What the SECURE 2.0 Act of 2022 Means to Tax Professionals
Tony Curatola is the Joseph F. Ford Professor of Accounting and Tax at Drexel University in Philadelphia. Tony’s area of research is the taxation of individuals, small businesses owners, and retirement income. He has authored over 230 articles in his field and has completed sponsored research for external groups. His findings have appeared in media such as Forbes, The Washington Post, Wall Street Journal, and The New York Times. He is the editor of the tax column for Strategic Finance, and the author of several interactive education courses for Thomson Reuters. He holds a variety of leadership positions in accounting associations, including the Institute of Management Accountants. Dr. Curatola earned his B.S. in Accounting ’75 and MBA in Finance ‘77 from Drexel University, M.A. in Accounting ’79 from The Wharton School of the University of Pennsylvania, and Ph.D. in Accounting ‘81 from Texas A&M University.
This session highlights the tax and non-tax provisions of the SECURE 2.0 Act of 2022. Although many of the provisions are not effective until after December 31, 2024, some are effective upon enactment of the legislation. For example, the 50 percent excise tax for failing to take a RMD is reduced to 25 percent and the RMD age increases to 73 in 2023.
Thus, clients are going to hear a lot about the new legislation from the media and are going to expect you to be up on the issues. Thus, this webinar will present the changes to the legislation, illustrate them, and highlight the effective dates so that you can be ready to respond to your client’s inquiries.
Areas Covered
- Review the tax provision changes that are effective after the date of enactment
- Apply the new retroactive first year elective deferral rules for sole proprietors
- Review the change of the additional 6 percent tax on corrective excess contributions
- Present the other tax provision changes that are effective in the following year
- Discuss the status of the extender provisions
Course Level - Basic and Intermediate
Who Should Attend
Tax preparers, CPAs, Accountants, Financial Planners, Consultants
Why Should You Attend
Saving for retirement is achieved in a variety of ways: Social Security, Employer sponsored retirement plans, and individual retirement plans. The SECURE 2.0 Act modifies and introduces tax provisions encouraging employers to sponsor retirement savings and individuals to participate in such plans. But like most tax laws, the interpretation of the law may be tricky to understand and, in this case, may be effective in the current year or a later year. Therefore, this session discusses the most relevant new provisions and modifications introduced by the SECURE 2.0 Act.
Topic Background
This recently enacted tax law impacts many Internal Revenue Code tax sections pertaining to retirement income for businesses and individuals.
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$200.00
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