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Self-Employment Tax for General and Limited Partners: IRS Signals New Enforcement Efforts




Description


Self-Employment Tax for General and Limited Partners: IRS Signals New Enforcement Efforts : 


As the IRS intensifies its enforcement efforts regarding self-employment tax compliance for partners, understanding the nuances of this evolving area is critical for tax and finance professionals. This intermediate-level course focuses on the historic development, current rules, and exceptions surrounding self-employment taxability for general and limited partners. With recent IRS positions shaping audit risks, this topic is more relevant than ever for professionals advising partnerships, S corporations, and other business entities.

Learning Objectives :-

  • Understand the historic development of self-employment taxability for partners.
  • Recognize the general rules and exceptions subjecting partners to self-employment tax.
  • Differentiate between general and limited partners for purposes of self-employment tax.
  • Analyze recent IRS positions concerning self-employment tax and partners.
  • Contrast the exposure of general partners, limited partners, and S corporation shareholders to self-employment tax or FICA.
  • Identify current IRS positions and audit issues related to this topics.


Who Will Benefit:

  • CPA Enrolled Agents (EAs)|
  • Tax Professionals Attorneys
  • Other
  • Tax Preparers
  • Finance professionals
  • Financial planners


Credits and Other information:-

      - Session Duration: 2 Hours

      - Case Studies and Live Q&A session with speaker

      - Power Point presentation for reference

      - Session learning level: Basic

      - Delivery method: Group Internet Based

      - IRS Credits: 2 Tax Hours

       - Recommended field of study – Taxes

       - Session Prerequisites and preparation: None

       - Location: Virtual/Online

       - Attendance Requirement:  Yes


Speaker Profile:

Robert “Bob” W. Jamison- CPA

Robert “Bob” W. Jamison, CPA, Ph.D., is Professor Emeritus of Accounting at Indiana University, Purdue University, Indianapolis (IUPUI). His principal area of specialization is S Corporations. He is the sole author of S Corporation Taxation, and co-author of Multistate Tax Guide to Pass-Through Entities.  He is the author of the 2022 edition of Essentials of Federal Income Taxation.

Bob is a well-known author and speaker on S Corporations. He presents advanced and updated S Corporation seminars for various states’ CPA societies and other professional organizations. Additionally, he consults on S corporation and other business entity problems and has secured private letter rulings from the IRS on behalf of clients.

Bob has a B.A. in Economics from DePauw University., an MBA from Portland State University and Ph.D. from The University of Texas at Austin.



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