Retirement Distributions: Planning Options

Overview

This course provides a comprehensive overview of two critical aspects of tax practice: the professional standards that govern the provision of tax advice and the legal privileges that protect certain taxpayer communications. Participants will explore the statutory, regulatory, and professional requirements imposed on CPAs when advising clients, including how to effectively communicate tax positions and comply with applicable standards. In addition, the course examines the scope and limitations of confidentiality privileges available to CPAs, including protections under Internal Revenue Code Section 7525, the work product doctrine, and the Kovel doctrine. Through this combined focus, tax professionals will gain a deeper understanding of both their ethical responsibilities and the legal considerations that impact their client relationships.

Highlights

• Roth IRA: The right choice —
• Income tax treatment of distributions from retirement plans of all types
• Laws, regulations and IRS rulings concerning plan distributions
• Avoiding penalty on distributions that happen too early or too late
• Beneficiary choices - eligible or not —
• Self-directed IRA investment problems

Prerequisites

Experience in individual tax preparation and planning and general knowledge of retirement plans.

Objectives

• Recognize key income and penalty tax issues in connection with retirement distributions
• Determine how the death of an account owner or beneficiary affects distribution calculations
• Identify the pros and cons of various beneficiary choices to assist your client in selecting the best options

Preparation

None.

Notice

This is a self-study/on demand course offered by a 3rd party vendor and will NOT be accessible in the My Upcoming CPE section of the ISCPA website. Course access information will be emailed directly to you by CalCPA. The course expires one year from the purchase date. Format = Online Self-Study.