Michael Mares presents the week’s update on major tax issues.

• IRS website www.stayexempt.org with information on the new Form 990.  For additional information and training on the Form 990 please go to www.ficpa.org/catalog and type in keyword 990.  These courses are filling rapidly and additional sessions have been added.
• IRS 2008-99 about transaction of interest, those transactions involving the tax free interest in a charitable remainder trust
• Termination of exemption status for a number of organizations. The IRS has increased their focus in this area to prevent abuse.
• IRS discussion on the Form 990 Part 6
• Employee owned life insurance
• Potential tax scenarios after President-Elect Obama takes office
• And more.

To learn more about the most important tax updates, please see www.ficpa.org/cpe.

The FICPA announces a hot new CPE course, Post-Election Tax Planning Strategies to Implement NOW for Individuals and Closely-Held Businesses (POST). With historic tax changes looming, CPAs need to discuss with clients the best tax planning ideas and strategies that they should consider implementing as soon as possible in 2009. Get the jump on the important issues and help your clients understand their options. These ideas are all specifically directed to address President-Elect Obama's proposed tax changes.