2022 Midwest in Motion

This Page Contains all the Event and Registration Information.  Please scroll down!

Dates: June 16 and 17, 2022; Registration and breakfast at 7:30 am; Seminar starts at 8:00 am each day.

FEES for the In-Person event:

NAEA Members BOTH days: $365 

Either Thursday or Friday [one day]: $215     

Non-Member Either Thursday or Friday: $230

Non-Members BOTH days: $395

THE SEMINAR FEE INCLUDES: 16 CE credits, printed program materials, continental breakfasts, box lunches, break refreshments, two drink tickets and appetizers for the Thursday evening mixer.  You can change to a virtual registration at any time but there are no refunds for the price difference after June 1, 2022.

Plus unlimited networking opportunities!

Location: Wyndham Chicago O'Hare, 1450 E. Touhy Ave., Des Plaines, IL 60018

              Will you need a hotel room?  Reserve ASAP:  The rate is $109 plus 14% tax.  To reserve:

1. Email: emagallanes@oharewyndham.com
2. Hotel link: www.wyndhamhotels.com/hotels/49301  under special rates add group code 061422ILL
3. Direct Booking link: https://www.wyndhamhotels.com/wyndham/des-plaines-illinois/wyndham-chicago-ohare/rooms-rates?brand_id=HR&checkInDate=6/14/2022&checkOutDate=6/17/2022&useWRPoints=false&children=0&groupCode=061422ILL&adults=1&rooms=1&loc=ChIJbR3nekSwD4gRushGbnohXek&sessionId=1651601034

FEES for the Virtual event:

NAEA/IAAI Members BOTH days: $245 

Either Thursday or Friday [one day]: $130/day    

Non-Member either Thursday or Friday: $145/day

Non-Members BOTH days: $265

THE SEMINAR FEE INCLUDES: 16 CE credits; materials electronically; add $25 perday for a copy of the paper materials; orders for the paper materials must be received by June 10th.

Schedule: 

Registration/breakfast: 7:30 to 8:00 am

Seminar: 8 am to 4:30 pm each day; 8 hours of CE each day!  Including 2 Ethics CE

Thursday, 4:30 pm: Annual Members' Meeting and Installation of Officers & Directors

Thursday, 5:15 pm: Networking Mixer

Speaker & Topics

Our speaker this year is: Kathryn Morgan EA, USTCP

DAY 1: TAX TOPICS
1. Residential Rentals:  Money Pit or Hidden Gem (2 hours) IRS Program #: UB57Y-T-00168-22-I

      Run down of putting a residential rental into service, the way things carry to the tax return, depreciation, disposition, and limitations. This will include short term/vacation rentals

2. The Gig Economy  ( 2 hours) IRS Program #: UB57Y-T-170-22-I

      This session includes transportation gigs, rentals, and things like “go fund me” and more.  This is  timely due to the new 1099 K rules coming out. Discussion will include AirBNBs. 

3. The Tax Aspects of Cancellation of Debt (COD: Foreclosures, Exclusions, bankruptcy, NOLs, and Attribute Reductions (2 hours) IRS Program #: UB57Y-T-00171-T-I

      How COD plays into tax returns, basis, and other tax issues.  

 4. LOSSES IN THE ERA OF TCJA  (2 hours) IRS PROGRAM #: UB57Y-T-00167-22-I

      The TCJA has made changes in how many of our carryforward losses are treated.  The major change is to the Net Operating Loss (NOL).  We will review the various types of losses impacted by the TCJA and then do a deep dive into the new world of the NOL.  We will work through the changes in the carrybacks, carryforwards, timelines, and amount allowed to be used in the carryforward years.  This will include working practice problems using the interaction between the NOL and other pieces of the TCJA legislation, like QBID.

DAY 2: REPRESENTATION TOPICS

1. Statutory Notice of Deficiency, Liens, and Levies UB57Y-00172-T-22-I (4 CEs)

        What happens before and during the NOD process.  Your client’s options and timelines and alternatives.

       What happens to a taxpayer who gets into a lien or levy situation, the background and the client’s options for fixing it. 

3. Tax Research Tips & Techniques for Citations, Court Cases & Basis Reconstruction (2 hours)  UB57Y-00166-22-I

       How to research tax citations, use them effectively on the return and in correspondence with the IRS.  How to reconstruct the basis on items in an audit.

4. Due Diligence:  It's not just for EITC anymore (2 hours) (Ethics) UB57Y-E-00165-22-1

       A detailed dive into due diligence from the tax professionals’ side of the desk including items needing due diligence, case studies and preparer penalties and preparer audits.

For updates on this and other education programs, connect with us:

Twitter: @IllinoisSocEAs Facebook: Illinois Society of Enrolled Agents - ILSEA

47 W Division, #199, Chicago, IL 60610

VoiceMail: 773-977-8290     Website: www.ilsea.org