U of I Tax School 2010 seminars provide required continuing education credit
August 16, 2010
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The University of Illinois Tax School has announced their 2010 seminar schedule. This year's seminars include several one-day seminars on specific tax topics and 32 seminar locations throughout the state of Illinois for their annual two-day Fall Tax School. All seminars provide Continuing Professional Education (CPE) credit, which is a requirement for Certified Public Accountants (CPAs), Certified Financial Planners (CFPs), Enrolled Agents with the IRS (EAs), attorneys specializing in tax law, and licensed tax preparers. The credits offered vary from seminar to seminar and are determined by the number of hours spent in each seminar session.

The 2010 in-depth seminars are one-day seminars dedicated to one specific tax topic. Each seminar offers 8 hours of CPE. Additional credits are available for attorneys, CFPs, and those professionals registered with the Illinois Department of Insurance.

"Because we change the in-depth seminars topics every year, several factors go into deciding what to offer. First, we look at the feedback we receive from our seminar attendees—what do they want to learn more about? We also try to look at topics that were well received by our Fall School attendees. Usually we can't spend more than an hour or two on a topic in Fall School, so these in-depth seminars are a way to take a popular topic and spend an entire day expanding upon the information taught during Fall Tax School," says Terri Kobel, director of the Tax School.

This year's seminars are offered in several locations throughout the state of Illinois in September and October, and the topics are Social Security Planning: Preparing for the Silver Tsunami; Beyond Form 1120: The Lifecycle of a C Corporation; and Key Farm Tax Issues for Practitioners and Their Clients.

Now in its 70th year, the Fall Tax School kicks off on Monday, October 25, in Champaign. The Fall Tax School, a two-day seminar offered in 32 different locations throughout the state of Illinois, is attended every year by close to 6,000 tax professionals. This year's Fall Tax School offers 16 hours of CPE, including 2 hours of regulatory ethics credit. Additional credits are available for attorneys, CFPs, and those registered with the Illinois Department of Insurance. As in years past, this year's topics for instruction are diverse and include ethics, individual taxpayer problems, small business issues, S corporations, estate and trust taxation, and a variety of IRS and Illinois Department of Revenue updates.

"Our goal is to bring our attendees high-quality and affordable tax education to a location that is convenient for them," says Kobel. The Tax School was also able to move some Fall Tax School locations to less expensive facilities, which in turn allowed the Tax School to drop the registration price. Regarding the price decrease, Kobel said, "Every year we strive to keep our expenses low and, if during these challenging economic times we are able to cut costs, we want to pass those savings on to our attendees."

The Fall Tax School also has a high number of attendees who attend Tax School every year, with 90 percent of the audience being repeat attendees. "Our attendees come back because we are affordable, we come to locations that are convenient to them, we have speakers who are practitioners and truly understand the Tax Code, and because we listen to our attendees' requests and adapt accordingly," says Kobel.

Detailed seminar information:

Social Security Planning: Preparing for the Silver Tsunami (September 13: Collinsville; September 14: East Peoria; September 15: Tinley Park) $185 Early Registration fee ($200 after August 20) Fee includes breakfast, lunch, snack, beverages, materials and up to 8 hours CPE. Illinois MCLE, Illinois Insurance, and CFP credits are also available. The Social Security system is about to be put to the ultimate test as the Baby Boomers begin retiring. This one-day seminar will give you the tools to best advise these clients on developing and implementing a comprehensive plan for drawing social security benefits.

Beyond Form 1120: The Lifecycle of a C Corporation (September 20: Oakbrook Terrace; September 23: Collinsville; September 24: Springfield) $185 Early Registration fee ($200 after August 20) Fee includes breakfast, lunch, snack, beverages, materials and up to 8 hours CPE. Illinois MCLE, Illinois Insurance, and CFP credits are also available. This one-day seminar goes beyond completing Form 1120 and examines special problems that arise during the life of a C corporation. It takes a cradle-to-grave approach in explaining the major tax considerations in forming, operating and liquidating a C corporation.

Key Farm Tax Issues for Practitioners and Their Clients (October 4: Champaign) $185 Early Registration fee ($200 after September 10) Fee includes breakfast, lunch, snack, beverages, materials and up to 8 hours CPE. Illinois MCLE, Illinois Insurance, and CFP credits are also available. This one-day seminar, presented by Roger McEowen, the foremost expert on agricultural taxation, focuses on key issues in farm taxation including qualified production activities deduction, NOL carryback rules specific to agriculture, tax shelter farm rules and information reporting issues. The Ag and Rural Taxation Issues chapter from the 2010 Federal Tax Workbook will also be covered.

2010 Fall Tax School (33 seminar dates/32 locations from October 25 through December 8; for a detailed calendar, visit www.TaxSchool.Illinois.edu/merch/falltaxschool.html) $210 Early Registration Fee ($240 after October 1) Fee includes beverages, materials and up to 16 hours CPE, including 2 hours of Ethics. Illinois MCLE, Illinois Insurance, and CFP credits also are available.

For 70 years, the University of Illinois Tax School has offered high-quality and affordable taxation education in the state of Illinois. Our Fall Tax School is a two-day seminar for tax preparers, CPAs, EAs, CFPs, and attorneys that covers an extensive range of tax topics. In addition to the Fall Tax School, the Tax School offers In-Depth Seminars, webinars, books, and more. To find out more, visit www.TaxSchool.illinois.edu.