Income Tax Schools help prepare tax pros for the season ahead

LITTLE ROCK — Significant changes in tax laws may affect the tax planning strategies for the coming income tax season.

To help professional tax preparers get ready for tax season, the Cooperative Extension Service will offer four in-person income tax schools — and a virtual option — through its Community, Professional and Economic Development unit. While the schools are designed for tax professionals, anyone interested in advanced income tax preparation can register.

“We’ll have a packed agenda this year for sure, given the extensive changes in tax law,” Tax School Director Kim Magee said. “Attendees will leave with knowledge they need for strategic tax planning.”

Earlier this month, Congress passed — and President Donald Trump signed into law — the One Big Beautiful Bill Act, a comprehensive package focused on tax laws and other issues. The law makes permanent some aspects of the 2017 Tax Cuts and Jobs Act that were set to expire at the end of this year.

Income Tax School attendees will learn about developments affecting individual taxpayers, small businesses, and agriculture and rural investments. Instructors will provide IRS updates and review rulings and cases. Other topics include various specialized trusts; Schedule E; ethics; S corporation formation; related-party issues; and real estate rental activity issues.
In-person training will be offered locally, including:
Hope — Nov. 18-19, University of Arkansas-Hope, Hempstead Hall, 2500 S. Main St.
Virtual — Dec. 4-5 (online via Zoom) Books will be mailed; Zoom link emailed
Registration begins at 8 a.m., and classes run 8:30 a.m. – 4:30 p.m. on the first day of class and 8 a.m.- 4:30 p.m. on the second day. A certificate of completion will be emailed to participants.

The cost of the two-day course is $270 before Aug. 22, or $320 after the priority registration deadline. Those interested can register online.

The Income Tax School is approved by the IRS as a continuing education provider. Participants can earn 16 hours of continuing professional education credit, including two hours of ethics.

For more information, contact Kim Magee at (501) 671-2081 or kmagee@uada.edu, or visit https://uaex.uada.edu/taxschool.