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TRAINING FOR 2011

TRAINING FOR 2011. WHAT’S NEW? WHAT’S CHANGING . OBJECTIVES. WHAT’S NEW STDS OF CONDUCT TAX LAW – FEDERAL & NEW YORK WHAT’S CHANGING SCOPE CERTIFICATION ALTERNATE TRAINING NY3 TRAINING PLAN. WHAT’S NEW. ETHICS/STANDARDS OF CONDUCT TRAINING TAX LAW ENERGY CREDITS EXIST-NEW RULES

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TRAINING FOR 2011

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  1. TRAINING FOR 2011 WHAT’S NEW? WHAT’S CHANGING

  2. OBJECTIVES • WHAT’S NEW • STDS OF CONDUCT • TAX LAW – FEDERAL & NEW YORK • WHAT’S CHANGING • SCOPE • CERTIFICATION • ALTERNATE TRAINING • NY3 TRAINING PLAN

  3. WHAT’S NEW • ETHICS/STANDARDS OF CONDUCT TRAINING • TAX LAW • ENERGY CREDITS EXIST-NEW RULES • NEW RULES FOR SALE OF ASSETS • FORM 8949 - NEW • CREATED TO ENABLE TRACKING OF COST BASIS–SALE OF CAPITAL ASSETS • SCHED D – SIGNIFICANT CHANGES • LOCALLY– NEW LC TRAINING

  4. STANDARDS OF CONDUCT FOUND IN PUB 6744, Pages S-1 thru S-17 THIS FILE ADAPTED FROM NTTC TRAINING FILE

  5. VOLUNTEER ETHICS By law, preparers are required to exercise due diligence in preparation of tax returns IRS has responsibility for oversight to protect tax program integrity and maintain taxpayer confidence

  6. VOLUNTEER ETHICS • Volunteers can be removed, sites closed, IRS support & funds discontinued by IRS • Clients may be subject to examination, litigation or criminal penalties if false return

  7. UNETHICAL DEFINED • IRS-SPEC defines unethical as not conforming to agreed standardsof moral conduct, especially within a particular profession • In most cases, unethical behavior is acted upon with the intent to disregard the established laws, procedures, or set policies • An error or omission that was unknowing is not considered an unethical action

  8. STANDARDS OF CONDUCT • Form 13615, Volunteer Standards of Conduct Agreement, applies to all conduct and ethical behavior in VITA/TCE Program • ALL volunteers must agree to Standards of Conduct, pass a test & sign Agreement prior to working at a VITA or TCE site

  9. STANDARDS OF CONDUCT Responsibility of all volunteers is to provide highest quality, best service to clients

  10. SIX STANDARDS OF CONDUCT 6744 Intro Must follow Quality Site Requirements Must not accept payment or solicit donations for federal or state tax return preparation Must not solicit business from clients or use knowledge gained about them for direct or indirect benefit for self or others May use aggregate data for promotion (e.g., # returns, schedules) but use of $$ amounts prohibited except aggregate for fund-raising

  11. SIX STANDARDS OF CONDUCT 6744 Intro Must not knowingly prepare false returns Must not engage in criminal, infamous, dishonest, notoriously disgraceful conduct, or any other conduct deemed to have a negative effect on the VITA/TCE Program Must treat all taxpayers in a professional, courteous, and respectful manner

  12. FROM FORM 13615

  13. RESIDENTIAL ENERGY CREDITS CHANGES RESTRICTIONS

  14. RESIDENTIAL ENERGY CREDITS • FORMERLY, 30% OF COST, UP TO $1500 FOR 2009 & 2010 • MODIFIED TO BE RETROACTIVE TO 2006 • MUST INCLUDE ANY CREDITS FROM ‘06 & ‘07 • LIFETIME LIMIT $500. • $200 MAXIMUM FOR WINDOWS

  15. NON-BUSINESS ENERGY PROPERTY CREDIT • MAXIMUM FOR RESIDENTIAL ENERGY PROPERTY PLACED IN SERVICE IN 2011. • 10% OF COST UP TO: • $50 FOR MAIN AIR CIRCULATING FAN • $150 FOR QUALIFIED NATURAL GAS, PROPANE, OR OIL FURNACE, OR HOT WATER BOILER • $300 FOR ENERGY-EFFICIENT BUILDING PROPERTY

  16. SCH D & FORM 8949 FORM 8949 INTRODUCED TO TRACK COST BASIS DETAIL DETAILS FOR SALE OF ASSETS HERE SCHEDULE D: SUMMARY OF DATA FROM FORM 8949 INPUT DATA IN TAXWISE VIA CAPITAL GAINS INPUT WORKSHEET

  17. EXTENDERS – 2011 • QUALIFIED CHARITABLE DISTRIBUTIONS (THRU 2011) • EDUCATOR EXPENSES DEDUCTION (THRU 2011) • TUITION AND FEES DEDUCTION (THRU 2011)

  18. EXTENDERS - 2011 • ITEMIZED DEDUCTION FOR GENERAL SALES TAXES (THRU 2011) • NON-BUSINESS ENERGY PROPERTY CREDIT (WITH SOME LIMITATIONS) (THRU 2011) • PRIVATE MORTGAGE INSURANCE DEDUCTION (THROUGH 2011)

  19. EXTENDERS - 2012 • AMERICAN OPPORTUNITIES TAX CREDIT (THRU 2012) • CHILD TAX CREDIT • EARNED INCOME THRESHOLD OF $3,000 (THRU 2012) • EITC FOR THREE OR MORE QUALIFYING CHILDREN (THRU 2012)

  20. NEW YORK • WHAT’S NEW? • TOOLS AVAILABLE

  21. NEW YORK STATE • DISABILITY INCOME EXCLUSION • LITTLE KNOWN • LITTLE USED • UP TO $5200 CAN BE EXCLUDED IF AGI LESS THAN $15,000. • VERY LIMITED ELIGIBILITY • NEED TO ENSURE PEOPLE AWARE

  22. SAME SEX MARRIAGE IMPACT • RULES GOVERNING MARRIED COUPLES APPLY • FED GOVERNMENT DOES NOT RECOGNIZE SAME SEX MARRIAGE

  23. NEW YORK STATE • MUST FILE TWO FEDERAL RETURNS (SGL or HH): • NYS RETURNS –(MFJ, MFS) • NO CAPABILITY IN TAXWISE • BOTTOM LINE: OUT-OF-SCOPE FOR NEW YORK STATE

  24. NEW YORK STATE • 4491-W: RETURNS COMPLETED FOR FED & NYS USING TW 2010 • POSTED ON NY3 WEBSITE • EXCEL SPREADSHEET • LINE BY LINE RESULTS

  25. HUGE THANK YOU • THE TEAM THAT WORKED ON THE RETURNS FOR NEW YORK STATE DAVE AIKENS KAYE CURRY MARCIA LAPIERRE BOB PARSONS

  26. NEW LC TRAINING • CENTRALIZED TRAINING FOR NEW LC’S • SMT MEMBERS PROVIDE TRAINING • ADMINISTRATIVE, NOT TECHNICAL • TWO LOCATIONS • EAST GREENBUSH LIBRARY – 11/28 • POUGHKEEPSIE –CATHOLIC CHARITIESOFFICE – 11/30

  27. NEW LC TRAINING • COURSE INCLUDES • QUALITY SITE REQUIREMENTS • ETHICS • USE OF PORTAL SYSTEM • OFFICE PLANNING • SITE SET UP AND OPERATION • END OF SEASON PROCEDURES

  28. WHAT’S CHANGING • SS LUMP SUM DISTRIBUTIONS • PRIOR YEAR CALCULATION NOW IN-SCOPE • CERTIFICATION PROCESS • ALTERNATIVE TRAINING OPTION • LOCALLY – COUNSELORS COMPLETE SIX PRACTICE PROBLEMS

  29. LUMP SUM SS PAYMENTS • Lump-sum social security payments included as Basic competency • Last year, only current year taxability in scope, but use of numbers from previous year returns in scope this year. • Requires prior year data. • Handled by Worksheets in TW

  30. 2011 Form 1099-SSA With Lump Sum Payment Total from Box 5 = $33,996 Amount for 2010 = $12,948 Amount for 2009 = $5,190 Therefore, the amount for 2011 would be $15,858($33,996 - $12,948 - $5,190) *Includes: $12,948.00 Paid in 2011 for 2010 $5,190.00 Paid in 2011 for 2009

  31. CERTIFICATION PROCESS COUNSELORS NON-COUNSELORS

  32. NOTIFY TRS, ALSO.

  33. NOTIFY TRS, ALSO.

  34. FROM FORM 13615

  35. REPORTING PROCESS • INSTRUCTORS WILL REPORT TO TRS • I WILL MAINTAIN COMPLETE LIST • I WILL FORWARD TO ADS & IRS • ADS WILL UPDATE VMIS • INSTRUCTORS WILL NOTIFY DC/LC

  36. GO TO FORM 13615

  37. ALTERNATIVE TRAINING OPTION APPROACH FOR THE FUTURE STARTING NOW

  38. RECOMMENDATION • ALLOW VOLUNTEERS OPTION TO SELF-STUDY • NOT ABLE TO ATTEND CLASS • USE LINK & LEARN ONLINE TRAINING • TRAINING MANUALS AVAILABLE NY3 WEBSITE • CAN BE DOWNLOADED

  39. RECOMMENDATIONS • TAXWISE ONLINE OR DESKTOP • WORKBOOK PROBLEM RESULTS AVAILABLE FOR FEDERAL AND STATE • PRACTICE LAB • TWO 2011 – READY BY 11/21 • TWO 2010 TRAINING – UNTIL 1/31/12 • PRACTICE LAB – NO STATE SOFTWARE

  40. GUIDELINES • PERMISSION FROM DISTRICTCOORDINATOR. • REQUIRES SPECIAL SCHEDULING OF CLASSES • MUST ATTEND FOLLOWING CLASSES • POLICY & PROCEDURES • IRS STANDARDS OF CONDUCT • NOT MORE THAN ½ TRAINING TIME – SELF STUDY

  41. WHY DO THIS? • ALLOW VIABLE PROGRAM FOR THOSE WHO CANNOT ATTEND CLASS • SUPPORT NEEDS OF VOLUNTEERS FOR DIFFERENT TRAINING OPTIONS • SUPPORT SITES OPEN WKENDS & EVENINGS

  42. WHY DO THIS? • CHANGE IN SOCIETY • INDIVIDUALS MORE MOBILE • INVOLVED IN MULTIPLE ACTIVITIES • MORE COMPUTER LITERATE • USED TO LEARNING VIA COMPUTER

  43. WHY DO THIS? • IRS CONSIDERATIONS • TIME • FLEXIBILITY • EMERGING TECHNOLOGY • COST REDUCTION

  44. NY 3 TRAINING PLAN NEW VOLUNTEERS RETURNING VOLUNTEERS

  45. OBJECTIVES • USE PROCESS BASED TRAINING METHODS • PROMOTE USE OF TAXWISE ONLINE • TRAINING • CERTIFICATION • INTRODUCE ETHICS TRAINING

  46. OBJECTIVES • TIME FOR PRACTICE • SIX PROBLEMS FROM WORKBOOK • INSTRUCTORS AND ALL COUNSELORS TAKE TEST ONLINE • LINK & LEARN • TWO or PRACTICE LAB • CENTRALIZED NEW LOCAL COORDINATOR TRAINING

  47. REQUIREMENTS • INSTRUCTORS PROFICIENT WITH TAXWISE • USE OF TAXWISE FOR PRACTICE • CLASSROOM • HOME, IF FEASIBLE • REVIEW ALL COMPLETED PRACTICE PROBLEMS • ACCURACY • COMPLETENESS

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