Foreclosure & Debt Relief Issues - 3 Hours CPE
Foreclosure & Debt Relief Issues - 3 Hours CPE
Couldn't load pickup availability
Viewing This Product
Description
COURSE DESCRIPTION:
This course reviews the federal tax consequences of foreclosure and debt relief transactions. Topics include abandonment of secured property, foreclosures, repossessions, short sales, cancellation of debt income, Section 108 exclusions, insolvency and mortgage debt relief, tax attribute and basis reductions, and the preparation of Form 982.
LEARNING OBJECTIVES:
After completing this course, participants will be able to:
- Identify when cancellation of debt and other debt relief transactions result in taxable income.
- Assess the application of available exclusions from cancellation of debt income under federal tax law.
- Recognize the tax consequences of debt relief involving secured property and the resulting tax attribute and basis adjustments.
- Identify the reporting requirements associated with debt relief transactions and Form 982.
| NASBA |
Field of Study: Taxes CPE Credit: 3.0 hours Delivery Method: QAS Self Study |
| IRS |
Field of Study: Federal Tax Law CE Credit: 3.0 hours IRS Program Number: VP8T3-T-00456-23-S |
| CTEC |
Field of Study: Federal Tax Law Subject CE Credit: 3.0 hours CTEC Course Number: 1044-CE-05288 |
| Publication Date: | 4/15/2023 |
| Instructional Delivery Method: | QAS Self-Study |
| Level: | Intermediate |
| Prerequisites: | General knowledge of federal taxation |
| Advanced Preparation: | None |
| Author: | Lee Reams, Sr., BSME, EA |
|
Course Material: A copy of the course material is available for download under the Additional References tab. Refund Policy: Your complete satisfaction is our #1 priority. At CountingWorks, Inc., we do whatever it takes to make sure your expectations are met on every order we complete. We back all of our products with a 10-day no-hassle money-back guarantee. For information regarding refunds, complaints and program cancellation policies, please contact our Customer Service Department at 1-800-384-1101. Certified Public Accountants: CountingWorks, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org. Registration: Sign-up online by clicking add to cart above or by phone at 1-800-384-1101. |