Tax Institute

Form 1040 Workshop

in coordination with the Annual Federal and State Tax Institute

IRS approved for CEU's

Programs include continental breakfast, breaks and lunch

Program Cost: $217 (Class size is limited)

Even the most seasoned tax professional will benefit from reviewing the basic elements of this important form.

The 1040 is the most important form in the IRS inventory and all tax professionals should constantly review the form for any changes and also to refresh the basics. Mark Burch and Will Wallace will guise you step by step and provide case studies and context on various items throughout the 1040.

Our 1040 Workshop is exactly what you need for your office.

This workshop will train your office staff and seasonal tax preparers to prepare taxes for individuals and small businesses covering Federal and Nebraska State Taxation.

This is a traditional instructor-led classroom course taught by seasoned tax professional:
Mark Burch, Enrolled Agent
Will Wallace, Enrolled Agent

Two Dates / Two Locations

Important: Choice of Locations - We are offering the 1040 Workshop on two separate dates and locations.

When: January 5, 2018 – Friday - Lincoln
Where: College of Business (on campus) Howard L. Hawks Hall, 14th and Vine Streets
Time: 8:30 am check in and class begins at 9:00 am and ends at 4:30 pm
Food: Continental breakfast at 8:00 am, morning and afternoon breaks and Noon Lunch includes
Parking: Complimentary Parking in Enclosed UNL
Registration Cost: $217.00

When: January 22, 2018 – Monday – Kearney
Where: Kearney, NE – Holiday In Convention Center, 110 S. Ave
Time: 8:30 am check in and class begins at 9:00 am and ends at 4:30 pm
Food: Continental breakfast at 8:00 am, morning and afternoon breaks and Noon Lunch includes
Registration Cost: $217.00

The Form 1040 is the starting form for personal/individual Federal income tax returns filed with the IRS in the United States. Form 1040 consists of two full pages, plus up to 11 attachments called "schedules".

The Form 1040 Workshop is designed for persons with limited experience in the tax field or those with experience who wish to get a more thorough training in all pertinent phases of federal income tax preparation for individuals.

Practical applications and illustrations are used to systematically explore tax deferral, reduction, and elimination opportunities accompanying return preparation.

Upon successful completion of the Form 1040 Workshop, practitioner will be able to:
• Use knowledge of the I.R.S. tax code to prepare individual federal tax returns.
• Identify and apply appropriate exclusions on an individual tax return.
• Identify and apply savings determined by legitimate tax deductions, credits, and depreciation.
• Understand and apply knowledge to calculate tax owed on individual returns.
• Income, such as employee compensation, interest, dividends, alimony, retirement distributions, unemployment compensation, Social Security benefits, and other income.
• Capital gains and losses.
• Adjustments to income, such as moving expenses, the IRA deduction, and education benefits.

Questions: contact Virginia via email or phone at 402-472-9334 or 402-525-7676.

63rd Annual Federal and State Income Tax Institute

The Tax Institute is designed to provide up-to-date training on current tax laws and regulations. The two-day program is held in seven convenient locations throughout Nebraska. The program, which is revised and updated annually, provides an in-depth review of a number of tax areas and coverage of newly enacted laws, regulations, and procedures. Practical information for filing individual and small business tax returns is stressed. At each location, two hours of ethics is offered.

Nebraska Tax Form

We provide continuing professional education credits for the following:
• IRS provider number #NQ6J1 for enrolled agents, PTINs, AFSP
• Nebraska State Board of Public Accountancy approved provider
• CFP® Board approved provider
• Nebraska Department of Insurance approved provider
• Nebraska Supreme Court MCLE Commission for mandatory continuing legal education credits for lawyers approved provider
• University of Nebraska–Lincoln

Book Information

Participants receive the QuickFinder and 2017 RIA Federal Tax Handbook as well as a print and CD version of the 2017 National Income Tax Workbook. The tax workbook, published by the Land Grant University Tax Education Foundation, is rewritten annually. The tax workbook is designed to update tax professionals on recent changes in areas related to income tax law and tax practice.

Registration and Fee Information

Early Bird Registration - $399.00

After October 16, 2017 - $449.00

Registration fees include all materials, a networking lunch and refreshment breaks.

We provide continuing professional education credits for the following:
• IRS provider number #NQ6J1 for Enrolled Agents and PTINs
• Nebraska State Board of Public Accountancy approved provider
• CFP® Board approved provider
• Nebraska Department of Insurance approved provider
• Nebraska Supreme Court MCLE Commission for Mandatory Continuing Legal Education credits for Lawyers approved provider

At each site 2 hours of Ethics will be offered

We continue to honor the following discounts. Prior to registration, please contact Virginia (Ginger) Uzendoski for your discount code at 402-472-9334 or


Three Ways to Register

1. Register online with credit card payment.

2. Complete and submit via email the PDF registration form.
Phone: 402-472-9334

3. Complete and submit via postal mail the PDF registration form.

Tax Institute
730 N 14 St 201 F
Lincoln, NE 68588-0467

City Dates Location
Scottsbluff Monday, November 6 - Tuesday, November 7 Hampton Inn Scottsbluff Conference Center, 301 West Highway 26
North Platte Thursday, November 9 – Friday, November 10 The Best Western Plus 3201 South Jeffers Street
Kearney Monday, November 13 – Tuesday, November 14 Holiday Inn Convention Center, 110 S. 2nd Ave.
Grand Island Thursday, November 16 – Friday, November 17 Fonner Park Bosselman Conference Center, 700 E. Stolley Park Rd.
Norfolk Monday, November 20 – Tuesday, November 21 Divots Conference Center, 4200 W. Norfolk Ave.
Omaha/Bellevue Monday, December 4 – Tuesday, December 5 Beardmore Event Center, 3730 Raynor Parkway
Lincoln Monday, December 11 – Tuesday, December 12 The Graduate, 141 N. 9th Street

Agenda / Topics

a. Oil and gas working interest and royalty interest
b. Farm income averaging

a. Partnership audit rules. The IRS has issued proposed regulations on implementation a provision of the Bipartisan Budget Act of 2015 that repeals the current rules governing partnership audits and replaces them with a new centralized partnership audit regime that generally assesses and collects tax at the partnership level.
b. Partnership liquidations
c. Redemption rules for the shareholders and the corporation
d. Corporate distributions characterized as compensation
e. LLC reorganizations (e.g. single member to multi-member and vice versa)
f. Mergers and acquisitions
g. Choice of entity
h. Tax exempt entities update
i. New rules on information document requests
i. Partnership and S corp. loss limitations
j. HOAs (choice of entity, eligibility under I.R.C. §1024, Form 1120H or 1120)

a. Tangible property regulations safe harbors overview (focus on provisions that must be elected annually), and examples for the de minimis safe harbor (focus on the definition of a unit of property - e.g. house vs. windows)
b. Like kind exchanges
c. Tax credits
d. Common paymaster issues
e. Start up and organizational expenses
f. Passive activity losses and at-risk amounts
g. Depreciation issues [depreciation recapture (including recapture where bonus or 179 taken), vehicle or other assets no longer in service, vehicle trade-in]
h. Stock options and other equity compensation for employees
i. Substantiation of business expenses
j. Accumulated sick and vacation leave pay (and SE tax)
k. Partnerships and joint ventures and electing out of subchapter K

a. When to file Form 706 to elect portability, and how to file
b. Basis consistency rules
c. Types of trusts (revocable/grantor)
d. Income taxation of trusts and estates (completing Form 1041)

a. Accountant-client privilege
      i. Overview
      ii. Work product doctrine
      iii. Responding to summons or subpoena of records (when/how to invoke privilege)
b. Confidentiality
      i. Confidentiality agreements with third party providers
      ii. Confidentiality and email (e.g. duty to encrypt protected information)
      iii. Confidentiality and mobile devices (e.g. how to secure the device, backup, remote wiping, are there apps that can violate confidentiality)
      iv. Confidentiality when uncover corporate misdeeds (e.g. money laundering)
c. Sale, discontinuance, or acquisition of an accounting practice
      i. Confidentiality issues
      ii. Record retention
d. Scenarios

a. Nonresident returns (Form 1040NR)
b. Tax treaties
c. Foreign earned income exclusion
d. Reporting foreign income/accounts (FBAR, FATCA, FIRPTA, etc.) with examples*
e. ITINs*

a. Marijuana and hemp sales (state and federal rules, medical versus commercial, banking issues and record, deductions, IRC Section 280E and the intersection with IRC 263A and IRC 471, CCA 201504011)
b. Virtual currency – IRS is now requiring reporting of bitcoin users*
c. Hobby losses
d. Military tax issues
e. Capital gain reporting (Schedule D transactions 1245, 1250, 18-19 yr. property sales, dealers)
f. Charitable contribution rules (including valuation and substantiation)
g. Schedule A contribution carryovers (including if cannot itemize and take standard deduction)
h. ACA update
i. Disaster tax relief (additional time to perform certain time sensitive acts, claiming losses related to the disaster on the tax return for the previous year, usually by filing an amended return, reconstructing records)*
j. Share Economy. Individuals and groups use technology advancements to arrange transactions to generate revenue from assets they possess - (such as cars and homes) - or services they provide - (such as household chores or technology services). Tax and employment tax issues*

a. Publicly traded partnerships
b. Net investment income tax
c. Bonds and annuities

a. Identity theft, scams, and safeguards*
      i. IR-2016-162 Some of the most prevalent IRS impersonation scams
      ii. New two-stage e-mail scheme targets tax professionals
      iii. The IRS and Security Summit partners have announced new and expanded safeguards for the 2017 filing season that will help ensure the authenticity of the taxpayer and the tax return
b. Future State Initiative: IR-2016-174. The new “Finding Out How Much You Owe” feature, paired with existing IRS online payment options, increases taxpayer self-service options.*
c. Practitioner Priority Services (PPS), navigating voice prompts*
d. e-Services online tools for tax professionals (registration, e-file, TDS, TIN matching)*
e. Private Debt Collection. The IRS plans to begin private collection of certain overdue federal tax debts as early as spring of 2017 and has selected four contractors to implement the new program. IR-2016-125*
f. Voluntary Certification Program for Professional Employer Organizations which Notice 2016-49. With many small businesses looking to PEOs as a viable option in lowering their employer costs (e.g. health care costs), this IRS program mitigates the risks of using a PEO that fails to remit or file taxes on behalf of the company.*
g. Audit Techniques Guides (ATGs). ATGs help IRS examiners during audits by providing insight into issues and accounting methods unique to specific industries. While ATGs are designed to provide guidance for IRS employees, they’re also useful to small business owners and tax professionals who prepare returns. How are they helpful for business and tax planning purposes and what industry ATG’s are available.*


a. Civil Service Retirement and Federal Employee Retirement Systems
b. Qualified and non-qualified annuities
c. Different types of 401(k) plans

a. Offers in compromise (including effective tax administration offers, new financial standards)*
b. Collection statutes and rules that stop the statute from running or tolls
c. Transferees and nominees, I.R.C. § 6901 transfers

13. MISC.
a. Real estate development or partition – allocation of basis
b. Multi state allocation and nexus rules
c. Other multi state issues

*Topics proposed by the IRS

seal of IRS identifying 'Approved Continuing Education Provider

The University of Nebraska Annual Tax Institute is accredited as IRS Continuing Education Provider (#NQ6J1)

The Tax Institute provides CPAs, enrolled agents, attorneys, certified financial planners, public accountants, tax preparers, paralegals, bookkeepers and banking, insurance and real-estate professionals with training to remain current on tax rules and regulations while earning continuing education credits, including two hours of ethics credit. The institute is accredited as IRS Continuing Education Provider (#NQ6J1)


Uzendoski, Virginia
Senior Assistant Director of Programs and Operations
CoB 201 F
P.O. Box 880405
Lincoln, NE 68588-0405
Mailing Address
University of Nebraska–Lincoln
Dean's Office
P.O. Box 880405
Lincoln, NE 68588-0405
Shipping Address
University of Nebraska–Lincoln
Dean's Office
CoB 301
Lincoln, NE 68588-0405