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Live Webcast Replay

ACPEN Signature 2024: Partnership & LLCs Tax Return Preparation

Total Credits: 8 including 8 Taxes - Technical



LLCs and partnerships continue to present some of the greatest challenges for return preparers and advisors.  This program will address the latest developments:

  • New IRS audit initiatives
  • An SE tax update for LLCs and partnerships
  • Disregarded entity rules and transactions
  • Common allocation problems
  • Identifying various types of partnership debt properly for basis purposes
  • The 754 election in the sale of interests and at death
  • Reporting LLC and partnership interests on gift and estate tax returns and valuation of closely held businesses and minority interests

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to

Basic Course Information

Learning Objectives
  • Learn about new IRS audit initiative
  • Learn to avoid allocation and basis calculation errors
  • Identify disregarded entities for income tax purposes and how those are treated differently under other taxes
  • Learn how partnerships and LLCs are addressed in estate and gift tax reporting rules

Major Subjects
  • IRS audits
  • Allocations and Basis
  • Proper reporting
  • Valuation of closely held business interests

Course Materials


J. Michael Inzina, CPA, CGFM, CGMA's Profile

J. Michael Inzina, CPA, CGFM, CGMA Related Seminars and Products

J. Michael Inzina, CPA, CGFM, CGMA is president and CEO of Audit Litigation Training and Efficiency Consulting, Inc. (ALTEC), a consulting company serving the accounting and auditing community in audit efficiency, training, ethics and litigation support.  In 2020 he retired from public practice after forty-four years, concentrated in governments, financial institutions, public utilities and nonprofit organizations.  Mike holds a BBA in accounting from the University of Louisiana (Monroe), where he graduated summa cum laude in May 1976.  He is a member of the American Institute of CPAs, the Society of Louisiana CPAs, the Association of Government Accountants and the GFOA, and earned the CEA in governmental in 1990.  He was awarded the Certified Government Financial Manager (CGFM) designation in 1996, and the Certified Global Management Accountant (CGMA) designation in 2012.  Mike is a past chapter president and member of the Society of Louisiana CPAs Board of Directors and served two terms as chairman of the Governmental Positive Enforcement Program of the Louisiana State Board of CPAs.  He has served on numerous committees of the Society of Louisiana CPAs, and presently is a member and past chairman of its Ethics committee.                  

Mike has twice served as a member of the AICPA Professional Ethics Executive Committee (1986-1989, and 2000-2003), and served as a member of the AICPA Auditing Standards Board from 1997 to 2000. From 1986 to 1993, he served as a member of AICPA Independence and Behavioral Standards Subcommittee, and was Subgroup Chairman of the Governmental Technical Standards Committee.  During this time he conducted numerous investigations of complaints filed by federal, state and local agencies alleging substandard performance of audits of governmental and nonprofit entities, and represented the Professional Ethics Division at hearings of the Joint Regional Trial Board.

He contributed to the GASB Statement 34 Implementation Guide, AICPA Statement of Position 98-3, the industry audit and accounting guide Audits of State and Local Governmental Units, the AICPA Practice Aid to SAS 99 (fraud) and assisted in revisions to the Louisiana Governmental Audit Guide and in drafting state legislation affecting governmental accounting and auditing requirements. He has served as technical consultant and instructor for the Louisiana Division of Administration (Office of Community Development), and as consultant to the Louisiana Department of Education.  Mike frequently appears as moderator and panelist on the Accountants CPE Network.                             

He has been named thirteen times as an Outstanding Discussion Leader by the American Institute of CPAs and the Louisiana, South Carolina and West Virginia state societies.  He received a Special Recognition Award from the Society of Louisiana CPAs Board of Directors for his contributions to continuing education in 1994, and was awarded the 2001 National Education and Training Award from the Association of Government Accountants.  In 2009, Mike was named national Beta Alpha Psi Business Information Professional of the Year. In 2016, he received the Distinguished Service Award from the Society of Louisiana CPAs.

Laura A. Billingsley, CPA, MS Acc, MEd's Profile

Laura A. Billingsley, CPA, MS Acc, MEd Related Seminars and Products

Laura A. Billingsley, CPA, MS Acc, MEd, is an executive editor of PPC products for the Tax & Accounting business of Thomson Reuters in Carrollton, Texas, where she is responsible for the technical content and annual update of several PPC products. She is a coauthor of PPC’s Guide to SSARS Preparation EngagementsPPC’s Guide to PCAOB AuditsPPC’s Guide to Religious OrganizationsPPC’s Practice Aids for Audits of Oil and Gas Entities, and PPC’s Guide to Fraud Risk Assessments; and a contributing author to PPC’s Guide to Compilation and Review Engagements, PPC’s Guide to Managing an Accounting PracticePPC’s Guide to Write-up ServicesPPC’s Guide to GAAS, PPC’s Guide to Audits of Financial Institutions, PPC’s Guide to Dealerships, and The PPC Accounting and Auditing Update newsletter. She has been an observer at the AICPA Accounting and Review Services Committee meetings for more than 20 years. Before joining Thomson Reuters, she was a senior audit manager at PricewaterhouseCoopers LLP, where she managed attest, business assurance, and consulting engagements for both small business and public company clients. Ms. Billingsley is a member of the American Institute of Certified Public Accountants. 


Wed, Nov 27, 2024 - 09:00am to 05:00pm CST
Wed, Nov 27, 2024 - 01:00pm to 09:00pm CST
Mon, Dec 09, 2024 - 09:00am to 05:00pm CST
Mon, Dec 09, 2024 - 01:00pm to 09:00pm CST
Fri, Dec 13, 2024 - 09:00am to 05:00pm CST
Fri, Dec 13, 2024 - 01:00pm to 09:00pm CST
Mon, Dec 23, 2024 - 09:00am to 05:00pm CST
Mon, Dec 23, 2024 - 01:00pm to 09:00pm CST
Fri, Dec 27, 2024 - 09:00am to 05:00pm CST
Fri, Dec 27, 2024 - 01:00pm to 09:00pm CST
Fri, Jan 03, 2025 - 09:00am to 05:00pm CST
Fri, Jan 03, 2025 - 01:00pm to 09:00pm CST
Wed, Jan 15, 2025 - 09:00am to 05:00pm CST
Wed, Jan 15, 2025 - 01:00pm to 09:00pm CST

Additional Info

Basic Course Information



Advanced Preparation


Designed For

Industry and Public Accountants

Original Recording Date



Yellow Book


Course Developer

Business Professionals' Network (ACPEN)

Date Added to Catalog


Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints.

Official Registry Statement

Business Professionals' Network, Inc. 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:

Instructional Delivery Method

Group Internet Based

Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.

Course Registration Requirements

Online Registration