LIVE Webinar Event-Debt Cancellation & Bankruptcy Tax Issues

Debt Cancellation & Bankruptcy Tax Issues - LIVE Webinar Event

This LIVE webinar event will be held on 6/24/21 at 2PM ET. You will receive a registration email within 3 business days of purchase. Ticket sales end 30 minutes prior to the start of the webinar. ComPASS holders are already registered for this event.

Buy $79.00

When a taxpayer has debt cancelled, it is taxable income unless there is an applicable exclusion. This course reviews the rules related to income inclusion, how to calculate the income inclusion, the exclusions available to taxpayers, and the tax cost of those exclusions.

Learning Objectives

Understand when a cancellation of debt creates taxable income.
Describe the various exclusions available to avoid tax on cancellation of debt income.
Quantify how the exclusion impact the taxpayer's tax attributes.

Education Information

IRS Program Number: NMVBP-T-00180-21-O

Length: 100 minutes plus optional question-and-answer session (no CE)

Prerequisite: None

Advanced Preparation: None

Program Level: Basic

Delivery Method: Online Group/Internet Based Webinar

Field of Study: Federal Tax (IRS);

Credit hours: 2 CPE/CE

All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators. See below for more information regarding administrative policies, such as complaints or refunds, or contact Sherrill Trovato, EA, USTCP, President of Gregory & Associates, Inc., at 714.777.9359. There are no prerequisites or advanced preparation required for this webinar.

IRS Provider Number: NMVBP This webinar has been designed by Gregory & Associates, Inc. to meet the requirements of the IRS Return Preparer Office, including sections 10.6 and 10.9 of Department of Treasury's Circular No. 230. This does not constitute an endorsement by the IRS RPO.

Webinar Policies, Refunds, Cancellations:

IRS CE credits are available on the on-demand webinars only by receiving a passing score of 70% on the quiz that is available to you after completion of the on-demand webinar. The quiz must be completed within 3 months of the date the on-demand webinar is purchased to qualify for IRS CE credit. Upon completion of the quiz, send an email to [email protected] with your name and PTIN if you wish to have IRS CE credit uploaded on your behalf and your PTIN doesn't appear on the certificate.

Compass Tax Educators provides high quality instruction and content. There are no refunds for the purchase of on-demand webinars, but if you experience technical difficulties while viewing a webinar, contact us to resolve the issue.

If you have any questions regarding our refund policy, or any other administrative policy, please contact Sherrill Trovato, EA, USTCP at 714.777.9359 or Geri Bowman, CPA, EA, USTCP at 330.628.0415.

About the instructor

EA CTP USTCP Thomas Gorczynski

INSTRUCTOR THOMAS A. GORCZYNSKI, EA, CTP, USTCP is the Senior Tax Consultant at Gorczynski & Associates, LLC in Phoenix, AZ. He is an enrolled agent, a Certified Tax Planner, a Fellow of the National Tax Practice Institute (NTPI), and was admitted to practice before the United States Tax Court in 2015. He earned a Master of Science in Taxation from Golden Gate University and a Certificate in Finance and Accounting from the Wharton School at the University of Pennsylvania. His firm specializes in tax preparation for small business owners and individuals with foreign income and asset reporting requirements, tax controversy representation, and advanced tax planning strategies. Tom is a nationally-known speaker on tax law and procedure and has spoken for the National Association of Enrolled Agents (NAEA), the California Society of Enrolled Agents Super Seminars, and other national, state, and local organizations. He also is a skilled technical writer on tax law and strategy and published in EA Journal.

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