Bankruptcy Questions Answered - For CPAs, Attorneys & Tax Payers

Duration: 120 Minutes
Preparing taxes for individuals in bankruptcy adds an extra layer of complexity to an already challenging process. Bankruptcy has major implications for tax returns and the amount of money owed to the Internal Revenue Service (IRS). On top of that, how bankruptcy is handled in tax returns changes annually. And failure to anticipate and plan for tax impacts in such scenarios can have unexpected consequences on your clients (or your business).
Basics of Bankruptcy
Instructor: Robert E. McKenzie
Product ID: 506580
Objectives of the Presentation
  • The basics of bankruptcy
  • Tax filing requirements for bankrupt tax payers
  • Tax filing requirements of the bankruptcy estate
  • Special rules for taxation of individuals in chapters 3, 7, and 11
  • Discharge of indebtedness and the taxes discharged by bankruptcy
  • Filing obligation under Chapter 7, Chapter 11, and Chapter 13
  • How to complete forms 1041 and 982
Why Should you Attend
Learn about the special rules for taxation of individuals in chapters 7, 11, and 13 in this information-packed webinar hosted by taxation lawyer Robert E. McKenzie. McKenzie starts with the basics of bankruptcy and moves on to expand your working knowledge and understanding of bankruptcy as it relates to taxes while also exploring unusual taxation situations and consequences.

Expand your working knowledge and understanding of the tax filing requirements for bankrupt tax payers, tax filing requirements for the bankruptcy estate, and learn how to complete forms 1041 and 982. You will also understand the discharge of indebtedness and taxes discharged by bankruptcy and get to know filing obligations for different bankruptcy protections.

After attending this webinar, you will gain access to the tools you can use to assist your clients better (or optimize your tax consequences as a business owner). Plus, you'll be more confident in your ability to get more clients in the future.

Who will Benefit
  • Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Attorneys
  • Tax Preparers
  • Finance and accounting professionals
  • Personnel in accounting and taxation firms
  • Personnel in law firms dealing with tax issues
  • Profit businesses involved in joint ventures with non-profit organizations
  • Small business owners
$200
Recorded Session for one participant
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How it works
Live Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • The webinar joining link, username and password for joining the webinar will be updated on your OCP Account 24 hours prior to the webinar
  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Robert E. McKenzie is a Partner of the law firm of Arnstein & Lehr LLP of Chicago, Illinois, concentrating his practice in representation before the Internal Revenue Service and state tax agencies. He has lectured extensively on the subject of tax representation. He has presented courses before thousands of CPA's, attorneys and Enrolled Agents nationwide. He has made numerous media appearances including Dateline NBC and The ABC Nightly News. Prior to entering private practice, Mr. McKenzie was employed by the Internal Revenue Service, Collection Division, in Chicago, Illinois. Robert served as a member of the IRS Advisory Council (IRSAC) which is a group appointed by the IRS Commissioner to provide advice to him and his management team (2009 - 2011). Mr. McKenzie was Vice Chair Professional Services of the ABA Tax Section (2003 - 2005). He is past Chairman of the Employment Tax Committee and past co-chair of the Task Force for Bankruptcy Legislation of the ABA Section on Taxation and past Chairman of the Chicago Bar Association Federal Tax Committee. He was Dean of the National Tax Practice Institute (1998-2002). Mr. McKenzie is the author of REPRESENTATION BEFORE THE COLLECTION DIVISION OF THE IRS and coauthor of REPRESENTING THE AUDITED TAXPAYER BEFORE THE IRS and REPRESENTATION BEFORE THE UNITED STATES TAX COURT. Mr. McKenzie has been selected for listing by Law and Leading Attorneys where he served on its Advisory Board. He has been elected to the American College of Tax Counsel and serves as Vice President of its Board of Regents.

Mr. McKenzie received his J.D. with High Honors from the Illinois Institute of Technology, Chicago Kent College of Law.


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