2009 Federal and State Income Tax Institute

The 55th Annual Federal and State Income Tax Institute

• General Information
• 2009 Tax Topics
• 2009 Tax Sites and Dates
• Registration and Fee Information
• Valuable Resource Materials
• Continuing Education Credits
• About the Presenters
• Frequently Asked Questions
• Contact Information
• Tax Brochure PDF

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General Information

For 55 years, UNL has partnered with the IRS and the Nebraska Department of Revenue to bring the best training to tax preparers across Nebraska. Attendees receive current and comprehensive tax information from trusted presenters, resource materials, and continuing education and legal credits, including ethics.

The two-day Tax Institute is offered eight times in seven cities across Nebraska. Each year more than 1,000 tax practitioners gain valuable knowledge at the Annual Federal and State Income Tax Institute.

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2009 Tax Topics

Experienced tax presenters will lead you through selected content from the 2009 National Income Tax Workbook. The workbook is a comprehensive study manual written and reviewed each year by CPAs, tax attorneys, IRS agents and tax practitioners.

IRS and Nebraska Department of Revenue representatives will also discuss IRS issues and Nebraska tax law changes.

New Legislation

• American Recovery and Reinvestment Act
• Unemployment tax exclusion
• Tax deduction on new vehicle purchase
• Cash for Clunkers
• AMT exemption
• First-time home buyer credits
• Cobra health insurance

Individual Taxpayer Issues

• Definition of a qualifying child/qualifying relative
• Married filing jointly versus married filing separately
• Kiddie tax
• Individual assistance funds

Business Issues

• Going out of business
• Differential wage payments
• Tax treatment of loan expenses
• Retirement
• Options for the unemployed
• Repeal of required minimum distribution rule for 2009
• Financial distress reverberations including plan losses
• Conversion of IRA to Roth
• IRA distributions: penalty exceptions
• Investment Issues
• Zero percent capital gains rate for 2009 and 2010
• Conversion of residence to a rental
• 529 plans (losses)
• Losses on stocks, bonds and mutual funds
• Abandonment
• Worthless securities
• Ponzi scheme losses

Business Entities

• Health insurance
• Reasonable compensation/guaranteed payments
• Late and flawed S elections
• Basis in S corporations and partnerships
• New single member LLC EIN and liability rules
• IRS Issues
• What the IRS expects you to know
• Preparer penalties
• Audit issues
• Collection process

Ethics and Tax Practices

• Office of professional responsibility
• Abusive return preparers
• Engagement letters
• Exceptions to the accuracy-related penalty under I.R.C. § 6662
• Penalty for disclosure or use of information by tax (I.R.C. § 7216)
• Net Operating Losses
• Computation and available carry back and carry forward provisions

Agricultural Tax Updates

• Five year recovery period for new farm machinery
• Losses on qualified deferred payment contracts
• Transition from farm production to ag tourism

Nebraska Tax Law Changes

• Electronic filing and preparer penalties
• Modernized e-filing program and individual income tax forms
• Contractor registration fees and withholdings

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2009 Sites and Dates

Conference Sites and Dates
Lincoln, Nebraska (Lincoln 1) NEW SITE! - Holiday Inn Lincoln - Downtown 141 N. 9th Street Lincoln, Nebraska 68508	November 2-3, 2009 Monday - Tuesday	Holiday Inn Lincoln - Downtown 141 N. 9th Street Lincoln, Nebraska 68508 (402) 475-4011
Gering - Scottsbluff, Nebraska NEW SITE! - Gering Civic Center 1050 M Street Gering, Nebraska	November 9-10, 2009 Monday - Tuesday	Monument Inn Suites 1130 "M" Street Gering, Nebraska (866) 436-1950
North Platte, Nebraska Holiday Inn Express 300 Holiday Frontage Road North Platte, Nebraska 69101	November 12-13, 2009 Thursday - Friday	Holiday Inn Express 300 Holiday Frontage Road North Platte, Nebraska 69101 (308) 532-9500
Kearney, Nebraska Holiday Inn Convention Center 110 Second Avenue Kearney, Nebraska 68847	November 16-17, 2009 Monday-Tuesday	Holiday Inn Convention Center 110 Second Avenue Kearney, Nebraska 68847 (308) 237-5971
Grand Island, Nebraska Interstate Holiday Inn 7828 South Highway 281 Grand Island, Nebraska 68803		Interstate Holiday Inn 7828 South Highway 281 Grand Island, Nebraska 68803 (308) 384-7770
Norfolk, Nebraska Conference Site: Northeast Community College Learning Center 801 East Benjamin Norfolk, Nebraska 68701	November 23-24, 2009 Monday - Tuesday	Holiday Inn Express 920 South 20th Street Norfolk, NE 68701 (402) 379-1524
Omaha, Nebraska Omaha Marriott 10220 Regency Circle Omaha, Nebraska 68114	Nov. 30- Dec. 1, 2009 Monday - Tuesday	Omaha Marriott 10220 Regency Circle Omaha, NE 68114 (402) 399-9000
Lincoln, Nebraska (Lincoln 2) NEW SITE! - Holiday Inn Lincoln - Downtown 141 N. 9th Street Lincoln, Nebraska 68508	December 3-4, 2009 Thursday - Friday	Holiday Inn Lincoln - Downtown 141 N. 9th Street Lincoln, Nebraska 86508 (402) 475-4011

Downtown Lincoln Parking Information: Map

Search for detailed maps and driving instructions from your location to anywhere courtesy of MapQuest.

Visit this page for updates.

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Registration and Fee Information

Registration Fee

Early registration before close of business October 19, 2009: $235.00

General registration after close of business October 19, 2009: $255.00 - both registration fees include all materials and refreshment breaks.

Registration Includes

• 2009 National Income Tax Workbook, a production of the Land Grant University Tax Education Foundation, Inc. This 600 + page workbook is a comprehensive study manual written and reviewed by CPAs, IRS agents, and tax practitioners.
• 2009 RIA Tax Handbook
• Nebraska Department of Revenue publication
• Presentation by a representative from the Nebraska Department of Revenue
• Presentation by a representative from the IRS
• 2009 National Income Tax Workbook CD
• Morning break refreshments
• Afternoon break refreshments
• Continuing Education Credit for CPAs, Enrolled Agents, Insurance Agents and Certified Financial Planners Continuing Legal Education (MCLE) for Nebraska Attorneys (See the Continuing Education section).

Five Easy Ways To Register

• Online - REGISTER NOW
• Phone - Call (402) 472-2423, provide registration information
• Fax - Completed Registration Form to (402) 472-1264.
• E-mail - Registration information to conferences@unl.edu
• Mail - Print brochure and complete registration form and mail to:
  • UNL Conference Registration
  • 1700 Y street
  • University of Nebraska-Lincoln
  • Lincoln, Nebraska 68588-0694
• For Payments by check or Purchase Orders, please use the mail option above - make check payment to University of Nebraska.

If you are interested in receiving a brochure, please email us at conferences@unl.edu

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Valuable Resource Materials

The registration fees include the following:

• 2009 National Income Tax Workbook, a production of the Land Grant University Tax Education Foundation, Inc. The 600 + page workbook that you will receive is a comprehensive study manual written and reviewed by CPAs, IRS agents, and tax practitioners.
• 2009 RIA Tax Handbook
• Nebraka Department of Revenue publication
• IRS Electron Filing publication & updates
• 2009 National Income Tax Workbook CD

All Tax Professionals, public and industry, who need the latest and necessary tax changes for their individual, partnership, corporate and estate clients should attend.

"The tax class more than paid for itself"

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Continuing Education

The University of Nebraska - Lincoln has approved the institute for 16 clock hours (1.6 continuing education units). Each attendee who attends the 2 day Tax Institute will receive a Certificate of Attendance.

CPAs, Tax Practitioners:
16 hours CPE
2 hours ethics
Pending approval of the Nebraska State Board of Public Accountancy.

Insurance Agents:
16 hours general
2 hours ethics
Pending approval of the Nebraska Department of Insurance.

Certified Financial Planner^TM Certificants:
18 hours
Approved by the Certified Financial Planner™ Board

Attorneys:
12 credit hours CLE
2 credit hours ethics or special responsibility
Pending approval of the Nebraska MCLE Commission.

Enrolled Agents:
18 hours total, including 2 hours ethics
* Approved by the Office of the Director of Practice, Internal Revenue Service

The UNL Tax Institute has agreed with the office of the Director of Practice, Internal Revenue Service to meet the requirements of section 10.6(g) of Treasury Department Circular No. 230, enrolled-agent certification, covering maintenance of attendance records, retention of program outlines, qualifications of instructors and length of class hours. Please refer to sponsor number 110 on all correspondence with the Office of Director of Practice. This agreement does not constitute an endorsement of the director of practice as to the quality of the programs or its contribution to the professional competence of the enrolled individual. Enrolled agents will receive 18 hours of credit toward certification.

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About The Presenters

The Federal and State Income Tax Institute features the most experienced tax presenters in the area to provide you with the expert guidance you need to minimize tax liability and avoid errors. Frank Gaines, Gary Bredensteiner and Jan Mumm will guide you through new legislation and income tax updates for the 2008 filing season.

Janice Mumm, CPA, presents at numerous continuing education programs, including programs for the Nebraska Society of Certified Public Accountants and the Nebraska Society of Tax Practitioners. She's known for her dynamic ability to convert technical materials into easily understood concepts.

Mumm is a founding shareholder and president of the accounting firm, Mumm & Associates, P.C. She’s experienced in accounting, tax and financial planning for businesses and individuals. As a former IRS employee, Mumm gained expertise in income, employment and estate taxes. She is a former council member of AICPA, vice president of NSCPA Foundation, and past chair of NSCPA. Mumm has a master’s in professional accountancy.

Frank Gaines' wide range of experience and unique approach makes even the most problematical tax matters clear and comfortable. Gaines has instructed programs for the Nebraska Society of Certified Public Accountants and the Nebraska Society of Tax Practitioners. This is his 40th year presenting at the income tax institute.

Gaines is an Enrolled Agent at Mumm & Associates, P.C. He assists practitioners with complex tax problems and with representations before the IRS. In 1994, Gaines retired from the IRS after 33 years in a variety of examining and instructing capacities.

Gary Bredensteiner's diverse experience in the tax profession includes management, business and agribusiness planning. His candid approach is perfect for presenting the complex tax topics and updates, which he has done for 13 years at the income tax institute.

Bredensteiner is an Enrolled Agent at Nebraska Farm Business, Inc. He spent 27 years as the coordinator of the Nebraska Farm Business Association, working with Nebraska farmers and ranchers to provide financial analysis of their operations. He retired as director of farm management operations with the Institute of Agriculture and Natural Resources, University of Nebraska Cooperative Extension. Bredensteiner has a bachelor's in agricultural economics from Iowa State University, and a master’s in agricultural economics and accounting.

Dawn Holtmeier has a 27-year career with the Nebraska Department of Revenue, working primarily with the public in taxpayer service situations. Holtmeier has extensive experience dealing with sales and use taxes, withholding taxes and income tax programs. She has spoken at external training seminars, and has extensive experience providing taxpayer assistance to individual taxpayers.

Margaret Sherard presents seminars on sales and use tax, microenterprise tax credit, and income tax for the Nebraska Department of Revenue. She provides information to individuals, businesses and tax preparers to ensure compliance with state tax programs. Sherard spent 2.5 years as a revenue auditor and has worked in taxpayer services for 3.5 years.

Michelle Paschke, CPA, has spent 30 years at the IRS auditing tax returns in various divisions, teaching IRS income tax courses to new Revenue Agents, and teaching excise taxes to specialty agents. Paschke is a Stakeholder Liaison for the IRS Small Business/Self-Employed Division. She communicates plans to stakeholders and taxpayers to improve taxpayer service, enhance enforcement of the tax law and reduce taxpayer burden.

"The instructor brought the new tax information down to earth with practical examples and helpful information to help me understand the new developments"

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Frequently Asked Questions

1. How do I register?

• Online - REGISTER NOW
• Download brochure
• Phone - Call (402) 472-2423, provide registration information
• Fax - Print seminar brochure (available in September), complete registration and fax to (402) 472-1264.
• E-mail - Registration information to conferences@unl.edu
• Mail - Print brochure, complete registration form and mail to:
  UNL Conference Registration
  1700 Y street
  University of Nebraska-Lincoln
  Lincoln, Nebraska 68588-0694

2. What is the fee?

Early registration before close of business October 19, 2009 is only $235.00. The registration fee after close of business October 19, 2009 is $255.00 - these fees includes all materials and refreshment breaks. For materials included, see Valuable Resources.

3. Is using the online registration secure?

Yes, payment is completed through a secure site at The University of Nebraska-Lincoln.

4. How is the registration confirmed?

If you register online, a confirmation e-mail will be sent to you immediately.

If you register by phone or fax, a confirmation email will follow within five business days of receipt of registration.

5. Must I pre-register?

We recommend pre-registration, as each site can reach capacity. To ensure availability of space and materials, pre-register early. Walk-in registrations are not guaranteed, and are accepted based upon space and workbook availability.

6. How will the charge for the seminar appear on my credit card?

The charge will appear as "University of Nebraska."

7. Can I purchase only the textbook?

The textbooks are available only with the full registration. If you register and are unable to attend, send an email (conferences@unl.edu) request to have the textbook and materials shipped. There may be a limited number of textbooks remaining but these will only be available after December 15, 2008.

8. I cannot attend the session for which I registered. Can I transfer to another site?

Transfer to another site is permissible, subject to space availability. To transfer to another site, please call the (402) 472-2423.

9. Can another person from my office go in my place?

Transfer of a paid registration to another person is permissible. Call (402) 472-2423 or e-mail conferences@unl.edu to change the registration.

10. What are the dates and locations of the seminars?

See the 2009 Sites and Dates section.

11. What do I need to bring?

Materials and the textbook will be distributed at check-in. It is advisable to bring along writing implements and note paper. While every effort is made to have the meeting space comfortable for everyone, it is always a good idea to bring a light jacket or sweater along for comfort.

12. Will I receive Continuing Education Credits (CEUs)?

Continuing education hours are approved for:

• Enrolled Agent
• Certified Financial Planner

Please see the Continuing Education section for more information.

13. Will Ethics hours be available?

This program was developed to provide two (2) hours of Ethics Continuing Education Unit credits at each site. Professional agencies may differ in the application of these ethics hours toward your requirements.

14. How will my attendance be verified?

At the beginning of each day each attendee will check-in with the University of Nebraska Tax Representative. For some CEUs/CLE’s, the attendee will be required to sign out-in at lunch and at the end of the day.

15. What if I have to cancel my registration?

If you register but cannot attend, you may transfer your registration fee to a colleague or request a refund. Cancellations will be accepted until 7 days prior to your scheduled conference and registration fees will be refunded, less a $30.00 processing fee. No refund request will be accepted for cancellations less than 7 days prior to your scheduled institute, or for no shows. Cancellation can be made by sending an email to conferences@unl.edu.

16. What if I need to use my cellular phone or pager?

All phones and pagers should remain SILENT while in session room. Please use professional discretion.

17. Special Accommodations

If you need special accommodations or have special requests, please advise us when you register in the “Comment” section.

18. Tax Deduction for Educational Expenses

Treasury Regulation 1.1652-5 permits an income tax deduction for educational expenses undertaken to: (1) maintain or improve skills in one’s employment or other trade or business, or (2) meet express requirements of an employer or a law imposed as a condition for retention of employment, ob status, or rate of compensation.

19. How should I dress?

Meeting room temperatures vary. Therefore, wear layers of clothing is recommended for comfort.

20. Where do I find the most update information on the Tax Institute?

Visit this page for updates.

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Contact Information

Registration Questions: (402) 472-2423
Information and General Questions: Virginia Uzendoski at (402) 472-9334
Email: conferences@unl.edu
Registration Fax: (402) 472-1264

Send payments to:
UNL Conference Registration
1700 Y street
University of Nebraska-Lincoln
Lincoln, Nebraska 68588-0694

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