Client had capital gains of $5M and invested in an Opportunity zone 1 property and hence got deferral. However client now is getting a buyer who is interested in buying the Opportunity zone 1 property. Client would like to know if he can still keep the original gain of 5M deferred by reinvesting in another Opportunity Zone property 2 if he sells the Opportunity Zone 1 property.
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Issue Number: IR-2020-234
Inside This Issue
Online seminars from 2020 IRS Nationwide Tax Forums now available
Tax pros: 18 new self-study seminars available for continuing education credit
WASHINGTON — The Internal Revenue Service today announced 18 new seminars from the 2020 Nationwide Tax Forums are now available on IRS Nationwide Tax Forums Online. The cost is $29 per seminar.
These self-study seminars provide information to participants using interactive videos, PowerPoint slides and audio transcripts.
These and all other previously recorded sessions from prior IRS Nationwide Tax Forums will be available for $29.
2020 Nationwide Tax Forums Online course listing
The following is the comprehensive list of the new 2020 courses available:
These 18 courses are available in addition to the more than 60 previously recorded sessions from prior years still available for credit or to audit.Advocating for Immigrant Taxpayers Advocating for Taxpayers with Collection Information Statements Be Tax Ready – Understanding Eligibility Rules for EITC, AOTC, CTC and Head of Household Filing Status Bipartisan Budget Act of 2015’s Centralized Partnership Audit Regime (The) Charities & Tax-Exempt Organizations Update Créditos Reembolsables (In Spanish) Diligence in Practice before the IRS: Record-Keeping Federal Ethics for the Tax Professionals: Office of Professional Responsibility (OPR) and Circular 230 Impact of Non-filing and Non-payment IRS Key Enforcement Issues Keys to Mastering Due Diligence Requirements and Audits Keynote Address Preparation of Form 1040-NR, U.S. Nonresident Alien Income Tax Return Retirement Plan Distributions, Loans and More Tax Changes from a Forms Perspective Tax Cuts and Jobs Act (TCJA) Update: Opportunity Zones Tax Cuts and Jobs Act (TCJA) Update: Qualified Business Income Deduction Update from the IRS Independent Office of Appeals
Continuing education credits information
The IRS Nationwide Tax Forums Online is registered with the IRS Return Preparer Office and the National Association of State Boards of Accountancy as a qualified sponsor of continuing education. For a fee, CPAs, Enrolled Agents and Annual Filing Season Program participants taking NTFO seminars can earn continuing education credits.
To earn credit, users must create an account, answer review questions throughout the seminar and pass short tests at the end of the seminars.
NTFO seminars can also be audited for free. Individuals who choose to audit seminars will not have access to the review questions or final examination. They will not receive credit for the seminars.
For more information please visit www.irstaxforumsonline.com.
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