Tax Update 2022

Both businesses and individual clients face major changes as a result of tax reform, and tax professionals face the considerable challenge of delivering effective planning advice and services to address this myriad of recent developments. This course addresses this challenge and also encompasses the latest cases and rulings applicable to individual and business clients. Continually updated to reflect enacted legislation.

Learning Objectives

• Understand strategies and techniques to use in light of new legislation
• Understand the latest ¬enacted tax law changes
• Understand current cases and rulings affecting your clients

Topics Covered

• Comprehensive coverage of the Inflation Reduction Act of 2022
• Timely coverage of breaking tax legislation
• Student loan forgiveness considerations
• SBA Disaster Loans (Hurricane Ian)
• Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations
• Donor Advised Funds
• Residency and Domicile
• Selling a Principal Residence, including tax planning strategies
• A comprehensive overview of virtual currency, including important tax considerations in light of increased IRS scrutiny
• Implications of proposed legislation for both individuals and businesses
• How the Code affects tax planning for individuals and business

NASBA Field of Study

Taxation (4 hours)

Program Prerequisites

Experience with individual and business clients

About the Speaker

John L. Evanich, Jr., CPA, is a retired tax partner, formerly with CohnReznick, LLP — the 10th-largest CPA firm in the country. For more than 40 years, John specialized in working with professional service businesses, LLCs, LLPs, and S corporations on tax planning and other tax matters important to them. John has represented taxpayers on hundreds of IRS appeals and court petitions. With over 40 years of experience in public accounting, John is a past president of the Connecticut Society of CPAs (CTCPA), a past member of their Board of Governors, and a former trustee of their Educational Trust Fund. He is also a former member of AICPA Council.

Mr. Evanich has lectured and written extensively on tax issues, both locally and nationally. He is a member of the American Institute of CPAs. In 2015 and 2016, he received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills. He has also served as chairman of many CTCPA committees, most notably the Federal Taxation, State Taxation, Public Relations, and Technical Consultation Services committees. John has also testified on tax matters of concern to middle- and upper-income taxpayers, as well as small businesses, before the Ways and Means Committee of the U.S. House of Representatives, as well as various Connecticut state legislative committees.

Mr. Evanich received a bachelor’s degree in accounting with honors from the University of Bridgeport, Connecticut and completed all course work in the Master’s in Taxation program at Pace University in New York City.