Education and Opportunities

Arkansas Society of Enrolled Agents

Annual Meeting at Arkansas Tech University
Russelville, Arkansas — October 25-26, 2018


Meeting Agenda

 Thursday, October 25, 2018
 Dr. Bryan Administrative Building – Arkansas Tech University, Russellville, AR, College of Business

WHAT WHEN
Registration by the ARKSEA Directors and a welcome from the Arkansas Tech University Accounting Club. 07:00  AM - 07:45 AM
Dr. Tracy Cole will introduce an ethics presentation titled, “The Criminal Mind: Understanding and Preventing Fraud, Theft, and Embezzlement.” Tax preparation professionals who own their own businesses, supervise employees, or advise clients in similar circumstances need to understand and recognize the warning signs of fraud and how it can be prevented. This presentation will begin with an overview of the fraud triangle with emphasis on opportunity for theft and how poor supervision and oversight create the perfect conditions for theft to occur. The select cases illustrating simple and complex embezzlement schemes, some involving tax consequences for the victim, will be discussed. 08:00 AM - 08:50 AM
Tracy Johnston, CPA ATU will highlight the dirty dozen. Her paper titled “The Dirty Dozen: Ethical Guidance from the IRS” will look into the ethical guidance provided by the IRS as outlined in Circular 230. We will discuss the tax scams as identified by the IRS as well as examples of frivolous tax positions accountants and taxpayers have claimed. 09:00 AM - 09:50 AM
Jeffrey A. Schneider, EA, CTRS, NTPI Fellow is the principal in SFS Tax & Accounting Services and SFS Tax Problem Solutions in Stuart, FL. He has been in the field of taxation since 1979 and become an Enrolled Agent in 2005, a Certified Tax Specialist in 2015, and a Certified Divorce Financial Analysis in 2004. Jeff will start the tax sessions off with a concentrated review of Section 199(A), a new tax incentive for small businesses. 10:00 AM - 11:50 AM
Lunch at the Arkansas Tech University Café is provided by the Arkansas Society of Enrolled agents and Arkansas Tech University. 12:00 Noon - 12:45 PM
Jeffrey A. Schneider continues with a detailed review of the TCJA as it affects the American community of taxpayers for the next 6 or so years. The presentation will cover personal exemption losses, increased standard deduction allowance and a myriad of taxation changes. 01:00 PM - 02:45 PM
Break furnished by the ATU accounting department. 02:45 PM - 03:00 PM
Jeffrey A. Schneider continues with the TCJA (Tax Cuts and Jobs Act) 03:00 PM - 04:45 PM
Adjourn to Friday 05:00 PM

 Friday, October 26, 2018
 Dr. Bryan Administrative Building – Arkansas Tech University, Russellville, AR, College of Business

WHAT WHEN
Registration by the ARKSEA Directors 07:00 AM - 07:45 AM
Jeffrey A. Schneider will introduce Cannabis Legislation to the group. This 100 minute course will be dealing with the history of this industry from a Federal view point. He will deal with IRC Section 280E and review some specific state laws. Court cases will be detailed to help understand how the IRS will look at returns associated with the industry. 08:00 AM - 09:45 AM
Jeffrey A. Schneider completes the morning session with Taxation of Expats. With many companies focusing on expanding their global footprint, the need for a mobile workforce continues to be a priority. Attendees will learn about the foreign income exclusion, foreign tax credit, sources of income, and filing requirements. 10:00 AM - 11:50 AM
Lunch at the Arkansas Tech University Café is provided by the Arkansas Society of Enrolled agents and Arkansas Tech University. 12:00 Noon - 12:45 PM
Pamela Carr, PhD., CPA ATU will focus on the Qualified Business Income Deduction of specific service trades or businesses IRC Sec. 199A(d). A specified service trade or business is defined in Section 1202 (e)(3)(A) as one that is involved in the performance of services in the fields of health, law, engineering, architecture, accounting, actuarial science, and performing arts, consulting athletics, financial services brokerage services, etc. The new rules will be presented with examples and the effects of the law changes compared to the law in 2017. 01:00 PM - 01:45 PM
Greggory Metcalf, IRS Liaison Office for the Southern District will talk to us about the new and improved IRS community and their responsibility to the area stakeholders. Questions are encouraged so put on your thinking cap and bring them with you. 02:00 PM - 02:45 PM
Mr. Richard Whittington of Quality systems has a return visit to discuss the necessity of good quality procedures in the tax office. The Internal Revenue Service performs periodic audits on our tax offices and they will ask questions regarding our protocol when it comes to assisting a new client or servicing old ones. What are our procedures for filing an amended return? Mr. Whittington will detail IRS requirements. He will also walk us through a computer quality system that is on line and working. 03:00 PM - 4:45 PM
Adjourn 05:00 PM