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    CPE Resources List

     Basics logo  Our CPE resources list was designed to serve as a comprehensive repository of information presented in our online tax webinars and seminars. Each link corresponds to key topics covered in our continuing education sessions, offering quick access to critical updates, in-depth guides, expert insight and practical tools. This curated list allows tax professionals to revisit and apply the knowledge gained, ensuring they stay informed and equipped to address complex tax scenarios when needed. It’s a functional extension of our educational offerings, providing value beyond the live sessions.

    Files (2025)

    May 2025

    • Form 706: Filed for estates exceeding the annual estate limit and/or to file the DSUE for the surviving spouse
    • Form 709: Filed by individuals to report any gifts that surpass the annual gift limit per year
    • Form 1041: Filed for a trust or estate with income >$600
    • Used by an executor of a decedent’s estate to calculate and file the estate tax required by Chapter 11 of IRC (if estate exceeds annual exclusion amount)
    • Also to calculate the generation-skipping transfer tax (GSTT) per Chapter 13 of IRC
    • Extensions can be filed on Form 4768 for an automatic six-months
    • Deceased Spouse Unused Exclusion-authorized by IRC Section 2010(c)(4)
    • Section 2032 – Alternative Valuation
    • Section 2032a – Special-use Valuation
    • Section 6166 – Pay Estate Tax In Installments
    • Section 6163 – Postpone Tax On Reversionary Or Remainder Trust
    • Section 20.6166-1(d) – Protective Election
    • “Whether the amount is ‘substantial’ turns on whether under the surrounding circumstances the amount of the deficiency would be significant to an ordinary person”
    • He may be charged with the lesser offense of failure to file under Section 7203, a misdemeanor.
    • A U.S. person must file an FBAR if that person has a financial interest in or signature authority over any financial account(s) outside of the United States and the aggregate maximum value of the account(s) exceeds $ 10,000 (USD) at any time during the calendar year.
    • …the government need only show that “the defendant consciously avoided any opportunity to learn what the tax consequences were.” United States v. Bussey, 942 F.2d 1241, 1428 (8th Cir. 1992).
    • “If ‘Yes,’ are you required to file Form TD F 90-22.1 [FBAR] to report that financial interest or signature authority?”
    • In a 7201 evasion of assessment case, the government shows that Adam omitted $ 100K of taxable receipts from his return.
    • “We investigated whether there is a child credit and there is no child credit available here. We investigated whether Adam had more medical and dental deductions than were claimed on the return but there are no §213 deductions. And we looked at Adam’s business and didn’t find any accelerated appreciation deductions under §168.” 
    • Misrepresenting a known false fact violates §1001.

    June 2025

    • The Federal Disaster Relief Act of 2023 – major disaster declaration only
    • An exception to the rule limiting the deduction for personal casualty and theft losses to federal casualty losses applies where you have personal casualty gains to the extent the losses do not exceed the gains – more on this later
    • The IRS recently clarified in its 2024 Form 4684 instructions these disaster relief benefits only apply to certain presidentially declared disasters that began between December 28, 2019, and December 12, 2024 (inclusive of each date) and ended no later than January 11, 2025
    • Form 4797 – business
    • Pub. 584-B, Business Casualty, Disaster, and Theft Loss Workbook, is also available to help the business client make a list of damaged business or income-producing property and figure the loss
    • Progressive deterioration – Examples in Publication 547
    • Special procedure for corrosive drywall – Rev. Proc. 2010-36
    • Revenue Ruling 2009-9 – Losses from Ponzi-type Investment Schemes
    • In 2021 the Treasury Inspector General Report # 2021-40-045 noted that casualty loss deduction continue to be erroneously processed without valid FEMA Agency Number
    • A list of federally declared disasters and FEMA disaster declaration numbers is available at FEMA.gov/Disaster
    • Sec. 110009 of the bill -Extension of limitation on casualty loss deduction
    • Generally, when the client has a casualty (or theft in 2026 and beyond – it is possible that some provisions of the TCJA will become permanent or extended beyond 2025), the client will need to file Form 4684 – Section B
    • Pub. 584-B, Business Casualty, Disaster, and Theft Loss Workbook, is also available to help the business client make a list of damaged business or income-producing property and figure the loss
    • Election under § 1033(a)(2) not to Recognize Gain from Compulsory or Involuntary Conversion
    • For a home you rented out or used for a business for which the client is not filing Schedule C (Form 1040), review § 280A(c)(5) to figure the deductible loss
    • If the business uses the simplified method to determine deductible expenses for business use of home for 2025, figure the casualty or theft loss for the home office in Section A instead of on Form 8829 and Section B
    • The property adjusted basis – any salvage value- any insurance reimbursements (Treas. Reg. § 1.165-7(b)(1)(ii))
    • Per § 280B demolition costs and the basis of any destroyed structures are generally capitalized and added to the basis of the land on which the demolished structure were located
    • IRS Notice 90-21 states that if a casualty loss damages or destroys a structure, and the structure is them demolished, the basis of the structure must be reduced by the casualty loss allowable per § 165 BEFORE the “loss sustained on the account of” the demolition is determined
    • Revenue Procedure 2018-08 provides for seven ‘safe-harbor’ methods to reduce the burden on taxpayers when determining their casualty loss deduction
    • Treas. Regs. §1.469-2(d)(2)(xi) excludes from treatment as a passive activity deduction any “deduction for a loss from fire, storms, shipwreck, or another casualty, or from theft (as such terms are used in § 165(c)(3))
    • Consistent with the entity concept for the treatment of partnerships, §703(b) provides that the partnership shall make elections affecting how taxable income derived from a partnership is compute
    • The client would not be entitled to a deduction for a casualty loss because the § 179 deduction had reduced his basis to zero ($0.00)
    • If the insurance proceeds are less than the original cost, the gain would be ordinary income under § 1245
    • If the insurance proceeds are more than the original cost, the excess over the original cost would be a gain under § 1231, while the balance of the gain up to the original cost would be ordinary income under § 1245
    • Under Regs. § 1.263(a)-3(k)(1)(vi), Cole must capitalize as an improvement the $350,000 paid to the contractor to replace the roof structure because the roof structure constitutes a major component and a substantial structural part of the building unit of property
    • The Eight Circuit Court of Appeals, in Marshall Foods, identified the following factors that were relied on to determine that the policies insured against lost profits
    • The IRS has issued similar guidance in Treas. Regs §1.1033(a)-2(c)(8)
    • If the client’s home is destroyed by a disaster, they may still be able to utilize the § 121 exclusion to minimize or eliminate capital gains taxes on the deemed sale of the home 
    • Then, use § 1033 to defer any remaining gain exceeding the exclusion limits by reinvesting the proceeds in replacement property 
    • If part of a federal disaster loan was canceled under the Stafford Act, it is considered to be reimbursement for the loss
    • Review Depreciation Recapture in chapter 3 of Pub. 544 for more information about the recapture rule
    • This statement must show that the client is choosing to waive the carryback period under §172(b)
    • New to the 1099 family: Form 1099-DA (instructions)
    • Form 1099-K has been a moving target for several years
    • Your 1099-NEC will show $1,000 (the April payment)
    • Form 1042-S was exempt from the mandatory e-file rules for 2023 and 2024 forms
    • When it comes to 1099s, Form W-9 is your best friend
    • And it protects you from problems with FATCA
    • IRS tells you information is unreliable ‑ CP-2100 letters
    • Medical and healthcare services are reported in box 6 of 1099-MISC
    • The tax code – Section 3406(a)(1)(A) – says: if a business makes a reportable payment (i.e. a payment that will end up on a 1099)
    • A business owner by the last name of Quezada (court case) issued anywhere from 28-30 1099s a year to contractors, every year from 2005-2008, where the SSN field was blank and he didn’t do backup withholding
    • IRS: backup withholding requires a Form 945 to be filed
    • If you are filing 10+ information forms, you must e-file all of those forms: All 1099s, W-2s, 1042-S (exceptions for 2023 and 2024 versions), Form 8300, Anything in the 109x series
    • IRS e-services offers a free service: https://www.irs.gov/tax-professionals/taxpayer-identification-number-tin-matching
    • Publication 2108A: https://www.irs.gov/pub/irs-pdf/p2108.pdf
    • Guidance regarding what actions non-practitioners may take in response to IRS inquiries is still necessary and authorized under 31 U.S.C. 330
    • Proposed regulations would clarify that ERPAs who passed the ERPA-SEE prior to February 12, 2016, remain authorized to practice before the IRS if they continue to pay the annual user fee described under 26 CFR 300.10(b) and complete the continuing education described in § 10.6(e).
    • Any future user fee will be calculated pursuant to the Independent Offices Appropriation Act of 1952 (31 U.S.C. 9701) and OMB Circular A-25, User Charges
    • Former IRS employees must apply for special enrollment in accordance with 31 CFR 10.4(d)..
    • Forms required for renewal may be obtained by sending a written request to the address specified by the Internal Revenue Service or from such other source as the Internal Revenue Service will publish in the Internal Revenue Bulletin (see 26 CFR 601.601(d)(2)(ii)( b)) and on the Internal Revenue Service website
    • The One Big Beautiful Bill Act (OBBBA, H.R. 1) “is the President’s number one priority
    • The Joint Committee on Taxation’s analysis of the House-passed OBBBA shows several tax-related items as having “negligible revenue effect
    • https://www.crfb.org/blogs/breaking-down-one-big-beautiful-bill
    • The Joint Committee on Taxation (JCT) has released a document titled “General Explanation of Tax Legislation Passed by the 118th Congress and Enacted Into Law.” (JCS-1-25)
    • Treasury and the IRS issued Notice 2025-33 extending and modifying the transition relief provided in Notice 2024-56 for brokers who are required to file Form 1099-DA, Digital Asset Proceeds From Broker Transactions to report certain digital asset sale and exchange transactions by customers
    • The Treasury Department’s congressional budget request for the 2026 fiscal year would reduce the IRS’s budget by more than 20% and rescind much of the remaining funding from the 2022 Inflation Reduction Act (IRA)
    • Revenue Procedure 2025-19 provides the 2026 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under § 223 and the maximum amount that may be made newly available for excepted benefit health reimbursement arrangements (HRAs) provided under § 54.9831-1(c)(3)(viii) of the Pension Excise Tax Regulations

    July 2025

    • Amish lifestyle is regulated by the Ordnung (“rules”), which differs slightly from community to community and from district to district within a community
    • The IRS’s Position on the Application of the Religious Freedom Restoration Act to the Social Security Requirement Under Internal Revenue Code § 24(h)(7) has the effect of denying the Child Tax Credit Benefits to the Amish and certain other religious groups
    • Taxpayer Advocate Recommendation – 2023 Purple Book
    • For the full article regarding exemptions for Amish dependents, see the link below. The information pertaining to your situation is in § 21.6.1.6.1 section 7
    • IRS Chief Counsel issued program manager technical advice (PMTA) on March 29, 2019, concluding “… the [IRS] need not provide administrative relief for these taxpayers”
    • Form 886-H-Dep – Supporting Documents for Dependents
    • The IRS uses Letter 3050C to request documentation to verify a dependent claimed on a tax return
    • IRM 21.6.3.4.1.24 (10-01-2024)
    • Form 4361 filed to claim an exemption from SE tax for Members of the Clergy
    • Form 4029 filed to claim SE exemption for members of Recognized Religious Sects
    • Form SS-8 ‑If the religious group is not certain whether the individual is an  employee or a self-­employed per­son, they can request a determination from the IRS by filing Form SS-­8
    • SS-16 – Certificate of Election of Coverage
    • Handy Table from Pub 517
    • Although a minister is considered an employee under the common law rules, payments for services as a minister are considered income from self employment pursuant to §§ 1402(c) and 3121(b)(8)
    • If the employer and employee agree, an election can be made to have income taxes withheld § 3402(p)(3)
    • Swaggart v. Commissioner , T.C. Memo. 1984 -409
    • Trustees of a minister’s retirement plan may designate a portion of each pension distribution as a parsonage allowance excludible under § 107 (Rev. Rul. 63-156, and Rev. Rul. 75-22)
    • In addition, the retired minister may exclude from net earnings from self-employment any retirement benefits received from a church plan Rev. Rul. 58-359
    • Because of the exemption from income tax for the “allowable” parsonage or housing allowance, the operation of § 265 requires business expenses to be allocated between taxable and non-taxable income
    • Hamblen v. Commissioner , 78 T.C. 53 (1982)
    • Sohman v. Commissioner , 506 U.S. 168, 177113 S. Ct. 701, 707 1993)
    • A 1964 Tax Case (Deason v. Commissioner) stated that any deduction related to tax-exempt income cannot be claimed
    • In 1982 Congress enacted §280E, this limits what deductions are allowed when carrying on what consists to trafficking in a controlled substance
    • The final report issued stated that all deductions and credits for amounts paid or incurred in this venue would be disallowed – “Deductions and Credits” is determined by §162
    • §61(a) defines “gross income” broadly using examples of items that are includible in gross income
    • The Tax Court explained in Reading v. Commissioner, 70 T.C. 730, 733 (1978), “[t]he ‘cost of goods sold’ concept embraces expenditures necessary to acquire, construct or extract a physical product which is to be sold
    • In general, the taxpayer first determines gross income by subtracting COGS from gross receipts, and then determines taxable income by subtracting all ordinary and necessary business expenses (§162(a)) from gross income
    • In 1981, in Jeffrey Edmondson v. Commissioner, T.C. Memo. 1981-623 the court allowed an illegal business to recover the cost of the controlled substances obtained on consignment and to claim certain business deduction
    • Under the modified cash method described in Rev. Proc. 2001-10 and Rev. Proc. 2002-28, a reseller may account for merchandise as “inventories” or as “materials and supplies that are not incidental”
    • Recent Letter Ruling 201504011 – addresses the Uniform Capitalization Rules (UNICAP) under §263A and how a marijuana business should determine the COGS
    • The 1982 version of Regs. §Sec. 1.471-11(c)(2)(i) lists the following “indirect production costs which must enter into the computation of the amount of inventoriable costs, but only to the extent that the costs are necessary to the production of the inventory
    • Justice Department Announces Update to Marijuana Enforcement Policy – Cole Memo
    • HR 975, Respect State Marijuana Laws Act of 2017, amends the Controlled Substances Act to provide that the Act’s regulatory controls and administrative, civil, and criminal penalties do not apply to a person who produces, possesses, distributes, dispenses, administers, or delivers marijuana in compliance with state laws
    • H.R. 1227 – Ending Federal Marijuana Prohibition Act of 2017 – Limits the application of federal laws to the distribution and consumption of marihuana, and for other purposes. Calls for the deregulation of marijuana. Prohibits inter-state shipping of marijuana
    • H.R. 1824 Responsibly Addressing the Marijuana Policy Gap Act of 2017: This bill would help bridge the current bifurcations between federal marijuana laws and state laws. It would remove federal criminal penalties and civil asset forfeitures for businesses that are following their state’s cannabis laws but not federal law.
    • H.R. 715, Compassionate Access Act, provides for the rescheduling of marijuana, the medical use of marihuana in accordance with state law, and the exclusion of cannabidiol from the definition of marihuana, and for other purposes
    • H.R. 331 States’ Medical Marijuana Property Rights Act, amends the Controlled Substances Act so as to exempt real property from civil forfeiture due to medical marijuana-related conduct that is authorized by state law
    • H.R. 714, LUMMA (Legitimate Use of Medicinal Marihuana Act) – provides for the legitimate use of medicinal marihuana in accordance with the laws of the various states
    • S. 780 and H.R. 1824- Responsibly Addressing the Marijuana Policy Gap Act – Amends the Controlled Substances Act to reduce the gap between Federal and State marijuana policy, and for other purposes
    • S. 775 and H.R. 1823 – Marijuana Revenue and Regulation Act: This measure would de schedule, tax, and regulate cannabis. This bill reintroduces the idea of taxing and regulating marijuana like alcohol, with escalating annual excise tax rates that could top out at 25% of the sales price of the product
    • H.R. 1952 Better Drive Act would amend title 23, United States Code, with respect to the revocation or suspension of drivers’ licenses of individuals convicted of drug offenses, and for other purposes
    • H.R.1013 – Regulate Marijuana Like Alcohol Act – Directs the Attorney General to issue a final order that removes marijuana in any form from all schedules of controlled substances under the Controlled Substances Act.
    • Note: Digital assets are not publicly traded securities for the purposes of Form 8283, unless the digital asset is publicly traded stock or indebtedness
    • Review Pub. 597, Information on the United States–Canada Income Tax Treaty, for information on how to figure the deduction
    • The 50 % limitation applies to:
      • all public charities (code PC)
      • all private operating foundations (code POF)
      • certain private foundations that distribute the contributions they receive to public charities and private operating foundations within 2-1/2 months following the year of receipt, and
      • certain private foundations the contributions to which are pooled in a common fund and the income and corpus of which are paid to public charities
    • The 30 % limitation applies to private foundations (code PF), other than those previously mentioned that qualify for a 50 % limitation, and to other organizations described in § 170(c) that do not qualify for the 50%  limitation, such as domestic fraternal societies (code LODGE)
    • Grantors and contributors may continue to rely on the Pub.78 data contained in Tax Exempt Organization Searchto the same extent provided for in Revenue Procedure 2011-33
    • Review Revenue Procedure 89-23 
    • The client must attach to their return Copy B of the Form 1098-C, Contributions of Motor Vehicles, Boats, and Airplanes, (or other statement containing the same information as Form 1098-C) received from the organization
    • Review Pub. 551 if the client contributes property that:
      • They received as a gift or inheritance
      • Used in a trade, business, or activity conducted for profit or
      • Claimed a casualty loss deduction

    August 2025

    • Guidance regarding what actions non-practitioners may take in response to IRS inquiries is still necessary and authorized under 31 U.S.C. 330
    • Proposed regulations would clarify that ERPAs who passed the ERPA-SEE prior to February 12, 2016, remain authorized to practice before the IRS if they continue to pay the annual user fee described under 26 CFR 300.10(b) and complete the continuing education described in § 10.6(e).
    • Any future user fee will be calculated pursuant to the Independent Offices Appropriation Act of 1952 (31 U.S.C. 9701) and OMB Circular A-25, User Charges
    • Former IRS employees must apply for special enrollment in accordance with 31 CFR 10.4(d)..
    • Forms required for renewal may be obtained by sending a written request to the address specified by the Internal Revenue Service or from such other source as the Internal Revenue Service will publish in the Internal Revenue Bulletin (see 26 CFR 601.601(d)(2)(ii)( b)) and on the Internal Revenue Service website

    September 2025

    October 2025

    November 2025

    • Guidance regarding what actions non-practitioners may take in response to IRS inquiries is still necessary and authorized under 31 U.S.C. 330
    • Proposed regulations would clarify that ERPAs who passed the ERPA-SEE prior to February 12, 2016, remain authorized to practice before the IRS if they continue to pay the annual user fee described under 26 CFR 300.10(b) and complete the continuing education described in § 10.6(e).
    • Any future user fee will be calculated pursuant to the Independent Offices Appropriation Act of 1952 (31 U.S.C. 9701) and OMB Circular A-25, User Charges
    • Former IRS employees must apply for special enrollment in accordance with 31 CFR 10.4(d)..
    • Forms required for renewal may be obtained by sending a written request to the address specified by the Internal Revenue Service or from such other source as the Internal Revenue Service will publish in the Internal Revenue Bulletin (see 26 CFR 601.601(d)(2)(ii)( b)) and on the Internal Revenue Service website

    December 2025

    Files (2024)

    May 2024

    June 2024

    July 2024

    August 2024

    September 2024

    October 2024

    November 2024

    • Statement of Equity: Owner’s Equity (Sch C), Partner Equity (1065), Shareholder Equity (1120S)
    • Section 179 Deduction – Special Depreciation Allowance • MACRS • Listed Property

    December 2024

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    Basics & Beyond, 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 the final authority on the acceptance of individual course for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.