Provisions of the Affordable Care Act will again be the big issue this year for taxpayers - but instead of the focus being heavy on individual taxpayers, more interest will be on employer reporting requirements, a tax expert with the College of Food, Agricultural, and Environmental Sciencesat The Ohio State University said.
To help experienced tax preparers learn about federal tax law changes and updates for this year as well as learn more about issues they may encounter when filing individual and small business 2015 tax returns, the college is offering a series of two-day income tax schools.
The tax school will also offer information on preparing taxes that focus on agriculture concerns, said Larry Gearhardt, director of the Ohio State University Income Tax School Program of Ohio State University Extension. OSU Extension is the statewide outreach arm of the college.
“The school is an excellent value that will be taught by tax experts with a goal to bring participants up to speed on the latest developments and changes in tax laws that will impact this year’s tax returns,” he said.
The OSU Income Tax Schools are an intermediate-level course that focuses on interpreting tax regulations and changes in tax laws to help tax preparers, accountants, financial planners and attorneys advise their clients.
Participants will receive the 2015 National Income Tax Workbook prepared by the Land Grant University Tax Education Foundation for the tax schools held in Ohio and 30 other states.
The tax schools will offer continuing education credit for accountants, enrolled agents, attorneys and certified financial planners, he said.
Topics covered during the tax school include:
* Individual tax issues.
* Provisions limited by level of income.
* Tax practice.
* Internal Revenue Service issues.
* New legislation, rulings and cases.
* Agriculture and natural resources.
* Business entities.
* Trade or business.
* Net operating loss.
* Repair regulations.
* Affordable Care Act.
* Business issues.
The tax school will also feature a separate webinar on ethics that will broadcast Dec. 16 at 1 p.m. and Dec. 18 at 10 a.m. The webinar is approved by the IRS for two hours of continuing education credits and will be available to tax school participants enrolled in the two-day tax school at no extra charge, Gearhardt said.
The preregistration fee for each workshop is $340, with late registration $390. The fee includes all materials, lunches and refreshments. The deadline to enroll is 10 business days prior to the date of each school. Participants can also choose to attend just day 1 or day 2 for $210.
The schools run from 8 a.m. to 5 p.m. on the following dates and locations:
* Nov. 4-5 - Ole Zim’s Wagonshed; 1387 state Route 590, Gibsonburg.
* Nov. 9-10 - All Occasions Banquet Center and Catering; 6989 Waldo Delaware Road, Waldo.
* Nov. 16-17 - Kent State University, Student Center; 1075 Risman Drive, Kent.
* Nov. 19-20 - Presidential Banquet Center; 4548 Presidential Way, Kettering.
* Nov. 23-24 - Old Barn Out Back; 3175 W. Elm St., Lima.
* Nov. 30 to Dec.1 - Ashland University-Convocation Center; 401 College Ave., Ashland.
* Dec. 3-5 - Ross County Service Center; 475 Western Ave., Chillicothe.
* Dec. 7-8 - Ohio University, Zanesville Branch Campus Center; 1425 Newark Road, Zanesville.
* Jan. 14-15 - The Ohio State University, Fawcett Center; 2400 Olentangy River Road, Columbus.