Dates and location
Dates and location
This course has shifted online into two, half-day sessions.
- November 7, 2023 @1:00pm - 5:00pm
- November 8, 2023 @1:00pm - 5:00pm
This 2023 U.S. Income Tax Updates course will provide you with a comprehensive overview of the key changes and updates in the U.S. tax system for 2023. The aim is to help you stay informed and prepared when it comes to income tax calculations and reporting requirements.
This course will also examine various penalty forms in depth and their implications for noncompliance. Its crucial to understand these forms and how they can potentially affect your business or personal finances.
- Overview of key changes and updates in the U.S. tax system for 2023.
- Analysing recent legislative updates and their impact on income tax requirements.
- Refresher from TCJA on updates regarding R&D expenses, 163(j) interest deductibility, Section 179 depreciation rules, Alternative Minimum Tax (AMT), and individual and corporate tax rates.
- An in-depth examination and implications of various penalty forms.
- Overview of filing requirements, deadlines, and extensions for individual and corporate tax returns.
- Examining penalties for non-compliance, understanding penalty calculations, and mitigating penalty risks.
By the end of this course, participants will be able to:
- Understand the key changes and updates in the U.S. tax system for 2023.
- Gain an in-depth understanding of penalty forms, including their types and implications for non-compliance.
- Understand the changes in deductions and tax credits available to taxpayers in 2023.
- Get an overview of updated filing requirements, deadlines, and extensions for both individual and corporate tax returns.
- Understand the consequences of non-compliance, including penalties, and learn how to calculate penalties accurately.
WHO WILL BENEFIT:
- CPAs and tax professionals working in public accounting firms.
- The roles of Controllers, CFOs, Finance Managers, and Financial Reporting Directors within multinational organizations that have a presence in the US.
- Professionals seeking to enhance their knowledge and skills in advanced taxation and accounting for US taxes.
How to Access The Course
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
Electronic material can be accessed one week prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Haroon Khan is an experienced tax professional, having served over 14 years at the world’s leading accounting firms, including the Big 4, as Senior Tax Manager and Tax Partner. Haroon obtained his Bachelor of Business Administration degree from the University of Toronto before qualifying as a CPA, CA in Canada and as a U.S. CPA in the State of Illinois. He has also completed all three parts of CPA Canada’s In-Depth Tax Program.
Babar Khan is an experienced cross-border tax professional with over a decade of experience in US & Canadian tax compliance and advisory work. He specializes in taxation for Expatriates, Business Travelers and High Net Worth Individuals. This primarily includes US and Canadian taxes (Resident, Non-Resident, Dual Status and US State Returns), foreign asset/informational reporting (3520s, 5471s, PFICs, FBARs, T1135s etc.), real estate related compliance (8288B, T2062 etc.), voluntary disclosures, dealing with Canada Revenue Agency and Internal Revenue Service on taxpayers' behalf, and consulting on departure/arrival tax issues on both sides of the border.