of the North Carolina Society of Accountants
Post Office Box 1126, Conover, NC 28613
828-695-2520 or 866-755-NCSA FAX: 828-695-2522
Inside this Issue A Message From The President
Chapter News 2
J. R. Lawson, Jr.
Plug-in Car Credit 3 As we begin a new year, let me thank you for allow-
Jennings Tax Seminar 3 ing me to be your President. It is a great honor, and I am
ISP Change 3
humbled to be your President. Like those that I follow, I
Minimum Wage 3
Taxpayer Advocate’s hope to live up to your expectations.
Report to Congress 4 It now officially is summer, and we all are working
Collection of Large harder than ever to make a living. So I know how valu- J. R. Lawson, Jr.
Dollar Balances 4 able your time is, and I won’t ask for it selfishly, but I
The Engagement will ask for it for our Society.
Our most pressing issue is that of membership. We have a tremendous
Modification Program 5 offer for prospective members in a free year membership, and all of us should
The Budget is Law 6 try and get a new member in the upcoming year and get our membership back
NCSA Fall PAS 6 to the numbers it used to be. Our Membership Committee is hard at work
coming up with new ideas to bolster our present membership. We owe these
NCSA Survey members all the support we have.
NCSA Fall PAS Brochure We have a full calendar of events during the 2009-2010 year [see the cal-
PTI Registration Brochure
endar at the end of this issue], and I hope you will take advantage of all of
1040 Seminar Registration
them. These events will enhance your personal and business goals and assure
____________________ you of a “return on investment.” As the old adage goes, “Nothing ventured,
HELP NEEDED! nothing gained.” Please join us for all of these events; you won’t be disap-
Education is a big part of pointed.
NCSA’s mission. Continuing In conclusion, again let me thank you for support, and we’ll make this year
Professional Education (CPE) is one to remember. The Society is only as good as its’ members.
needed by all to keep current
with changing laws or to just
“brush up” on the basics. To
make sure our members’ needs
are satisfied, a CPE Survey is
included with this newsletter.
Please complete the survey and
return it by August 22 so we can
begin planning the educational
seminars and classes that NCSA
will sponsor. Without YOUR
input, we have no way of know-
ing if YOUR needs are being
met. Thanks for a chance to Western Chapter Officers attended the NCSA Leadership Conference in
serve your needs. Bill Fischer, Greensboro on July 18th. L-R: Wendell Capes, Deanna Capes, William Butler
As the North Carolina Legislature continues to work on a balanced budget, I have but one comment.
Support Your Chapter – Attend Meetings! - (Bill Fischer, Chapter News Editor)
The monthly meeting was on July 23, at Kimbers Restaurant in Gibsonville. Officers for 2009-2010 were installed by NCSA
Past President Stephen Metelits.
President - James Holmes Vice President - Esco Babatunde
Secretary - Susie Helton Treasurer - Joyce Padmos
Mr. Peter Henry spoke on “Chocolate in the Office.”
Cape Fear Chapter (9 members & 1 guest) met at The Barn Restaurant in Fayetteville on July 20. Ron Darden from Darden,
Miranda & Associates spoke on Business Insurance for 1 hour of CPE.
The August meeting will be on Monday, August 17, at the Brass Lantern in Dunn. North Carolina Insurance Commissioner
Wayne Goodwin will be the speaker.
The July meeting was held on the 27th at the Pavilion Restaurant in Greensboro.
Charlotte Chapter met at the Mecklenburg County Library in Matthews on July 27. Evette Davis from the IRS spoke on IRS
The next meeting will be on August 24. NSA and NCSA Past President Paul Bumgarner will speak on Elder Care.
The July meeting was at the home of Ken and Colene Cockrell at the lake on Saturday, July 18.
NCSA President J.R. Lawson, Jr., installed officers for 2009-2010 at the June meeting.
President – David L. Hooker Vice President – L. Dean Gunter
Secretary – Dianne Benson Treasurer – Joyce Workman
The Chapter met on July 30, at Moose Café @ Farmer’s Market, in Colfax. NCSA Past President L. Dean Gunter conducted
a review of the American Recovery and Reinvestment Act of 2009 (ARRA).
The August meeting will be at 6:30 pm on the 27th tentatively at Clark’s Barbecue in Kernersville. The discussion of the
ARRA of 2009 will be continued.
Raleigh Chapter (8 members & 4 guests) met on July 28, at Manchesters Bar & Grill in Raleigh. NCSA President-elect Bill
Fischer installed Chapter officers for the 2009-2010 year.
President – Larry Grossman Vice President – Frank Brown
Secretary – Mary Fuller Treasurer – Robert Pia
Peter Henry gave an extremely informative talk on chocolate and its healthy properties.
The next meeting will be on Tuesday, August 25. Details to be announced.
Installation of officers for the 2009-2010 year by NCSA Past President Gale Champie was the order of business at the July
28th meeting held at Shoney’s Restaurant on Long Shoals Road in Arden. Five members attended.
President – James N.E. Helgreen Vice President – Wendell Capes
Secretary – Deanna Capes Treasurer – William Butler
The next meeting will be August 25. Topic and location to be announced.
NEWS IS A FLEETING THING. WE CAN ONLY REPORT WHAT WE ARE TOLD. PLEASE MAKE
SURE YOUR CHAPTER IS SHARING WITH THE ACCOUNTANT.
Please e-mail information to email@example.com or fax to 910-867-1757.
Earlier Tax Assessments
Certain taxpayers will get their state tax bills much sooner than ever before due to a recent law change implemented in
Taxpayers who submit returns that show tax owed but who do not pay will receive final notices of tax due approximately
45 days faster than in the past. That’s because the NC Department of Revenue no longer has to send proposed assessments to
taxpayers who submit returns without paying the tax due. The proposed assessment gave the taxpayer a chance to respond to
the tax due amount and possibly request a conference or hearing about the taxes, which typically resulted in a delay of at least
45 days before the taxpayer received a final notice and paid the taxes.
This is a result of GS 105-241.22 which eliminates the need for the proposed assessment when certain criteria are met:
• The period begin date for the return filing period should be January 1, 2008, or later.
• The assessment must be issued after the return is due. This means that final assessments will not go out for taxpayers
who have filed for an extension.
• For returns with on-line and automatic line item adjustments, the calculated tax due must be equal or less than the
“taxpayer tax due.”
When these criteria are met, the tax becomes collectible immediately and the taxpayer will receive a final assessment. At
that point, the taxpayer should respond to the notice and pay the taxes. Taxpayers who cannot pay their taxes also may contact
the Department about the possibility of a payment plan once they receive their final assessment.
Plug-in Car Credit
In Notice 2009-58, the IRS explains the qualified plug-in vehicle credit applies to new specified vehicles that are acquired
after February 17, 2009, and before January 1, 2012. The amount of credit for a vehicle is limited to $2,500. No credit is al-
lowed under IRC §30 for a vehicle that is acquired after February 17, 2009, and before January 1, 2010, if the credit for quali-
fied plug-in electric drive motor vehicles under §30D is allowable for vehicles placed in service in taxable years beginning after
December 31, 2008.
A “specified vehicle” means any vehicle that is a low-speed vehicle or has 2 or 3 wheels. A “low-speed vehicle” means a
vehicle that has at least 4 wheels; is manufactured primarily for use on public streets; that is not manufactured primarily for off-
road use, such as for use on a golf course; whose speed attainable in one mile is more than 20 miles per hour on a paved, level
surface; and whose gross weight rating is less than 3,000 pounds.
A vehicle manufacturer (or, in the case of a foreign vehicle manufacturer, its domestic distributor) may certify to purchas-
ers that a vehicle of a particular make, model, and (if applicable) model year meets all requirements that must be satisfied to
claim the qualified plug-in vehicle credit under §30.
Jennings Tax Seminar
This perhaps is the most up-in-the-air year for tax changes in the last decade. Laws already have been passed that will
make profound changes in the advice we give to our clients. Congress still is in session and liable to make more significant
changes to the tax laws, but even they don’t know what changes will be wrought.
All this means that this is a year you must go to a tax school. The best one is the Jennings 1040 Tax Seminar being offered
by NCSA. It is not too late to get the early-bird member price. The classes are November 2-3. The price includes lunch both
days. The brochure is with this issue of The Accountant. Please enroll now.
If you have had trouble getting e-mail to people “@alltel.net,” it is for a very good reason. The ISP has changed the ad-
dress to “@windstream.net.” The next addition of the Directory will have the altered addresses. In the meantime, change your
mailing lists to account for this change.
The minimum wage in North Carolina currently is $6.55 an hour. Employers doing business in North Carolina are re-
quired to pay at least that much to all employees (agricultural and domestic employees are subject to the federal minimum
Effective July 24, 2009, the federal minimum wage rose to $7.25 per hour, which now makes it the minimum rate for
There is a change for “tipped” employees. For an employer to be able to count tips as wages and take a tip credit towards
the minimum wage, the employer must notify employees in advance and be permitted to retain all tips, and requires that the
employer maintain accurate and complete records of tips received by each employee. Tip pooling is permitted as long as the
tipped employees retain at least 85% of the tips they receive.
Taxpayer Advocate’s Report to Congress
National Taxpayer Advocate Nina Olson delivered a report to Congress identifying the priority issues the Office of
Taxpayer Advocate will address in the coming fiscal year. Among the areas the report identifies for particular emphasis
in FY 2010 are:
1. A directive from the House and Senate Appropriations Committees in FY 2006 originally was motivated by concern
that the IRS taxpayer services often were ad hoc and not sufficiently coordinated or research-driven. The Advocate’s
report expresses concern that the momentum to implement and refine the Taxpayer Assistance Blueprint (TAB) rec-
ommendations has been abated. It recommends that the IRS reinvigorate its efforts to pursue cross-functional, re
search-driven service requirements.
2. Tax return preparers complete about 62% of all individual tax returns and, therefore, play a critical role in facilitating
tax compliance. The Advocate reiterates her longstanding recommendation that the government do more to protect
taxpayers by regulating unenrolled federal tax return preparers, including requiring initial testing and continuing CPE,
and recommends that the IRS step up enforcement actions against preparers who fail to perform due diligence or con-
sciously facilitate noncompliance. She further recommends that the IRS require return preparers to us PTINs on all
3. For the past 9 years, the Advocate has expressed concern about the effectiveness of the Offer in Compromise (OIC)
program. The Advocate believes the IRS requires taxpayers to provide too much information with the initial applica-
tion, thereby deterring taxpayers who legitimately qualify for the program from applying for it.
The American Recovery and Reinvestment Act of 2009 temporarily increased the refundable portions of the EIC and
child tax credit and authorized several new refundable credits, including the “Making Work Pay” credit, the
“American Opportunity” education credit (40% is refundable), the first-time home buyer credit (up to $8,000), and a
credit for certain federal and state pensioners. Refundable credits present significant administrative challenges for the
Collection of Large Dollar Balances
In an audit report from the Deputy Inspector General for Audit on how collection actions could be accelerated on
some large dollar balance accounts, a review was conducted on the status of individual taxpayer accounts that owed more
than $1 million and the actions taken by the IRS to collect the amounts owed.
While the majority of taxpayers owing $1 million or more are actively pursued for collection, some taxpayer ac-
counts were identified where actions could be taken to accelerate accounts to field personnel for investigation and possi-
ble enforcement action. By accelerating accounts where taxpayers owe $1 million or more, it is estimated that the IRS
potentially could collect approximately $12.1 million.
On December 22, 2007, there were 2,454 individual taxpayers in the IRS’ potentially collectible inventory who each
owed more than $1 million in taxes, penalties, and interest. While 2,006 were being actively pursued for collection , 448
accounts were identified totaling approximately $1.2 billion that were in the Queue or had been shelved, 214 of these
were in this status for more than a year.
IRS officials are taking steps to correct two of the three factors causing some large dollar accounts to linger in the
Queue or in shelved status for an extended period of time. The first factor was a programming flaw in the Inventory, De-
livery System that allowed accounts to remain in shelved status even when the taxpayer’s account reaches a balance or $1
million or more. IRS officials are working to resolve this.
The second factor involved another computer programming problem. Some accounts could not be located in the EN-
TITY Case Management System. Erroneous codes were preventing the accounts from appearing in the group managers’
inventory in the ENTITY and a computer programming change would be implemented to resolve the problem.
The third factor is the criterion used in the ENTITY for deciding which accounts are accelerated to the field for col-
lection. The ENTITY currently is programmed to identify and accelerate accounts with assessments of $1 million or
more, but it does not take into consideration the related interest and penalty accruals that continue to add to the total ac-
count balance. As a result, individuals who owe a combination of taxes assessments, interest, and penalties that could far
exceed $1 million can have their accounts linger in the Queue or remain shelved while others who owe less have their
accounts accelerated to the field for investigation and possible enforcement action.
THE ENGAGEMENT LETTER:
AN ESSENTIAL RISK MANAGEMENT TOOL
[The following article is from the July issue of the Activity Review with the permission of Lisa Hearne, Communications
Manager, NC State Board of CPA Examiners. Remembering the source and the relevance of the material, mentally sub-
stitute “accountant” for “CPA” in the article].
It is no secret that the accounting profession’s clients are more litigious now than they were a few years ago.
As the accounting profession takes on more roles in order to remain competitive, lawsuits now delve into a wider
range of issues. Where once they were largely generated by tax and audit work, lawsuits now derive from compilation
and review, write-up, and management advisory services.
Many lawsuits involving CPAs are the result of a communication breakdown (or “expectation gap”) between the
CPA and the client. In many situations, the client’s understanding of the scope of services to be performed and how the
work product will be utilized may be quite different from the CPA’s understanding of these issues.
Although engagement letters are not required legally, they are strongly encouraged. A properly drafted engagement
letter can serve as a helpful risk-management tool by establishing a legal framework for a working relationship with a
While the engagement letter itself may vary with the level of service or type of engagement to be provided, common
provisions in most engagement letters include the following:
• Identification of client;
• Description of the engagement and its limitations;
• Timing of the work and staffing of the engagement;
• Client information and responsibilities;
• Designation of the party to work with the CPA;
• Identification of intended users of the CPA’s work product;
• Fees and payments;
• Withdrawing from and/or terminating the engagement;
• Responding to discovery requests, subpoenas, and outside inquiries;
• Alternative dispute resolution as a means of resolving disputes;
• Where applicable, disclosures recommended or required by the AICPA; and
• Client signature.
Home Affordable Modification Program
Large numbers of homeowners are struggling to afford their current monthly mortgage payments and are at risk of
losing their homes. In Rev. Rule. 2009-19, the federal government announced the Homeowner Affordability and Stabil-
ity Plan (Plan), which helps at-risk homeowners modify their mortgages to avoid foreclosure.
The Home Affordable Modification program (HAMP), a key component of the Plan, helps homeowners who have
defaulted, or are at risk of default, on their mortgages because, for example, they are suffering serious hardships, de-
creases in income, increases in expenses, and high mortgage debt compared to monthly income.
Under HAMP, homeowners that make timely payments on their modified loans are eligible to have incentive pay-
ments made on their behalf to lenders/investors. Each month a homeowner makes a mortgage payment on time, the
homeowner accrues an amount toward a Pay-for-Performance Success Payment. A payment of the accrued amount is
made annually, to reduce the principal balance on the homeowner’s mortgage up to $1,000 a year for up to 5 years.
If a homeowner benefits from Pay-for-Performance Success Payments under HAMP, the payments are excludable
The Budget is Law
At last, the Legislature passed the budget. Included in the Senate Bill 202 were 24 pages of tax law
changes. While you probably heard about most of the law changes, here are some of the more important
• Income tax surcharge–An income tax surcharge is imposed on individuals and corporations retroactive to
January 1, 2009, and expires for tax years beginning on or after January 1, 2011. For head of household,
the rate is 2% over $80,000 and 3% over $200,000. For singles, the rate is 2% over $60,000 and 3% over
$150,000. For married separate the rate is 2% over $50,000 and 3% over $125,000. For others, the rate
is 2% over $100,000 and 3% over $250,000.
• Sales tax–Starting September 1, 2009, and before October 1, 2009, the sales and use tax rate is 5.5%. After
that, it is 5.75%. This also covers remote sales (formerly mail order).
• Alcohol excise tax–For beer, the rate is 61.71¢ per gallon. For unfortified wine, the rate is 26.34¢ per liter.
For fortified wine, the rate is 29.34¢ per liter. For liquor, the rate is 30% of the distiller’s price plus the
ABC warehouse freight and business charges and a markup for local ABC Boards.
• Tobacco products–For cigarettes rate is 2.25¢ per cigarette. Other than cigarettes, the rate is 12.8% of the
price of the product.
• Conformity with the Internal Revenue Code is updated to May 1, 2009. The exception for accelerated de-
The Fall PAS will be on October 3 at the Asheville Reniassance Hotel. John Ayers, CPA, will give an 8
hour class on Tax Basis Compilation and Review Finances for 8 hours of CPE. The cost is $139 for members
($159 for non-members) before September 9. Call the hotel directly at (828)252-8211 by September 2 men-
tioning that you are with the North Carolina Society of Accountants for the special room rate of $159 per night.
Stay over for the NSA District IV meeting on October 4. Or enjoy the color of the leaves in Fall in the
mountains. It is a great chance to get away. The brochure is with this edition of The Accountant.
NCSA Schedule of Events 2009-2010 OFFICERS
PRESIDENT – J. R. LAWSON, JR.
2009 2200 Silas Creek Parkway 7B
Winston Salem, NC 27103
August 12-15—NSA Convention—San Diego, CA 336-794-2525
August 17-19—IRS Carolina Tax Forum—
Hilton University Place, Charlotte
PRESIDENT-ELECT – WILLIAM S. (BILL) FISCHER
October 3—NCSA Fall PAS— 711 Dandridge Drive
Renaissance Asheville Hotel—Asheville—8 a.m.-5 p.m. Fayetteville, NC 28303-2000
October 4—NSA District IV Meeting— 910-864-4114
Renaissance Asheville Hotel—Asheville—8 .am.-Noon firstname.lastname@example.org
October 23—Practitioner’s Forum—
Wyndham Garden Hotel, Greensboro—8 a.m.-5 p.m. SECRETARY – CHERYL C. HUDSON
3856 Dunn Road
November 2—Board of Directors Meeting— Eastover, NC 28312
Embassy Suites, RDU, Cary—5:30 p.m. 910-223-0200
November 2-3–Jennings 1040 Tax— email@example.com
Embassy Suites, RDU, Cary—8 a.m.—4 p.m.
TREASURER – JOHN L. BLANTON
November 16-17–PTI–Clarion Hotel, Greensboro 2200 Silas Creek Parkway 7B
November 17-18–PTI–Holiday Inn Airport, Charlotte Winston Salem, NC 27103
November 19-20–PTI–Ocean Reef, Myrtle Beach, SC firstname.lastname@example.org
IMMEDIATE PAST PRESIDENT –
June 4—Board of Directors Meeting DENISE J. HAMMOND
P.O. Box 938
Ba ck Pag e St a
ory He dline
June 4-6—NCSA Convention—TBD Morganton, NC 28680-0938
July 17–Leadership Conference & Board Meeting— 828-437-7058
Embassy Suites, Greensboro email@example.com
September 17-18–Fall PAS
September 17–Board of Directors meeting Candace Cansler, Executive Director
September 19–District IV meeting P.O. Box 1126
Conover, NC 28613
October 22–Practitioners’ Forum 866-755-NCSA(6272) toll-free
November 1-2–Jennings 1040 Tax 828-695-2520 (v) 828-695-2522 (f)
May 20–Board of Directors Meeting
THE ACCOUNTANT EDITOR – STEPHEN METELITS
May 20-21–Spring PAS—Jennings Compilation & Review
June 26–Board of Directors Meeting
The Accountant is distributed with the understanding the publisher is
not engaged in rendering tax, legal, accounting, or any other profes-
sional advice and assumes no liability or responsibility whatsoever in
connection with its use. You are urged to do research before acting
upon any information appearing in this publication. Opinions expressed
in The Accountant are those of the editor and contributors. The Ac-
countant is published monthly by the North Carolina Society of
Accountants, Post Office Box 1126, Conover, NC 28613.
NCSA CPE SURVEY
1. WHAT TYPE OF CPE DO YOU WANT NCSA TO SPONSOR?
8 hours ___ 12 hours ___ 16 hours ___ None ___
Individual Tax Seminars/Classes
8 hours ___ 12 hours ___ 16 hours ___ None ___
Business Tax Seminars/Classes
8 hours ___ 12 hours ___ 16 hours ___ None ___
Estate Tax Seminars/Classes
8 hours ___ 12 hours ___ 16 hours ___ None ___
Elder Care Seminars/Classes
8 hours ___ 12 hours ___ 16 hours ___ None ___
4 hours ___ 8 hours ___ None ___
Practice Management Seminars/Classes
4 hours ___ 8 hours ___ None ___
6 hours ___ None ___ Other (please specify) ___
November Tax Update
8 hours ___ 16 hours ___ None ___
Other Classes/Seminars (please specify) ___________________________________
4 hours ___ 8 hours ___ 12 hours ___ 16 hours ___
2. WHEN WOULD YOU ATTEND CLASSES? (Check each that applies)
SPRING ___ FALL ___ CONVENTION ___
NOVEMBER TAX UPDATE ___ OTHER (specify) ___________________
3. WHAT DAYS OF THE WEEK DO YOU PREFER? (Check each that applies)
Mon ___ Tue ___ Wed ___ Thur ___ Fri ___ Sat ___ Sun ___
4. WHERE SHOULD CLASSES BE HELD? (Check all that apply)
Western NC (Asheville area) ___
Central NC (Charlotte area) ___ (Greensboro) area ___
Eastern NC (Raleigh area) ___ (Fayetteville area) ___ (Wilmington area) ___
Myrtle Beach SC ___
Other ___ (Please specify) _________________________________________________
5. Comments: ____________________________________________________________________
Thank you for your time in completing this survey.
Please return your survey not later than August 22.
Mail: Bill Fischer, 711 Dandridge Dr, Fayetteville, NC 28303-2000
NCSA EDUCATIONAL INFORMATION NCSA FALL PROFESSIONAL ACCOUNTING SEMINAR
And the National Society of Accountants
District IV Meeting
October 3rd and 4th, 2009
ASHEVILLE RENAISSANCE HOTEL
One Thomas Wolfe Plaza
Asheville, NC 28801
(828) 252-8211 * Fax (828) 254-1374
Rooms must be reserved by September 2, 2009, for $159.00 each night. Please make your
reservations directly with the hotel. Call 1-800-468-3571 for reservations and tell them
you are with the North Carolina Society of Accountants.
The North Carolina Society of Accountants will present its Fall
Professional Accounting Seminar (PAS) and host the National Society of
Accountants District IV Meeting on October 3rd and 4th, 2009 at the
Asheville Renaissance Hotel, One Thomas Wolfe Plaza,
Asheville, NC 28801
Saturday, October, 3, 2009
8:00 am 8 CPE Hours
Tax Basis Compilation and Review Finances
Presented by John Ayers, CPA
John has been a self-employed tax and accounting practitioner since 1977. With
an M.B.A. in Business Administration, he has 31 year of teaching experience.
John is a member of both the AICPA and the NSA.
Sunday, October, 4, 2009
8:00 am NSA District IV Meeting
NCSA EDUCATIONAL INFORMATION Registration includes lunch, and breaks.
Please complete and return this form to the NCSA office:
NCSA, Post Office Box 1126, Conover, NC 28613
Phone: 866-755-6272 Fax: 828-695-2522
Before September 9th After September 9th
Member $139 $159
Non-Member $159 $179
10% discount available for each additional registration from the same firm if registration
is received before September 9th
Cancellation Policy: Each cancellation received by September 9th will be refunded less $50.00 per person. No
refunds after September 9th.
City, State, Zip
Credit Card Number Exp. Date
Billing Address for Card
METHOD OF PAYMENT:
_____Check (Make payable to NCSA)
_____Visa _____MasterCard _____American Express
NCSA, Inc. has entered into an agreement with the Office of Director of Practice, Internal Revenue Service, to
meet requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance re-
cords, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does
not constitute an endorsement by the Director of Practice as to the quality of the program or its contribution to the
professional competence of the enrolled individual.
The North Carolina Society of Accountants, Inc., is registered with the North Carolina State Board of CPA Ex-
aminers as a sponsor of continuing professional education. Complaints or comments regarding registered spon-
sors may be addressed to the North Carolina State Board of CPA Examiners, P. O. Box 12827, Raleigh, NC
Registration Fees Include: Participation in all educational sessions,
2009 Topics Tax Conferences
Serving Tax Professionals for 31 Years.
continental breakfast, early morning coffee, refreshment breaks and
the PTI comprehensive book of handout materials, problems and
• New Tax Law Update ®
PROFESSIONAL TAX INSTITUTES, INC.
• Effective Planning for Changing Tax Laws
forms. We encourage early registration to ensure an adequate supply
of seats and books. We reserve the right to close enrollmore when the • New Tax Credits
facilities are filled. Don’t be left out! (Lunch not included)
• IRA Update, Including NEW ROTH Rules
All registrations should be mailed to Manhattan, Kansas • Distressed & Forced Sales
The fees are:
• Mortgage Interest – Beware of the Traps
• A New Look at Divorce Issues
Dealing With Change:
 Charlotte 10/30 10/30
• Capital Gains & Losses—Effective Tax Planning
 Myrtle Beach 11/2 11/2
• AMT, A Fresh Review
These conferences will be held on:
 Monday and Tuesday, Nov. 16th and 17th at the Clarion Hotel
• Basis, A Comprehensive Review
Greensboro, 415 South Swing Road, Greensboro, NC 27409. Phone • Pension Plan Update
Conover, NC 28613
• Aggressive Pension Planning
Return Service Requested
Room rates: $79 single or double ($89.07 Inclusive) per night.
Room Rate Cut-Off Date: Oct. 31st, 2009. • Multi-Entity Planning & Considerations
P.O. Box 1126
Reference “PTI” when making room reservations.
• Estate Tax Law Changes
 Tuesday and Wednesday, Nov. 17th & 18th at the Holiday Inn
Airport Charlotte, 2707 Little Rock Road, Charlotte, NC 28214. • Gifting Strategies to Minimize Estate Tax
Phone (704) 394-4301.
• IRS Representation Issues/Effective IRS Correspondence
Room rates: $124 single or double ($142.91 Inclusive) per night.
Room Rate Cut-Off Date: Oct. 17th, 2009. • Dealing With High Risk Clients
Reference “PTI” when making room reservations.
• IRS Audit Trends & Considerations
 Thursday and Friday, Nov. 19th & 20th at the Ocean Reef Resort,
Carolina State Bar Board Of Continuing Legal Education for approval of CLE cred-
These Professional Tax Institutes conferences have been submitted to The North
7100 N Ocean Boulevard, Myrtle Beach, SC 29572. • Generational Issues
Once the approved CLE activity number and hours are received, we will post the
its. At the time of publication the official response had not yet been received.
Phone (800) 542-0048.
• Practice Management
Room rates: $49 single, double or efficiency.
Room Rate Cut-Off Date: Oct. 30th, 2009. • Independent Contractor vs. Employee
Reference “PTI” when making room reservations.
activity code for Greensboro, NC and Charlotte, NC on the website.
• Fringe Benefits & the IRS
Holiday Inn Airport Charlotte
Who May Enroll: Enrollment is open to all CFP’s, attorneys, account- • Required Minimum Distributions—Pay Attention!
Clarion Hotel Greensboro
ants, CPA’s, enrolled agents, CLU’s and trust officers, regardless of
• Business & Professional Ethics
years in practice or experience level.
North Carolina Society Of Accountants, Inc.
...and much, much more!
Nov. 19 & 20, 2009
Nov. 17 & 18, 2009
Nov. 16 & 17, 2009
Ocean Reef Resort
Myrtle Beach, SC
Endorsed and Promoted by the
Professional Tax Institute, Inc. is registered with the National Association
of State Boards of Accountancy 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.
Complaints regarding sponsors may be addressed to NASBA, 150 Fourth
Avenue North, Suite 700, Nashville, TN 37219-2417. www.nasba.org
PTI has entered into an agreement with the Office of Director of Practice,
Internal Revenue Service (Sponsor No 82), to meet the requirements of 31
Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of
program outlines, qualifications of instructors and length of class hours. This agreement does not con-
stitute an endorsement by the Director of Practice as to the quality of the program or its contribution
to the professional competence of the enrolled individual.
Professional Tax Institutes, Inc. has also entered into agreements as a CPE sponsor with the
Ways to SAVE with PTI!
Accreditation Council for Accountancy and Taxation, and the International Board of Standards and
Practices for Certified Financial Planners, Inc. PTI is registered as a CPE sponsor with the state boards
1. No increase in our pricing Register today!
of New Jersey, New York, and Texas. With 800 educational minutes over the conference period, the Tax
Institute is recommended for 16 (CPE) credit hours in taxation. Your state board of accountancy has
2. Four or more discount
the final authority on the acceptance of individual courses.
CFP® and Certified Financial Planner® are federally registered service marks of the Certified Financial
3. Online registration discount
Planner Board of Standards, Inc., (Sponsor No 469)
Meet the PTI Team Time Schedule CPE BREAK
31st Annual Conference
MEET THE PTI SPEAKERS Period Time Min. Min.
PTI Conference Registration
PTI Conference speakers present our diverse subject matter in an informative, entertaining manner. If you (Additional discount for ALL online registrations: www.ptitax.com)
are tired of presenters that merely read out of the book, then give us a try. With a combined 125 years of DAY ONE ®
tax practice experience, we truly understand practitioners’ needs when it comes to continuing education. 7:00 8:00 Registration & Coffee
#1 8:00 9:40 Randall R. Carlson 100 Has your mailing address changed in the last year? K Yes K No
9:40 9:50 Break 10
#2 9:50 11:30 David A. Kisha 100
11:30 12:30 Lunch on Own 60 Full Name: ____________________________________________________________________________
#3 12:30 2:10 Randall R. Carlson 100
2:10 2:20 Break 10 Firm Name: ____________________________________________________________________________
RANDALL R. CARLSON DAVID A. KISHA #4 2:20 4:00 David A. Kisha 100
EA, ABA, ATA, ATP, ECS EA Mailing Address: ________________________________________________________________________
4:00 Conclusion - 1st day 400 80
City:__________________________ State/Province: ________ Zip/Postal Code: ______________
7:00 8:00 Registration & Coffee Telephone: ( ) ____________________________ Fax: ( )______________________________
#1 8:00 9:40 Stephen F. Valentine 100
9:40 9:50 Break 10 Email: ________________________________________________________________________________
#2 9:50 11:30 Paul C. Bumgarner 100 ADDITIONAL ATTENDEES: ________________________________________________________________
11:30 12:30 Lunch on Own 60
#3 12:30 2:10 Stephen F. Valentine 100 ______________________________________________________________________________________
STEPHEN F. VALENTINE PAUL BUMGARNER 2:10 2:20 Break 10
EA, ATA, ATP, ECS EA, ABA, ATA, ATP, ECS ______________________________________________________________________________________
#4 2:20 4:00 Paul C. Bumgarner 100
4:00 Conclusion – 2nd day 400 80 Please register me/us for the Conference in:
Total Conference 800 160 Location: ______________________________________________________________________________
COMPLETE BIOGRAPHIES AVAILABLE ON OUR WEBSITE: WWW.PTITAX.COM Note: Smoking, cellular phones and tape recorders are not allowed
Number of registrations: ________ @ Fee of: $ ____________ each = $ ______________________
in the seminar room.
Less Four or More discount: Four or more people attending from any one firm will qualify for a reduction
in registration of $20.00 each.
EA, ABA, ATA, ATP Number of registrations: ____________ @ ($20) = ____________________________
By Phone By Mail GRAND TOTAL = $ __________________________
Call us today at: Mail the completed form to:
1-800-771-1784 Professional Tax Institutes, Inc.
VICTOR D. BARBO or (785) 537-1121 P.O. Box 728
CPA Preferred method of Payment:
Manhattan, KS 66505-0728
Writing Coordinator K Check enclosed to cover the full fee Mail to: Professional Tax Institutes, Inc.
GAIL L. WETTER By FAX Or Via the Internet Make checks payable to: PTI, Inc. PO Box 728
& Editor FAX the completed form to:
Conference Acccess our Website at: Manhattan, KS 66505-0728
Coordinator & 1-785-539-4609
Administration Charge to: K VISA K MASTERCARD Total $ ______________________________
Information for registrants: The content of the 1040 continuing education conferences
Account number Exp.
includes accounting and taxation issues. The conferences are prepared as an update
STEVE RATHBUN for attendees with intermediate to advanced technical skills. The teaching method
CPA Cardholder (print) ________________________________________________________________________
used in the courses is the “lecture & case studies” format. The two day 16 CPE credit
Research hour course is intended to expand knowledge for attendees with a background in the
Coordinator & areas of taxation and accounting. Authorized signature: ____________________________________________________________________
Refund Policy. Fees are refunded (less a $50 service fee per registration) if notification
LINDA CHAMBERLAIN is received at least 7 business days prior to the conference. 50% is refundable there- Serving Tax Professionals for 31 Years.
PowerPoint Development after. If you fail to attend (no show) and do not notify us in advance, the full fee is due.
ATTENTION: For more information regarding administrative policies such as complaints and refunds, please contact our office at 800-771-1784.
Substitutions may be made, if we are notified in advance.
Embassy Suites 1040 in Depth
The award-winning Embassy Suites RDU is
the Triangle’s only all-suite convention ho-
tel. It is set in a serene woods. November 2
7:30 am-8:00 am Registration
Every one of the 273 spacious 2-room suites 8:00 am-4:00 pm Class
includes a bedroom with a king size or two
double beds and a separate living room with November 3 North Carolina Society
a sofabed, armchair, well lit dining/work ta- 8:00 am-4:00 pm Class of
ble. Other amenities include wet bar, refrig-
Prerequisites Accountants, Inc.
erator, microwave, coffeemaker, iron with
board, hair dryer, two telephones with voice- 2-4 years tax preparation experience
mail, high-speed Internet, and two televi- 1040 in Depth
Intermediate Tax Seminar
Mornings start with a complimentary Cary, NC
cooked-to-order breakfast in the lush, open- Description
air atrium. And, when the day is done, the Class starts with a review of the regulatory and
nightly Manager’s Reception has beverages judicial changes for Federal income tax returns
and hors d’oeuvres. during the last year. The instructors will expand
on problem areas with multiple examples and
There is a restaurant and lounge in the hotel. point out the traps involved in the changes.
There is tennis, an activity court with basket- Also provided are planning ideas revolving
ball and volleyball as well as the latest exer- around the changes for the current and future tax
cise equipment in the fitness center. Relax years, as well as practice management concerns. November 2-3, 2009
in the indoor pool accompanied with a whirl- Finally, the instructors will review major 1040
pool and sauna. tax return compliance preparation issues on a
form-by-form basis. Everyone receives a 700+
page reference manual which is hyper-linked to
a tax research library. Embassy Suites RDU
201 Harrison Oaks Blvd.
WHAT TO WEAR Cary, North Carolina 27513
For additional information or questions contact:
...Dress warmly in layers as
Candace Cansler, Executive Director Telephone:
the room may be cool. NC Society of Accountants, Inc. (919)677-1840
P.O. Box 1126, Conover, NC 28613
866-755-6272 or firstname.lastname@example.org
1040 in Depth Tax Seminar The Best 1040 Class
PLEASE PRINT LEGIBLY TO AVOID ERRORS AND DELAYS ON-SITE
Name (To appear on Badge)______________________________________________ Group
Street Address__________________________________________________ Sponsored by the
Address should be the billing address of your credit card, if you decide to pay by credit card. North Carolina Society of Accountants
The classroom facilities at the Embassy Suites are
Phone__________________________Fax____________________________ excellent. Classes begin at 8 each morning and run
until 4 each afternoon.
E-mail_________________________________________________________ The cost for registration is $289 for members and
$339 for non-members before August 31. Lunch and
breaks are included Remember, if you become a
member before June 20, 2009, membership in the
Registration Fees* Early Bird NCSA is free.
# Attending Registration Registration Total
(Prior to August 31st) (after August 31st)
A number of rooms at the hotel have been set aside at
$119 a night for single or double occupancy. Call
Members ________ $289.00 $319.00 ________ the hotel directly for a room reservation.
Non Members ________ $339.00 $369.00 ________
Bob Jennings runs the best classes in the country.
Total Amount being submitted $________
Jennings seminars are exciting and interesting--–no
TOTAL FEES BEING SUBMITTED WITH THIS REGISTRATION FORM one falls asleep at these lively, entertaining, practical
seminars. A hyperlinked manual, written by the top
Amount $________________ experts in the field who actually practice public ac-
counting, are part of the material you get with the
Method of Payment: class.
Check #_______Make Checks payable to NCSA and return with this registration brochure to: Bob Jennings CPA, CFP, and CITP, will teach the
Post Office Box 1126, Conover, NC 28613 first day of the class. He is nationally renowned as
one of the most entertaining and informative speak-
Or for your convenience credit cards are accepted (indicate your preference below) ers in the country. Bob has spoken to over 150,000
professionals in the last 15 years in his humorous,
Visa_________________ MC________________AE_______________ energetic, and down-to-earth style. Bob also is a
very actively practicing CPA in his firm in Indiana.
Credit Card #_______________________________________________________Exp. Date_______________ You get practical insight into practical issues.
_________________________________________________________________________________________ Bill Leonard CPA, CFFA, is licensed in Massachu-
Signature setts, Rhode Island, and Singapore. He employs 16
multi-lingual professionals that focus on meeting the
needs of small businesses, individuals, and fiduciar-
*Cancellation Policy: Registration fees are non-refundable after September 30th. Refunds approved by the NCSA Board prior to ies. He has been in practice since 1981. He is the
September 30th are subject to a $50 service charge. newest member of the Jennings team and has over 20
years of college and seminar teaching experience.