Kansas Income Tax Institute

The Kansas State University Department of Agricultural Economics invites you to attend the 72nd annual Kansas Income Tax Institute. The program is intended for tax professionals and is designed to provide up-to-date training on current tax law, regulations, and updates. The program stresses practical information to facilitate the filing of individual, small-business, and farm returns.

This year's program has obviously been affected by the COVID-19 pandemic. There are four in-person meetings planned, as well as three online events. We obviously don’t know what will happen this fall and it may be that it will not be possible to hold some or all of the in-person meetings. If that happens, there will be online meetings conducted on those dates, so that you will not have to change your schedule.

K-State has begun the process to become approved by NASBA as an online course sponsor; however, at this time, we have not received approval.  Until and unless NASBA certification is received, the online course does not qualify for CE credit for Kansas CPAs. 

The Kansas Income Tax Institute will begin at 8:00 a.m. and adjourn at 4:30 p.m. each day, with registration and sign-in at 7:30 a.m. Lunch will be served on-site each day at 12:00-1:00 p.m. There will be a morning and afternoon break each day.

Questions? Rich Llewelyn at rvl@ksu.edu.

 

 

Dates & Location
October 27 - 28, 2020

Garden City

Clarion Inn
1911 E. Kansas Ave
Garden City , KS  67846

Questions: Rich Llewelyn - rvl@ksu.edu

October 29 - 30, 2020

Online 1- Zoom

Online 1- Zoom

K-State has begun the process to become approved by NASBA as an online course sponsor; however, at this time, we have not received approval.  Until and unless NASBA certification is received, the online course does not qualify for CE credit for Kansas CPAs. 

Questions: Rich Llewelyn - rvl@ksu.edu

November 9 - 10, 2020

Topeka

Ramada Convention Center
420 SE 6th St.
Topeka , KS  66607

Questions: Rich Llewelyn - rvl@ksu.edu

November 12 - 13, 2020

Wichita

Villa Luna
8406 W Central
Wichita , KS

Questions: Rich Llewelyn - rvl@ksu.edu

November 23 - 24, 2020

Online 2 - Zoom

Online 2 - Zoom

K-State has begun the process to become approved by NASBA as an online course sponsor; however, at this time, we have not received approval.  Until and unless NASBA certification is received, the online course does not qualify for CE credit for Kansas CPAs. 

Questions: Rich Llewelyn - rvl@ksu.edu

December 7 - 8, 2020

Salina

Tony's Pizza Events Center (formerly Bicentennial Center)
800 The Midway
Salina , KS  67401

Questions: Rich Llewelyn - rvl@ksu.edu

December 9 - 10, 2020

Online 3 - Zoom

Online 3 - Zoom

K-State has begun the process to become approved by NASBA as an online course sponsor; however, at this time, we have not received approval.  Until and unless NASBA certification is received, the online course does not qualify for CE credit for Kansas CPAs. 

Questions: Rich Llewelyn - rvl@ksu.edu

Continuing Education

The live onsite program is designed to meet the continuing education guidelines of:
1. Kansas Board of Accountancy: 16 hours (no ethics).
2. Accreditation Council for Accountancy & Taxation: 16 hours. (no ethics).
3. Kansas Continuing Legal Education Commission (CLE): 16 hours  (no ethics).
4. CFP Board of Standards:  15 hours. (no ethics).
5. Kansas Real Estate Commission, 6 elective hours
6. IRS Enrolled Agent Program: 10 hours of Federal Tax Law; 5 hours of Federal Tax Update onsite; 2 hours of ethics, if taking the webinar from WU. 
7. Other Tax Return Preparers (OTRP): 10 hours of Federal Tax Law; 5 hours of Federal Tax Update; and 2 hours of ethics, if taking the webinar from WU. 

The online presentations are designed to meet the CE guidelines for credit for:
1. Kansas Continuing Legal Education Commission (CLE): 16 hours  (no ethics, unless taking CLE webinar).
2. CFP Board of Standards:  15 hours. (no ethics).
3. IRS Enrolled Agent Program: 10 hours of Federal Tax Law; 5 hours of Federal Tax Update onsite; 2 hours of ethics, if taking the webinar from WU. 
4. Other Tax Return Preparers (OTRP): 10 hours of Federal Tax Law; 5 hours of Federal Tax Update; and 2 hours of ethics, if taking the webinar from WU. 
K-State has begun the process to become approved by NASBA as an online course sponsor; however, at this time, we have not received approval.  Until and unless NASBA certification is received, the online course does not qualify for CE credit for Kansas CPAs. 

Note: Continuing Education is NOT required for OTRPs, but is voluntary. If taken with the Ethics Circular 230 Webinars from KSU/WU School of Law, this program fulfills all continuing education requirements for EAs and OTRPs.

Day 1 alone provides 5 credits of Federal Tax Law CPE credit and 2 hours of Federal Tax Update.  There is an hour of Kansas Department of Revenue Education, that does not qualify for the EA CPE credit, but does count for others (CPAs, etc).

Day 2 alone provides 5 credits of Federal Tax Law CPE credit and 3 credits of Federal Tax Update credit. 

 

Topics

■ Day 1 Topics and Objectives: 

NOLs and EBLs 
Understand the new rules for the carryforwards and carrybacks of NOLs, both farm and non-farm and how to apply them in various situations; understand how the EBL rules work in conjunction with the NOL rules. 

Unexpected Issues for Individual Taxpayers
Understand the difference in unique situations between taxable and nontaxable income; how to make adjustments to uncommon miscellaneous income items; learn the various tests for material participation depending on the particular Code section at issue; understand the application of the NIIT in various scenarios.

Small Business Issues
Death of a Business Owner: learn the rules that apply when handling income and expense items commonly incurred when a business owner dies.

New Legislation/Developments (Part 1)
Get up-to-date on new legislation and changes in the law and how the new rules apply to client situations. 

Retirement Plan Distributions
Understand the new rules surrounding retirement planning as a result of the SECURE Act and the CARES Act and the planning opportunities/changes provided. 

Depreciation
Learn the application of various depreciation rules and techniques to farm and non-farm business including bonus, expense method, and unique depreciation rules that apply when asset are sold and well as applied to high-income clients. 

Rulings and Cases (Part 1)
Learn how recent cases decided by the courts and rulings from the IRS apply to client situations and how the developments impact existing positions taken on tax returns.

State of Kansas Tax Issues: become updated on how rules at the state level impact a KS taxpayer's return. 

 

■ Day 2 Topics and Objectives:

New Legislation/Developments (Part 2)
This is a continuation from Day 1, with the same objectives. 

Small Business Issues
Hobby Activities and Home Office Refresher: learn how to apply the home office rules to taxpayers that work out of their home; understand the distinction between a for-profit business activity and one that is a hobby and the factors the IRS and the courts use for making the distinction. 

2020 Form W-4 Analysis
Understand the recent revisions to Form W-4 and what they mean to clients.

Uncommon Miscellaneous Income (and Adjustments)
Learn the unique issues associated with uncommon income items and what is taxable and what is not, and what to look for in a client's information and facts that might lead to the presence of unique items of income, and how to report it once found.

Ag Issues and Rural Investments
Understand some of the unique areas of farm taxation including tax issue associated with "solar farms"; the Qualified Business Income Deduction"; real estate trades; passive losses; as well as farm-related case rulings and IRS developments.

Trust Essentials
Learn the basics of trust taxation and how to properly prepare a basic income tax return for a trust.

Schedule E
Gain an understanding of the items of income that are reported on Schedule E and why;  understand how to report the various types of rental income.

Rulings and Cases (Part 2)
This is a continuation from Day 1, with the same objectives. 

 

Registration

To register:

1. Register online with a credit card: (Link will open in September 2020)

2. Download BROCHURE and mail registration with a check to:
KANSAS INCOME TAX INSTITUTE
Dept. of Agricultural Economics
345 Waters Hall
1603 Old Claflin Place
Manhattan, KS 66506

Registration fee (in-person): $300 for two days. $250 for one day.
Registration fee (in-person): $240 for two days. $200 for one day.

The registration fee includes both volumes of the 2020 Federal Tax  Workbook.  Workbooks will be distributed at each location. The fee also includes lunch on-site both days, as well as refreshments during breaks.

Questions: Rich Llewelyn - rvl@ksu.edu

Faculty

Day 1: West: Garden City; Online 1
Paul G. Neiffer: CPA; Principal, Agribusiness & Cooperatives, CliftonLarsonAllen, LLP, Kennewick and Yakima, WA; author of the farmcpatoday.com blog

Roger A. McEowen: Kansas Farm Bureau Professor of Agricultural Law and Taxation, Washburn University School of Law, Topeka, KS;  Member of Iowa and Kansas Bar Associations and admitted to practice in Nebraska.

Day 1: East and Central: Topeka, Wichita, and Salina; Online 2 and Online 3
Lori McMillan, Professor of Law, Washburn University School of Law. 

Randy Carlson: Accountant, Sink Gordon and Associates, Clay Center, KS. Member of the National Society of Accountants, member of the Accreditation Council for Accountancy and Taxation, and a past president of the Public Accountants Association of Kansas (PAAK).

 

Day 2: All Locations

Roger A. McEowen: Kansas Farm Bureau Professor of Agricultural Law and Taxation, Washburn University School of Law, Topeka, KS;  Member of Iowa and Kansas Bar Associations and admitted to practice in Nebraska.

Ross Hirst: Former IRS Senior Stakeholder Liaison for Kansas, retired.

For more information, contact Rich Llewelyn at the phone or email below:
Phone: 785-532-1504  Email: rvl@ksu.edu