NATP Tax Forums Atlantic City NJ, Harrah’s September 20-21, 2018 Las Vegas NV, Planet Hollywood September 25-26, 2018 Indianapolis IN, Crowne Plaza Downtown October 17-18, 2018

Upcoming Events NATP National Conference Anaheim CA, Anaheim Marriott August 6-9, 2018 See Pg 2 for NY Chapter Meet & Greet

The NY Chapter Summer Series

The Summer of Tax Reform!

Day One: NATP New York Chapter Summer of Tax Reform: Individuals and Trusts

Day Two: NATP New York Chapter Summer of Tax Reform: Tax Reform for Small Businesses

See Page 2 for in depth details on topics, locations

IRS Nationwide Tax Forums! The IRS has released the list of locations for the IRS Tax Forums. It can be found here: https://www.irs.gov/newsroom/tax-preparers-register-now-for-2018-irs-nationwide-tax-forums

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Don’t Forg_t: NATP offers a $10 Discount off the Early Bird rate on IRS forums! Use Code: $2018NATP$ when you register

New York State Chapter of NATP

PO Box 3140 Binghamton, NY 13902 NewYorkNATP.com

Phone 800-822-3260 Fax; 888-906-5868

This Month’s Issue

NY Chapter Meet & Greet at Conference News from the State Tax Dept Want to Join the NY Chapter Board? Summer Series Topics & Dates Tax Season Issues Consider Tax Court

New York Chapter of NATP Monthly Newsletter June 2018

E-News

Contributors:

Kathryn M. Keane, EA Chris Bertuglia, EA Dan Paoletti, EA Matthew Hall, CPA Roman Bellusci, CPA

Every year NATP hosts a 4-day National Conference where you can choose from various courses and earn up to 28 CPE. Attending the National Conference is a great way to learn from the high-quality courses given as well as network with other professionals. Throughout the conference, you can visit the expo hall where there are numerous vendors who will be giving out information on items from professional software to office supplies.

The NY Chapter will be hosting its annual meet and greet right after the charity event on Tuesday August 7th. The NY Chapter’s Board of Directors would like to show our appreciation to all NY members. Join us for a drink and some appetizers! It will be a great way for us to meet you and for you to meet other NY members!

Be sure to look out for our flyers when you get to the conference. We will be posting our location for the meet and greet.

Summary of Personal Income Tax Changes Enacted in the 2018-2019 Budget Bill

Here are some of the more common provisions:

Definition clarified for resident individual for NYS income tax purposes

Empire State Child Tax Credit will follow 2017 federal amount and limitations

Statute of Limitations has been extended on amended return assessments

Wage reporting requirements on NYS-45 will not be required for all quarters

The complete Budget Bill can be reviewed at www.tax.ny.gov/pdf/memos/income/m18_4i.pdf

Additional Budget Changes Keep a lookout for future guidance on these and other key issues:

Contributions to charitable gift fund accounts (including New York City decouple) and New York State credit

Decoupling from Internal Revenue Code changes Employer Compensation Expense Program Low-income housing credit

Enhanced Installment Payment Agreement Application The web application is now easier than ever to use for

you or your clients:

Set up automatic payments Change the monthly payment date Update bank information Print a certificate of good standing Online IPA’s can be requested for balances of

$20,000 or less and with 36 or fewer monthly payments

Complete information available at www.tax.ny.gov/pay/all/ipa.htm

Pay a bill or notice online

Use an Online Services account to pay a bill or notice directly from a bank account for free, or pay with a credit or debit card for a fee. www.tax.ny.gov/pay/all/pay_a_bill.htm

Use Quick Pay (for individuals only) to pay directly from a bank account for free. (No Online Services account needed.) www.tax.ny.gov/pay/all/pay_a_bill.htm#quick

Respond to a request for additional information If your client received a letter from the tax department

asking for documentation to support what they claimed on their return, it doesn't mean that they did anything wrong. It's just an extra step to ensure refunds go out to only those who are entitled to them.

To submit a response or for additional information, visit

www.tax.ny.gov/pit/letters/default.htm.

Disagree with a bill or notice online

If your client receives a bill for personal income tax and they disagree, you or your client can use the respond to department notice online application and select I received a bill. It's the fastest way to communicate with the Tax Department regarding a bill. To submit a response or for additional information, visit www.tax.ny.gov/e-services/acvw/rtdn.htm.

NY Chapter Meet & Greet! 2018 NATP National Conference & Expo Chris Bertuglia, EA

News from the State Tax Department By Dan Paoletti, EA

Want to join the NY Chapter Board? By Matt Hall, CPA

At our Annual meeting this Fall we will have elections for chapter board members. We need volunteers to help run the chapter and keep providing the education that we all need to keep current. If you are interested in joining the board or want more information, please contact President Ed Arcara at (716) 884-2492.

Summer Series Dates/Locations

Summer of Tax Reform: Individuals and Trusts (8CE) 8:00 am - 5:00 pm Tax Reform changed the face of the tax world. This hands-on seminar looks at how tax reform impacts the 1040 as well as presenting an overview of Trusts. The session will cover the changes to Schedule A, the expanded Child Tax Credit, new Family Tax Credit, changes to 529 and the how the world turned upside down. At the end of this session, attendees will be able to:

Recognize the new Standard Deductions and Tax Rates

Distinguish between Qualified Child and Qualified Relative

Calculate the 2018 federal state and local tax deduction.

Discuss the impact of items no longer deductible on the Schedule A

Calculate the new Kiddie Tax Determine the expanded Child Tax Credit Understand the new Family Tax Credit Advise clients on the expanded uses of 529

funds, including rollover to ABLE Understand why clients form Trust Recognize the different types of Trusts utilized

by clients Determine when a Trust tax return is due

Summer of Tax Reform: Tax Reform for Small Businesses (8CE) 8:00 am - 5:00 pm

Tax Reform for Small Businesses Tax Reform radically changes how our small business clients will move forward. This session will review how Tax Reform will be implemented among our Schedule C filers as well as entity members and corporations. At the end of this session, attendees will be able to:

Recognize when the Small Business Deduction is available

Calculate the Small Business Deduction Discuss the Small Business Accounting Method

expansion Utilize Bonus Depreciation, Section 179 Discuss the new Paid Family/Medical Leave credit Recognize the revised NOL provisions Discuss the previously available tax breaks no longer

available

Register Online: https://www.natptax.com/Chapters/Pages/NewYorkChapterEducation.aspx

By Phone: Call Member Services (800) 558-3402 Ex 3 Mail/Fax Registration forms available at the end of newsletter

Locations: Aug. 2-3, 2018 del Lago Resort & Casino 1133 State Route 414 Waterloo, NY 13165 Room Rate Code: NYNATP Aug. 20-21, 2018 Hilton Garden Inn Melville 575 Round Swamp Rd Plainview, NY 11803 Room Rate Code: NYNATP Aug. 22-23, 2018 Adria Hotel & Conference Center 221-17 Northern Blvd Bayside, NY 11361 Room Rate Code: NYNATP Aug. 27-28, 2018 Hampton Inn Tarrytown 200 West Main St Elmsford, NY 10523 Room Rate Code: NYNATP Aug. 29-30, 2018 Courtyard Albany Airport 168 Wolf Road Albany, NY 12205 Room Rate Code: NYNATP

Newsletter Committee:

Kathryn M. Keane, EA Christina Parisi &

Tricia Santana

Did you have a taxpayer who asked a tricky tax question that you just couldn’t answer? Did you encounter a tax issue not common in your practice and need some guidance? Send them to the NYS Chapter! For the past three years, we have gathered your questions and sticky situations into our Tax Season Issues Module for our Fall Series and it has been a HUGE hit! For this coming year we would love to keep Tax Season Issues fresh and exciting for our seminars, but we can’t do it without your help! Send your “Tax Season Issues” to Rick Rottkamp at rh1040@aol.com You may just find the answer in our 2018 Fall Seminar!

Tax Season Issues?

NY Chapter Founders Award

Ralph Sommers 2013

Wendy C. Loomis 2014

Karl Herba 2015

Dwayne “Rocky” Rhodes 2016

Kathryn M. Keane 2017

 

Consider Tax Court by Roman Bellusci CPA

For those of us who represent our clients at an IRS or State audits know 99% of the time there will be additional tax due. If agreed, all is well. If it’s unfair and unreasonable and the auditor won't budge no matter how much evidence (good evidence) you turned over, there are alternatives. After an appeal to his/her supervisor fails, consider Tax Court. Most of us are not authorized to represent our clients in Tax Court (either an admitted attorney or tax practitioner who passed the exam and is admitted to practice before the court). Frankly I found in most cases I handle, it never gets to Tax Court. Most of these cases are resolved BEFORE they get there. You can represent your client right through to Appeals. Saddened by the suicides of NYC Taxi Cab drivers, I represented a Cab Driver Pro Bono ($ 8,500 Fee Ouch!) After many months of correspondence, I secured a 70% reduction in the additional tax levied by the auditor for 2015 & 2016. See https://www.ustaxcourt.gov/ for more details Quickfinder Special Price Alert!

Order your Quickfinders early and save BIG! Save up to 25% off and get free shipping with online orders of 3 or more products! With Quickfinder quantity discount pricing, the more you buy, the more you save. Plus, ordering online by June 30th will give you FREE shipping when you order 3 or more products. Visit tax.tr.com/NATP to place your order, or mention promo code Q680 and NATP when placing order over the phone or on the eStore! Remember to use your code so your association receives a donation for each product purchased and you receive your discount. *FREE shipping on orders of 3 or more products expires June 30!

Name: Member ID#:

Designation(s): License #: PTIN #:

Address:

City: State: Zip:

Email: Phone:

Emergency Contact Name & Phone Number ___________________________________________________

Check here if the above address should be your main mailing address.

Registrationincludes

E‐MaterialsandLunch

Payment Method: Credit Card or Checks made payable to NATP

Name as it appears on CC:

CC #: Exp. Date: CVV #

Signature:

How To Register: Mail To: NATP, PO Box 8002 Appleton, WI 54912-8002 Phone: 800.558.3402, Ext. 3 Fax: 800.747.0001 Online: https://www.natptax.com/Chapters/Pages/NewYorkChapterEducation.aspx

Cancellation Policy: Cancellations must be submitted to NATP no later than 8 days prior to the seminar to receive a refund. Cancellation is subject to a $25 fee.

NATP New York Chapter Summer of Tax Reform: Individuals and Trusts

8:00 am – 5:00 pm

Registration Fees Member Non-Member Early Bird (ends 8 days prior to seminar)

$225 $250

Standard $250 $275 Guest Meal Ticket $25 Paper Materials $20

Location – Please check the box in front of the location you wish to attend.

Plainview – Hilton Garden Inn - Melville Aug. 20, 2018

Bayside – Adria Hotel & Conf. Center - Queens Aug. 22, 2018

Elmsford – Hampton Inn – Tarrytown Aug. 27, 2018

Albany – Courtyard - Albany Airport Aug. 29, 2018

Name: Member ID#:

Designation(s): License #: PTIN #:

Address:

City: State: Zip:

Email: Phone:

Emergency Contact Name & Phone Number ___________________________________________________

Check here if the above address should be your main mailing address.

Registrationincludes

E‐MaterialsandLunch

Payment Method: Credit Card or Checks made payable to NATP

Name as it appears on CC:

CC #: Exp. Date: CVV #

Signature:

How To Register: Mail To: NATP, PO Box 8002 Appleton, WI 54912-8002 Phone: 800.558.3402, Ext. 3 Fax: 800.747.0001 Online: https://www.natptax.com/Chapters/Pages/NewYorkChapterEducation.aspx

Cancellation Policy: Cancellations must be submitted to NATP no later than 8 days prior to the seminar to receive a refund. Cancellation is subject to a $25 fee.

NATP New York Chapter Summer of Tax Reform:

Tax Reform for Small Businesses

8:00 am – 5:00 pm

Registration Fees Member Non-Member Early Bird (ends 8 days prior to seminar)

$225 $250

Standard $250 $275 Guest Meal Ticket $25 Paper Materials $20

Location – Please check the box in front of the location you wish to attend.

Plainview – Hilton Garden Inn - Melville Aug. 21, 2018

Bayside – Adria Hotel & Conf. Center - Queens Aug. 23, 2018

Elmsford – Hampton Inn – Tarrytown Aug. 28, 2018

Albany – Courtyard - Albany Airport Aug. 30, 2018