This program explores what to do when you are preparing an individual tax return and discover that one or more forms K1 are purportedly owned by the taxpayer’s IRA or other retirement plan. The discussion includes UBTI for IRAs, due diligence with respect to ownership of non-publicly traded businesses, along with what the tax preparer can and cannot do in these situations.

This webinar qualifies for 2 IRS CE & 2 NASBA CPE Credits.
Thu, Aug 5, 2021 · 2:00 PM Eastern Time (US & Canada) (GMT -4:00)
John Sheeley, EA
Chester, New York based John Sheeley, EA began his career in the tax industry in 1987, passing the IRS special enrollment exam in 1995. His career includes 13 years as a multi-unit franchisee of a national tax firm and 5 years as a tax manager at a regional CPA firm in New York. A National Tax Practice Institute fellow, John completed his undergraduate education at the State University of New York at Oswego.

John formed his current tax services firm in 2008, with a focus on the tax and representation needs of U.S. citizens living abroad, and non‐resident alien entrepreneurs and entertainers living and working in the United States. The Firm prepares the occasional cannabis industry and crypto currency tax return.

John is also the founder of Tax Practice Pro, Inc, a national continuing education provider. His current teaching focus centers on taxation of legal marijuana businesses, problems of S corps, and taxation of non-resident aliens and those living abroad. He can be reached at john@taxpracticepro.com