National Association of Tax Professionals’ Post

Transcript

Hi, I'm Katherine Keane and I am one of the TSU instructors and I will be presenting for NTP. The Are you ready for tax season And it's a webinar that kind of pulls together all of the late breaking stuff that came up while we were on the road doing the TSU and the stuff that happened right before we went out that we couldn't get in the book and we tried to. Presented, but it's kind of hard to present stuff that you don't have in front of you. And so we're going to be dealing with all of that and it's, it's exciting and I'm deeply honored to have been asked to do that. I'll give you even more information about it. One of the things that we're going to talk about in the Are you ready? Is what we know now about the vehicle credit. Then there's a whole thing about 24 and getting the energy credit for the vehicle, and in 24, which radically different is that the taxpayer can get the credit at the dealership. And operationally, it kind of runs like cash for Clunkers did. But there's a couple of nuances there. Like what if my income is too high and I get the credit? What happens? Do I have to pay it back? Do I keep it? What if I'm on the other end of the tax pond and my tax credit would have been much smaller if I claimed it on the return, but I got it at the? Dealer. And I technically got more credit than I should have. Do I need to repay that? And that's all that we'll be talking about. We're also going to be covering. Some issues that we've gotten some clarity on. We have final information on the Corporate Transparency Act. We have some more. We have some extended deadlines that have happened because of some, you know, world events. We'll be talking about that. We'll be talking about the ERC and how to get your client out of it. You know what, what is the procedure for pulling out of an ERC that will? Help those clients that. May have gotten caught up in one of those mills and and we'll basically, you know, if something happens the day before, we're going to be in there talking about it on our film dates, which is in early January. And then there's the things we don't know. Like there's still a batch of questions about the old. 529 plan and rolling it out for to fund a a Roth IRA of the account beneficiary. There's been a lot of really good questions that came from attendees that we still don't know and I want people to know we don't know that. So that when they go into the taxis and they know they have to monitor that e-mail because when we do know. And ATP will be right out there to tell us what those rags are when they when they do come out. We don't know about how many times we can change the beneficiary, if we can change it at all. And I think sometimes knowing what we don't know. Is just as valuable as being droned on about what we what we should know.