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Description

Product Format : Webinar

Aired Time : Available OnDemand

Duration : 120 minutes

Expert : Robert E. McKenzie

 

Understand the Tax Rules Now to Avoid a Mess with the IRS Later

Gambling and Taxes : The Price of Winning. What happens in Vegas stays in Vegas—often including the Internal Revenue Service’s share of your clients winnings from gambling. And it’s not just Vegas; most states now have some form of legalized gambling. Even in states without legalized gambling, there are internet gamblers—those who travel to gambling venues and those who engage in illegal gambling. As a result, more and more people have gambling winnings or losses. Unfortunately, not all taxpayers maintain adequate records of wins and losses, and many become subject to IRS audits.

Learn the rules and regulations for accounting for gambling winnings and losses in this informative webinar by taxation expert Robert E. McKenzie. McKenzie will review recent cases and rulings—both “for” and “against” taxpayers. Among other things, he will also walk you through the reporting rules for gambling winnings and losses, and show you how to effectively defend an IRS gambling examination.

After attending this webinar ‘Gambling and Taxes: The Price of Winning’, you will be thoroughly familiar with what your clients obligations are toward IRS for your gambling winnings and losses; how you should help keep a record of all gambling winnings and losses; casino reporting requirements, and more!

Session Highlights

This webinar will bring you up to speed with:

  • Casino reporting requirements
  • Taxpayer record keeping requirements
  • Reporting rules for gambling winnings and losses
  • Cases and rulings
  • Effectively defending an IRS gambling examination

NASBA & IRS Category of Study: Taxes

Level: Basic

Who Should Attend:

  • Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Finance and Accounting Professionals
  • Accounting and Taxation Firms
  • Law firms dealing with tax issues
  • Businesses involved in joint ventures with nonprofit organizations
  • Accountants
  • Tax Attorneys
  • Other Tax Preparers

 

 

This event brought to you by EliFinancial

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Additional information

Training Format

Transcript, Webinar, Webinar + Transcript