ACPEN Signature 2025- Small Business: Hot Tax Issues Today

Overview

2025 will be a big year for small businesses no matter what decisions are made:  Will tax cuts/changes enacted as part of the Tax Cut and Jobs Act expire at year end as scheduled or will they be extended? If extended, which provisions are included and how long is the extension?  Will overtime pay be taxed differently in the future causing additional changes to small business payroll systems?  Will employers be relieved of reporting tip income and what exactly is tip income?  What additional requirements may be imposed on employers to deter employment of illegal/undocumented workers?  What requirements and penalties are already in place and what’s coming? What will happen to ongoing judicial efforts of small businesses to fight self-employment taxes imposed by the IRS on LLC Members and active limited partners?  How is the IRS reacting to changes?

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Objectives

• Discuss and review updates to tax laws to assess their impact on clients and identify tax planning opportunities.
• Develop strategies to interact efficiently with the IRS, ensuring compliance and effective resolution of tax matters.
• Understand and implement best practices for minimizing the risk of conflicts with ICE (Immigration and Customs Enforcement)

Highlights

• Legislative update on expiring tax provisions affecting small businesses;
• Legislative update on new tax provisions impacting small businesses;
• Communications with the IRS;
• Tax audits of small businesses;
• Judicial update on self-employment tax litigation on self-employment taxes of partners and LLC members.
• Worker verification requirements and penalties---old and new.
• Tax planning opportunities—old and new.