The Tax Professional Empowerment Series

The Tax Professional Empowerment Series

Ransopher, Tedrick & Smeal, LLP * 82 Thompson Street * Alpharetta, Ga. 30004

Phone: 770-475-4444 Fax : 770-475-4408

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The Tax Professional Empowerment Seminars brings focus to topics that are of interest to individuals practicing in the area of taxation. These individualized seminars provide information that enlighten and brief participants on issues surrounding tax controversies, as well as information on various legislative enactments and asset protection trusts. In addition, the variety of subject matter is ideally suited and designed for keynote speeches and introductory sessions.

• Tax Court Procedure
• The IRS and Tax Controversy Process
• Special Partnership Issues
• Asset Protection Trusts
• JGTRRA 2003

Tax Court Procedure

Very few non-attorney tax practitioners know that they can practice in the U. S. Tax Court once they successfully meet the criteria to sit for and pass the Tax Court Examination. This seminar deals with the procedure of representing a client’s tax controversy in U.S. Tax Court. The discussion is geared to provide insight into improving the success rate of tax dispute negotiations and to increase knowledge of the U. S. Tax Court, as well as prepare for the Tax Court examination. Included in the seminar are:

• The Organization of the U. S. Tax Court
• Statutory Notice of Deficiency
               * Last Known Address
               * Due Process Hearing
• Tax Court Jurisdiction
               * Choice of Forum
• U. S. Tax Court Rules of Practice & Procedure
• Procedure for filing a U.S. Tax Court petition
• Pleadings
• The Office of Chief Counsel
• Motions, Pre-Trial Fact Development, Discovery
• Procedure during Trial
               *Burden of Proof
• Small Tax Case Procedure
• U.S. Tax Court Brief

The IRS and Tax Controversy Process

When a tax controversy arises, the client needs representation that has knowledge as to the process as well as on the actual tax matter. This seminar emphasizes the structure and purpose of each step in the adversarial process. Included in the course, as outlined, is when does the tax matter reach a level that mandates filing a U. S. Tax Court petition.

• IRS Organization
• Functional Units
        *National Taxpayer Advocate
        *Criminal Investigation
        *Appeals
• Operating Divisions
         *Wage & Investment
         *Small Business/Self-Employed
         *Large & Mid-size Business
         *Tax Exempt & Government Entities
• Compliance Organization Structure
• Practice Before the IRS and Preparer Penalties
        *Powers of Attorney
        *Preparer Penalties and Disciplinary Actions
        *Adequate Disclosure, “Reasonable Cause”, “Good Faith”, “Willful Negligence”
• Examination of Returns and IRS Investigating Powers: Trends and Benchmarks
• IRS Appeals
        * Protest Process
        * Settlement in Appeals
        * Closing Agreements
• Liens, Levys and The Collection Due Process Procedure
• U.S. Tax Court
        * Tax Court Jurisdiction and the Courts that Impact a Tax Case
        * Small Case
        * Deficiency vs. Refund
        * Employment Determination
        * Which Court to Choose and Why

Special Partnership Issues

This seminar deals with the special issues unique to "partnerships". Specifically, this day seminar looks at Partnership Audits, Notice Partners, Tax Matter Partners, 1982 TEFRA, Responsible party and more. The material includes adjustments at the partner level, judicial determination of issues relating to partnership items and determination as to who is the party, or parties, to the proceeding. A brief course outline is as follows:

• Notice Partners
        *Who is a member of a "5-percent group" under the Code?
• Tax Matters Partner
        *Duties Unique to Tax Partners
        *First Right to Commence Litigation
• Audits
        *Procedure
        *Rights of the Parties
        *Statute of Limitation
• Responsible Parties
        *What Happens When the Partnership is Dissolved?
• Forum Shopping that is Unique to Partnerships
        *Venue Considerations
        *Interpleader
• Special Statutory Notice Issues in Partnerships

Asset Protection Trusts

The interest in protecting one's assets continues to be at an elevated rate in today's litigious society. The structure of trusts and the historical impact on the structure, provisions and considerations that are necessary to choosing a trust and the situs of the trust, as well as the tax consequence, are but a few of the significant issues to be considered. This planning strategy seminar provides the tax practitioner and financial planner with an outline of the strengths and pitfalls of the available options.

• Trust Protector

• Duress Provision

• Flight Provision

• Custodian Trustee Provision

• Trust Situs – International or Domestic
Advantages and Disadvantages

• Trustee Considerations

• Tax Considerations

• Conclusion

JGTRRA 2003

May 2003 saw the "Growth Tax Relief Reconciliation Act" passed into law. This complex tax law accelerates some 2001 Tax Act provisions, yet dramatically reduces income tax rates on capital gains and dividends. As the significance of the law varies, the tax practitioner needs to have knowledge as to where the taxpayer may fall. This seminar helps highlight components of the law and provides insight into future ramifications to both individual and business entities.

• Reduced Tax Rates – Individuals
        * Capital Gains & Dividends
        * Income Brackets
        * 5-Year Property Rate
        * Exceptions ("Traps") to the Rates
• Business and Corporate Relief
        * Small Business
• Section 179
• Like-Kind Swaps
• Bonus Depreciation
• "Claim of Disallowance"
        * Corp. Estimated Tax Postponement
• Changes Since 2003

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