Contact Us 
Income Tax Seminar and Tax Ethics
CPA Ethics Seminar
Introductory Tax Preparation Seminar

55th Tax Seminar

The Income Tax Seminar is a two day continuing education program providing an intensive study of the tax law and regulation governing individuals, small businesses, and farms. It is designed for persons with tax experience. Preparation of both federal and state taxes will be covered. Experienced CPAs, EAs, Virginia Tech faculty, and the IRS will examine new tax laws and their implications.

Continuing Professional Education Credits

CPE for Enrolled Agents
16 hours General Session
+ 2 hours for each subject Evening session not available at all locations
18 Potential Total Hours

This seminar is an approved CP provider with the IRS.

CPE for CPAs

National Association of State Boards of Accountancy Logo

Virginia Board of Accountancy

16 hours General Session
+ 2 hours1 for each subject Evening session not available at all locations
+ 2 hours of Ethics Evening session ($80 extra) 2
20 PotentialTotal Hours

1. Delivery method = group-live, course type = update, & no prerequisites. Virginia Tech Continuing and Professional Education is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
2. The course content includes ethics material required by the Virginia Board of Accountancy for the calendar year of 2015

CE for CFPs
CPE Logo 16 hours General Session credit only
The CFPTM Board accepts Land Grant University Tax Education Foundation (Virginia Tech is a member of this organization) program for CFPTM CE for 2014. Application will be made for 2015.

MCLE for Lawyers
13.5 Hours General Session credit only
MCLE Credits were approved for Virginia from 1988 to 2014. Application will be made for 2015 credit. If you are interested in another state please contact us prior to registering.

CE for Insurance Agents

16 Hours General Session credit only
The Income Tax School is an approved sponsor for continuing education credits in the state of Virginia for the 2015-2016 Biennium (Sircon).


2015 Locations & Schedule

General Session
16 Hours
2 Hours

General Session Fee 16 Hours

General Session w/ Late Fee
Oct. 25)

CPA Ethics 2 Hours (Additional $80)

Richmond I

Marriott West
4240 Dominion Blvd. Glen Allen, VA 23060

Nov. 2
$345 $375
Nov. 3


Southwest Higher Ed Center
1 Partnership Circle Abingdon, VA 24210

Nov. 9
$305 $335
Nov. 10


Hilton Garden Inn
4025 Wards Rd Lynchburg, VA 24502

Nov. 11
$305 $335
Nov. 12

Weyers Cave

Blue Ridge Community College
College Ln, Weyers Cave, VA 24486

November 16-17
Nov. 16
$305 $335
Nov. 17

Falls Church

VT NOVA Center
7054 Haycock Rd Falls Church, VA 22043

November 18-19
$315 $345


Hotel Roanoke
110 Shenandoah Ave NW, Roanoke, VA 24016.

November 23-24

Nov. 23
$325 $355
Nov. 24


Holliday Inn Dulles
45425 Holiday Dr Dulles, VA 20166

Nov. 30 - Dec. 1
MD Tax Nov. 30
$345 $375
Dec. 1


Hospitality House Hotel and Conference
3801 Plank Rd Fredericksburg, VA 22401


Dec. 2
$320 $350
Dec. 3


Fort Magruder
6945 Pocahontas Trail Williamsburg, VA 23185

Dec. 7
$320 $350
Dec. 8


Chesapeake Conference Center
900 Greenbrier Circle Chesapeake, VA 23320

$320 $350
Dec. 9

Richmond II

Double Tree by Hilton
1021 Koger Center Blvd Richmond, VA 23235

December 14-15
$320 $350
Dec. 14

Schedule: General session: 8:30am - 4:45 PM (12:00pm Plated lunch). Evening Farm Session: Starts at 4:50 PM and ends at 6:30 PM. Evening Ethics sessions for CPA's who signed up for standalone ethics: starts at 4:50 PM and ends at 6:30 PM.

*There will be a Maryland Tax presentation from 4:50 - 6:30 PM on Nov. 30, 2015 at no additional fee.

  • New legislation
  • Affordable Care Act
  • Net Investment Income Tax
  • Individual Taxpayer Issues
  • Agricultural & Natural Resource Issues
  • Business Entities
  • Tax Practice
  • IRS Issues
  • Retirement
  • Repair and Capitalization Regulations
  • Fiduciary Tax Issues
  • Foreign Tax Issues
  • Selected Rulings and Cases
  • Evening Sessions at selected locations
    • Farm Session
    • Maryland Presentation
    • Ethics Session ($80 extra)
Learning Objectives


Upon completion of this course, tax practitioners will be able to:

1. Identify new tax legislation enacted in late 2014 through 2015, organized by subject matter to help participants quickly identify topics and includes the following:

  • A brief summary of each provision
  • Cross-references to other chapters to help participants find further information on some of the topics
  • A table of effective dates to help participants keep track of when provisions expire

2. Verify selected new rulings and cases that were issued from September 2014 through August 2015 by the IRS and the courts.

3. Better understand the Affordable Care Act with emphasis on the employer mandate and the individual mandate.
Topics include:

  • Marketplace excise tax
  • Controlled groups and affiliated entities
  • Issues for separated spouses and new marriages

4. Better understand the implications of the repair and capitalization regulations discussed in the 2014 Tax Workbook including:

  • Accounting policies
  • When and how to file the Form 3115
  • A decision tree to help practitioners comply with the rules

5. Analyze and consult with clients on the following business issues:

  • Net investment income tax grouping considerations
  • Sale of § 1250 property
  • Per diem rules for travel expenses
  • Controlled groups

6. Review topics that affect farmers including:

  • Livestock transactions
  • Farmer net investment income tax issues
  • Inherited property
  • Payments to landowners: oil and gas issues
  • Income tax on farm transfers
  • Commodity Credit Corporation loans

7. Be able to deal with the following individual issues:

  • Mortgage interest
  • Schedule K-1 (Form 1041)
  • Gift tax returns
  • Applicable federal interest rates for gifts and loans
  • Innocent spouse rules
  • Virtual currencies
  • Basis and holding period for transferred assets

8. Identify key issues the IRS is targeting for practitioners including:

  • IRS’s “Dirty Dozen” list of tax scams
  • Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code
  • Options for disclosing foreign financial assets
  • Trust fund recovery penalty
  • Taxpayer Advocate Service

9. IRS Tax Ethics

10. Address tax practice issues that may be encountered by tax preparers,
including but not limited to:

  • Working with incomplete records
  • Pros and cons of extending the statute of limitations
  • What triggers an audit
  • Power of attorney issues
  • How to report tax practitioner misconduct

11. Understand common retirement tax issues including:

  • Form 1099-R, Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
  • Sale of business followed by retirement
  • Non-qualified annuities
  • Checklist for retirement planning tax issues

12. Better advise clients who own a small business entity as to the following:

  • Selection of business entity
  • Effect of entity selection on taxability of cancellation of debt income
  • Allocation of partnership liabilities among partners or LLC members

13. Deal with the term “trade or business”, which is not defined in the Code, including:

  • Defining allowable deductions under §162, IRC
  • Identifying income subject to self-employment tax under §1402(a)
  • A discussion of cases that define activities that are included in a trade or business and the consequence of not being a trade or business

14. Help your clients with tax planning involving net operating loss issues including:

  • Death of a spouse with an NOL from a joint return
  • Carryover/carryback planning
  • Election out of carryback: effect of low or high taxable income in future years

15. Recognize tax accounting issues such as:

  • The timing of inclusion of income and expenses under the cash and accrual methods
  • The requirements for selecting an overall tax accounting method
  • Whether the method selected for tax reporting must be the same method as the method for bookkeeping
    • Inventory accounting
    • Uniform capitalization (UNICAP)
    • Deferred recognition of income on installment sales
    • Reporting and withholding on employee tips
    • Procedures for changing tax accounting methods

16. Recognize provisions limited by income such as:

  • IRA contributions
  • Student loan interest deduction
  • U.S. savings bond interest exclusion
  • Itemized deductions
  • Personal and dependent exemptions deduction
  • Credits
    • Earned income credit
    • Child tax credit
    • Child and dependent care credit
    • Retirement savings contribution credit
    • Education credits



Book, CD & More
The searchable CD covers the 2015, 2014, 2013, & 2012 Textbooks. The textbook covers, in detail, the topics listed. It is a comprehensive study manual written and reviewed by CPAs, tax attorneys, IRS agents, and tax practitioners. The text is used in more than 25 states. The speakers focus on selected topics from the book and provide additional materials. A supplement will provide additional material from the state and the speakers.


L. Leon Geyer JD

Rick Beason CPA
George C. Gretes EA
Glenna Mackenzie EA
Lillian Young CPA
Vaughan M. Long EA
IRS Instructors

©2015 Virginia Tech Income Tax School