
Fax: 517-432-9805
E-mail: itschool@msu.edu
Web: http://taxschool.canr.msu.edu
The programs in this brochure qualify
for IRS continuing education for
Enrolled Agents (EA). Currently, the
IRS does NOT require continuing
education for any other tax return
preparer or PTIN holder. Continuing
education credits will be posted to
PTIN accounts for any participant who
provides their PTIN, regardless of
credentials.
Similarly, seminars in this brochure
(except for Basic Tax) qualify as
taxation or ethics for Michigan CPAs.
Two-Day and One-Day Income Tax Seminars
Two-Day Sessions—16
hours of CPE credit.
Registration and pick-up of materials
will begin at 7:45 am. Instruction runs
from 8:25 am to 4:35 pm on both
days. Refreshment breaks and
lunches are included.
Registration fee: $300 if received 14
days before class start, $330 if
received later. 16 hours CPE including
3 hours federal tax law update, and 2
hours of ethics.
Dates and Locations: 20 sessions some cities have more than one 2-day
session: Lansing area, Traverse City,
Grand Rapids, Kalamazoo, Livonia,
Sterling Heights.
Nov 4-5 (Wed. – Thurs.)
Okemos—Holiday Inn Express
2209 University Park Dr.
(Exit 110 off I-96)
Nov 9-10 (Mon.--Tues.)
Traverse City—Hagerty Center, NMC
Great Lakes Campus, 715 East Front
Street
Nov 10-11 (Tues.—Wed.)
Gaylord—Otsego Club, 696 M-32 East
(I-75 exit 282 then east on M-32)
Nov 12-13 (Thur.—Fri.)
Marquette—Holiday Inn, 1951 U.S.—
41 West
Nov 16-17 (Mon.-Tues.)
Frankenmuth—Bavarian Inn Lodge
One Covered Bridge Lane (rooms
available)
Nov 16-17 (Mon.—Tues.)
Lansing—Lansing Community College
West. (I-496, south on Creyts, east on
Mt Hope, north on Sanders) 5708
Cornerstone Drive
(continued in next column)
Nov 19-20 (Thu.—Fri.)
Sterling Heights— American Polish
Century Club 33204 Maple Lane
(North of 14 Mile Rd.)
Nov 19-20 (Thu.--Fri.)
Livonia—Holiday Inn, 17123 Laurel
Park Dr. N (East of I-275 on 6 Mile Rd)
Nov 23-24 (Mon. –Tues.)
Grand Rapids—Prince Conference
Center, Calvin College
1800 East Beltline SE
Nov 23-24 (Mon.—Tues.)
Kalamazoo—Holiday Inn West
th
2747 S 11 St (West of U.S. 31, north
of I-94, off Stadium Dr.)
Nov 30-Dec 1 (Mon.--Tues.)
Traverse City— Hagerty Center, NMC
Great Lakes Campus, 715 East Front
Street
Dec 3-4 (Thur.—Fri.)
Grand Rapids (Walker) —English Hills
1200 4 Mile Rd. NW
Dec 3-4 (Thur.—Fri.)
Kalamazoo—Holiday Inn West
th
2747 S 11 St (West of U.S. 31, north
of I-94, off Stadium Dr.)
Dec 7-8 (Mon.—Tues.)
Sterling Heights—American Polish
Century Club 33204 Maple Lane
(North of 14 Mile Rd.)
Dec 7-8 (Mon.-Tues.)
Flint—Genesys Conference and
Banquet Center, 801 Health Park
Blvd., Grand Blanc
Dec 10-11 (Thur.--Fri.)
Livonia—Holiday Inn, 17123 Laurel
Park Dr. N (East of I-275 on 6 Mile Rd)
Dec 10-11 (Thurs.—Fri.)
Troy—Somerset Inn (next to mall)
2601 West Big Beaver Rd. (W. of I-75)
(continued in next column)
Dec 14-15 (Mon.—Tues.)
Lansing-Ramada Conference Center,
7501 W Saginaw Hwy (At I-96/I-69)
Dec 14-15 (Mon.—Tues.)
Saginaw-Horizons Conference Center,
6200 State St
Dec 16-17 (Wed.-Thurs..)
Farmington Hills—Glen Oak Country
Club, 30500 W 13 Mile Rd
One-Day Sessions—8
hours of CPE credit
Registration and pick-up of materials
will begin at 8:00 am. Instruction is
from 8:25 am to 4:35 pm. Lunch is
included. Morning coffee and rolls
are provided.
Registration fee: $165 if received by
December 28, 2015; $190 if received
later. One day sessions are a shorter
version of the two-day schools. They
include a review of new legislation
plus selected abbreviated topics from
the two-day seminars.
8 hours CPE including 3 hours of
federal tax law update. No ethics
hours.
Dates and Locations
January 6, 2016 (Wednesday)
Sterling Heights— American Polish
Century Club, 33204 Maple Lane
(North of 14 Mile Rd.)
January 7, 2016 (Thursday)
Lansing—Lansing Community College
West. (I-496, south on Creyts, east on
Mt Hope, north on Sanders) 5708
Cornerstone Drive
Farm Seminars
Final Changes Seminars
Half day sessions—4 hours of CPE
credit. Sessions open at 8:00 am for
registration and materials.
Instruction from 8:30 am to noon.
Note on registration form if you will
stay for lunch (no extra charge).
Registration fee: $90 if received 14
days ahead; $105 if received later.
Half day sessions—3 hours of CE
credit. Sessions open at 8:00 am for
registration and pick up of materials.
Instruction from 9:00 am to Noon.
Morning coffee and rolls, and lunch
are included.
Dates and Locations
This will emphasize federal changes
and clarifications since the fall
seminars. The primary instructor will
be Carol Wright.
It is considered a supplement to the
two-day programs, not a substitute.
November 11 (Wednesday)
Escanaba—Delta County Extension
Office, 2840 College Avenue
November 18 (Wednesday)
Clare—Doherty Hotel
604 North McEwan
November 20 (Friday)
Grand Rapids—Conference Centers at
WMU, 2333 E. Beltline Ave. SE (North
of Woodland Mall)
November 24 (Tuesday)
Frankenmuth—Bavarian Inn Lodge
One Covered Bridge Lane
November 25(Wednesday)
Kalamazoo—Holiday Inn West
th
2747 S 11 St (West of U.S. 31, north
of I-94, off Stadium Dr.)
December 1 (Tuesday)
East Lansing—MSU Kellogg Center
Harrison Rd. at Michigan Ave
December 4 (Friday)
Cadillac—Cadillac Sands Resort
(M-55 at M-115)
Farm tax issues including:
•
•
•
•
•
•
•
•
•
Livestock transactions
CCC loans
Farmer net investment
income tax
Inherited property
Farm transfers
Payments to landowners
Oil and gas issues
Farm depreciation
Rulings and cases
Registration fee: $75 if received by
January 5, 2016; $100 if later.
Dates and Locations
January 13, 2016 (Wednesday)
Lansing—Lansing Community College
West 5708 Cornerstone Drive.
January 14, 2016 (Thursday)
Livonia Holiday Inn, 17123 Laurel Park
Dr. N (East of I-275 on 6 Mile Rd)
Basic Income Tax Seminar
Full day session (no CPE because this
is an introductory course).
Registration and pickup of materials
at 8 a.m. Instruction from 8:30 a.m.
to 4:30 p.m. Lunch is not included.
Fee is $85 if registered by January 5,
2016. $95 after that.
January 8, 2016 (Thursday).
Lansing Community College, West.
5708 Cornerstone Drive.
This is a full day emphasizing
individual income taxes and the
federal Form 1040.
The primary instructor will be Mary
Jane Hourani. The materials will be
IRS forms and publications.
Annual Federal Tax
Refresher Course
An optional, voluntary course for
unenrolled tax return preparers who
wish to increase their knowledge and
competency through continuing
education. 6 hours of instruction plus
a 100 question test. Passing of the
test (written by MSU faculty), getting
the correct continuing education (10
hours federal tax and 2 hours ethics in
2015 for the 2016 filing season), and
signing a form about circular 230
allows issuance of a certificate of
completion for the Annual Filing
Season Program.
Registration fee is $120, includes
lunch; $140 if received less than 14
days before class. The course opens
at 8:00 a.m. Instruction begins at
8:30a.m. and lasts until 3:00 p.m.
(except Gaylord is 8:00 to 2:30) This
will be followed by the test. If you
passed the RTRP test, do not take this
course but do get your 15 CE hours.
Sep 22 (Tues) Marquette
Ramada, 418 W Washington St
Sep 24 (Thurs) Gaylord
University Center, 80 Livingston Rd
Sep 25 (Fri) Frankenmuth Bavarian
Inn Restaurant (not lodge) 718 S Main
Oct 5 (Mon) Sterling Heights. Century
Club 33204 Maple Lane (N of 14 Mile)
Oct 7 (Wed) Grand Rapids (Walker)
English Hills. 1200 4 Mile Rd. NW
Dec 21 (Mon) Lansing Community
College West: 5708 Cornerstone Drive
(west side of Lansing, not downtown)
2015 ITS Registration
Name (please print clearly)
Badge Name (if different from above)
Address
City
Phone
____
PTIN
State
E-mail
Zip
Two-day Income Tax Seminars--$300 (16 Continuing Education credits, includes lunch). $330 if
registration received less than fourteen days before class. Classes from Nov 4-5 to Dec 16-17.
City
Date
$
Partnership Seminar--$240 (16 CPE hours for the two days, includes lunch; 8:30 a.m. - 4:30 p.m.)
Registration fee: $260 if registration is received less than 10 days before the class meets
Sterling Heights, Century Club, 33204 Maple Lane, September 16-17
Grand Rapids, English Hills, 1200 4 Mile Rd, NW October 19-20
$
Farm Income Tax Seminars--$90 (4 CE hours). $105 if registration is less than 14 days before class
City
Date
$
For the Farm Seminars only:
will stay for lunch
will not stay for lunch
Annual Federal Tax Refresher Course--$120 (includes lunch). $140 if registration is received less than
14 days before class. Classes from September 22 to December 21.
City
Date
$
One-day Income Tax --$165 (8 CE hours, includes lunch). $190 if registration received after Dec 28.
Sterling Heights. Wednesday, January 6, 2016
Lansing Community College West. Thursday, January 7, 2016
$
Final Changes Seminar--$75 (3 CE hours, includes lunch). $100 if registration received after Jan 4,
2016.
Lansing Community College West. Wednesday, January 13, 2016
Livonia Holiday Inn, Thursday, January 14, 2016
$
Basic Tax Preparation--$85 (no lunch). $95 if registration received after January 5, 2016.
Lansing Community College West. Thursday, January 8, 2016
$
TOTAL:
$
Online Registration with credit card is available from the website http://taxschool.canr.msu.edu
You may also pay by check (payable to Michigan State University)
Mail to:
MSU Income Tax School, Morrill Hall of Agriculture, 446 W Circle Dr Rm 414, East Lansing, MI 48824
Fax: (517)432-9805; Phone: (517)432-9803; E-mail: itschool@msu.edu
2015 MSU Income Tax School
Two-Day Income Tax Seminars
One-Day Income Tax Seminars
November 4 to December 17
16 hours of Certified Professional Education Credit,
including 3 hours of federal tax law update and
2 hours of ethics
January 6, 2016 – Sterling Heights
January 7, 2016 – Lansing
8 hours of Certified Professional
Education credit including 3 hours of
federal tax law update
Additional Seminars:
Partnership Taxation (16 hrs. CE): September 16-17 in Sterling Heights; October 19-20 in Grand Rapids
Farm Income Tax (4 hrs. CE): November 11 to December 4 (7 locations)
Annual Federal Tax Refresher Course: September, October and December
Final Changes: (supplement to the two-day) (3 hrs. CE): Jan 13, 2016 in Lansing; Jan 14 in Livonia
Basic Tax Preparation: January 8, 2016 in Lansing
Except for the Basic Tax Preparation, our seminars qualify as Group Programs on taxation and ethics for Michigan CPAs and as
federal taxation, federal update and ethics for IRS Enrolled Agents and the Annual filing Season Program.
Michigan State University is committed to providing equal opportunity for participation in all programs, services and activities. Disability accommodations may be
requested two weeks before a class to ensure sufficient time to make arrangements. Requests received after this date will be met when possible.
MSU Income Tax School
Morrill Hall of Agriculture
446 W Circle Dr Rm 414
East Lansing MI 48824
Topics in the 2015 National Income Tax Workbook
The following chapters are planned.
Order will change and some topics may
be moved between chapters.
New Legislation -- covers tax legislation that was
enacted late in 2014 and in 2015.
Rulings and Cases--summarizes selected rulings and
cases that were issued from September 2014 through
August 2015. They will be discussed as time permits.
Affordable Care Act--emphasizes the employer
mandate but also updates the individual mandate
discussion.
Repair Regulations—includes guidance on accounting
policies and filing Form 3115 .
Business Issues
• Net investment income tax grouping
considerations
• Sale of § 1250 property
• Per diem rules for travel expenses
• Controlled groups
Individual Issues
• Mortgage interest
• Schedule K-1 (Form 1041)
• Gift tax returns
• Applicable federal interest rates for gifts and
loans
• Innocent spouse rules
• Virtual currencies
• Basis and holding period for transferred assets
IRS Issues
• IRS’s “Dirty Dozen” list of tax scams
• Form 1023-EZ, Streamlined Application for
Recognition of Exemption Under Section
501(c)(3) of the Internal Revenue Code
• Options for disclosing foreign financial assets
• Trust fund recovery penalty
• Taxpayer Advocate Service
Ethics--a comparison of ethics and religions provides a
basis for discussing the case studies presented in this
chapter.
Tax Practice--issues encountered by tax preparers such
as an IRS examination of a return and power of attorney
forms.
Retirement--common retirement tax issues including:
• Form 1099-R, Distributions from Pensions,
Annuities, Retirement or Profit-Sharing Plans,
IRAs, Insurance Contracts, etc.
• Sale of business followed by retirement
• Non-qualified annuities
• Checklist for retirement planning tax issues
Business Entity Issues--for clients who own a small
business.
• Selection of business entity
• Effect of entity selection on taxability of
cancellation of debt income
• Allocation of partnership liabilities among
partners or LLC members
Trade or Business--discusses cases that define activities
that are included in a trade or business and the
consequence of not being a trade or business. The rules
are illustrated by applying them to several common
small businesses.
Net Operating Losses
• Death of a spouse with an NOL from a joint
return
• Carryover/back planning
• Election out of carryback: effect of low or high
taxable income in future years
Tax Accounting Issues
This chapter describes the timing of inclusion of income
and expenses under the cash and accrual methods, the
requirements for selecting an overall tax accounting
method, and whether the method selected for tax
reporting has to be the same method that the taxpayer
uses for bookkeeping. Other topics include:
• Inventory accounting
• Uniform capitalization (UNICAP)
• Deferred recognition of income on installment
sales
• Reporting and withholding on employee tips
• Procedures for changing tax accounting methods
Provisions Limited by Amount of Income
• IRA contributions
• Student loan interest deduction
• U.S. savings bond interest exclusion
• Itemized deductions
Tax Rates and Useful Tables