Schedule M-1/M-3 and Schedule UTP Reporting and Companies Requirements: 2-day In-person Seminar

By: Cherie J. Hennig, Ph.D, CPA
Coming soon.. Please contact customer care for new schedule

We need the below information to serve you better

Course Description:

Did you know?

  • There are more than 150,000 partnerships required to file the Schedule M-3?
  • That corporate partners report more partnership income than individual partners?
  • Those partnerships with one or more corporate partners who are M-3 filers must also file the Schedule M-3 even though the partnership has less than $10,000,000 in assets?
  • There are more than 45,000 S corporations required to file the Schedule M-3?

If you were not aware of any of these facts, then attending this seminar would definitely be beneficial for you.

This highly interactive two day seminar will explain reporting and compliance issues for non-public Schedule M-3 filers for the 2014 filing season. Attendees will gain understanding of Schedule M-3 and the impact that recent changes will have on tax compliance. Time will be provided during the seminar for participants to ask your Schedule M-3 and Schedule UTP questions and to work on realistic, comprehensive examples that will guide them through the compliance maze for Schedule M-3 and Schedule UTP filers. Learn more about the Schedule M-3 reporting and filing requirements for pass-through entities.

This course on Schedule M-3 filling requirements will cover following topics:

  • Which entities are required to complete the Schedule M-3 for 2014?
  • Tips for accurately completing the Schedule M-3, Part I.
  • Tips for accurately completing the Schedule M-3, Part II, including form 8916A.
  • Tips for accurately completing the Schedule M-3, Part III, including form 8916A.
  • Issues unique to S corporations filing consolidated returns required to file Schedule M-3.
  • Issues unique to partnerships and S corporations required to file Schedule M-3.
  • Issues relating to Schedule UTP compliance for S corporations.
  • How to avoid taxpayer and tax preparer penalties by satisfying disclosure requirements.

Learning Objectives:

  • Gain a practical understanding of the Schedule M-3 reporting and disclosure requirements.
  • Learn about changes to Schedule M-3 reporting requirements for 2014 tax year.
  • Learn about how to complete Schedule M-3 for a parent-subsidiary consolidated group.
  • Understand how to identify and substantiate uncertain tax positions on the Schedule UTP.
  • Learn why it is important to “get the numbers right” when completing Schedules M-3 and UTP.

Who Will Benefit:

  • Corporate Tax Directors
  • Managers and Staff Responsible for Tax Compliance
  • CFOs
  • Controllers
  • CPAs
  • Tax Attorneys
  • Other Business and Financial Professionals Advising Clients on Tax Compliance.

Course Outline

Day One (8:30 AM – 4:30 PM)
Registration Process: 8:30 AM – 9:00 AM
Session Start Time: 9:00 AM

  • Which entities are required to complete the Schedule M-3 for 2014
  • Tips for accurately completing the Schedule M-3, Part I
    • Clarification of financial statement hierarchy, including when tax-basis Financial Statements can be used for Part I reporting of financial information limits on use of tax-basis reporting
    • Conforming Schedule L to required reporting method
    • Part I Line 12 disclosure of total assets/liabilities of includible/excludible entities
  • Tips for accurately completing the Schedule M-3, Parts II and III, overview
    • Report in Parts II and III any item listed in Schedule M-3 that is included in the financial statements or books and records.
    • Must report even if no book-tax difference
    • Mapping and classification issues
    • Meeting the “separately stated” and “adequately disclosed” requirements
    • How to report “temporary” differences in Parts II and III, Column (b)
    • How to report “permanent” differences in Parts II and III, Column (c)
    • Required disclosures for interest income/expense on the expanded Form 8916-A for:
      • Hybrid securities
      • Sale/lease transactions
      • Intercompany interest from outside/inside affiliated group
  • Tips for accurately completing the Schedule M-3, Part II
    • Income from a subsidiary, equity method vs. dividend method
    • Income from a partnership
    • Interest income (Form 8916-A)
    • Cost of goods sold (Form 8916-A)
    • Gain/loss on dispositions of assets
    • Other income (loss) items with differences
  • Tips for accurately completing the Schedule M-3, Part III
    • Meal and entertainment expenses
    • Fines and penalties
    • Charitable contribution deduction
    • Depreciation deduction
    • Bad debt expense
    • Other expense (deduction) items with differences
  • Case Study, completing Schedule M-3, Parts II and III
Day Two (8:30 AM – 4:30 PM)
  • Issues unique to S corporations filing consolidated returns required to file Schedule M-3
    • Identifying includable/excludable domestic entities
    • Identifying includable/excludable foreign entities
    • How are disregarded entities reported on Schedule M-3
      • Case Study, Completing Schedule M-3, Part I
      • Issues unique to partnerships and S corporations required to file Schedule M-3
    • Disclosure requirements for Partnerships and S corporations
    • How to determine who is a Reportable Entity Partner (REP) and what the reporting requirements are for a REP
    • Schedule C reporting requirements for partnerships required to file Schedule M-3
    • Capital accounts reporting and reconciliation
    • Schedule M-3 disclosure requirements unique to partnerships
      • How to report guaranteed payments
    • Schedule M-3 disclosure requirements unique to S corporations
      • How to report built-in gains tax
  • Issues relating to Schedule UTP compliance for S corporations
    • Identifying common UTP positions requiring disclosure
    • Understanding which uncertain tax positions must be included on Schedule UTP
    • Understanding what information describing the UTP must be disclosed on Schedule UTP
  • Case Study, Completing Schedule UTP, Parts I and III
  • How to avoid taxpayer and tax preparer penalties by satisfying disclosure requirements
    • Distinguishing substantial authority from a position that meets the More-likely-than-not test.
    • Using Schedule M-3 to meet disclosure requirements
    • Other required disclosures

Meet Your Instructor

Cherie_Hennig_90_112
Cherie Hennig
Ph.D, CPA

Cherie Hennig, Ph.D., is the co-author of the treatise, Practical Guide to Schedule M-3 Compliance, 2nd edition, published by CCH. She has published numerous articles on Schedule M-3 and Schedule UTP compliance which have appeared in The Tax Advisor, Tax Notes , Taxes—The Tax Magazine, the Journal of Taxation, and NATP TaxPro Journal.

Dr. Hennig began her career as an IRS Revenue Agent in Denver, CO. She received her BS, MBA, and Ph.D. degrees in accounting from the University of Colorado. She has taught undergraduate and graduate tax courses at the University of North Carolina, Wilmington, Florida International University, Colorado State University, the University of South Florida, and Virginia Tech. She has published articles in leading tax journals and has written and taught numerous continuing professional education courses. She is a co-author of Contemporary Tax Practice: Research, Planning and Strategy, 3rd edition, published by CCH, a Wolters Kluwer business. She received the American Taxation Association, Outstanding Service Award and has served on the Tax Executive Committee of the AICPA and on the Editorial Board of the ATA Journal of Legal Tax Research.

Register Online

Register Online

$0
Get the Invitation
Pre-Register yourself and get the official Invite when venue and dates are announced for this seminar.
Call here to register +1-1-888-771-6965 or email at editor@grcseminars.com

Group Registrations

Send Your Team for Maximum Benefit Get your team up to speed!

Significant tuition discounts are available for teams of two or more from the same company. You must register at the same time and provide a single payment to take advantage of the discount.

  • 2 Attendees
  • 3 to 6 Attendees
  • 7 to 10 Attendees
  • 10+ Attendees
  • -
  • -
  • -
  • -
  • Get 10% off
  • Get 20% off
  • Get 25% off
  • Get 30% off
Call Toll Free +1-1-888-771-6965 if you have any queries.

Register by Wire Transfer

If you wish to pay by wire transfer: Please call us at
Toll Free +1-1-888-771-6965


Download Registration Form

Yes, I want to attend "Schedule M-3 Reporting Requirements for Non-Public Companies for 2014 Filing Season:2-day In-person Seminar"
Click here to Download Registration Form
If you are paying by check:
Checks should be payable to MetricStream Inc. (our parent company). and mailed to:
2600 E. Bayshore Road
Palo Alto, CA 94303
USA

Terms & Conditions to register for the Seminar/Conference/Event

Your Registration for the seminar is subject to following terms and conditions. If you need any clarification before registering for this seminar please call us @ +1-888-771-6965 or email us @ editor@grcseminars.com

Payment:

Payment is required before 2 days of the date of the conference. We accept American Express, Visa and MasterCard. Make checks payable to MetricStream Inc. ( our parent company)

Cancellations and Substitutions:

Written cancellations through fax or email (from the person who has registered for this conference) received at least 10 calendar days prior to the start date of the event will receive a refund — less a $200 administration fee. No cancellations will be accepted — nor refunds issued — within 10 calendar days from the start date of the event.

On request by email or fax (before the seminar) a credit for the amount paid minus administration fees ($200) will be transferred to any future GRC Seminars event and a credit note will be issued.

Substitutions may be made at any time. No-shows will be charged the full amount.

We discourage onsite registrations, however if you wish to register onsite payment to happen through credit card immediately or check to be submitted onsite. Conference material will be given on the spot if it is available after distributing to other attendees. In case it is not available we will send the material after the conference is over.

In the event GRC Seminars cancels the seminar, GRC Seminars is not responsible for any airfare, hotel, other costs or losses incurred by registrants. Some topics and speakers may be subject to change without notice.

Attendance confirmation and Documents to carry to the seminar venue:

After we receive the payment from the registered attendee an electronic event pass will be sent to the email address associated with the registrant before 5 working days from the seminar date. Please bring the pass to the venue of the event.

Conference photograph / video:

By registering and attending GRC Seminars conference you agree to have your photographs or videos taken at the conference venue and you do not have any objections to use these photos and videos by GRC Seminars for marketing, archiving or any other conference related activities. You agree to release GRC Seminars for any kind of claims arising out of copyright or privacy violations.

Media Partners

If you wish to partner with us for this event please contact us: partner@grcseminars.com or call us: +1-888-771-6965.
Media Partner Benefits
  • Logo and company data on the event website.
  • Logo on the conference material distributed during the conference.
  • Media Partner’s brochure distributed along with conference material.
  • Logo on all the mailings before and after the event.
  • 10% discount to media partner's subscribers.
Media Partner to do
  • Banner (min 728x90 or 468x60) on the Media Partner website.
  • Insertion of the event in the event calendar, both printed and/or online.
  • Announcement article of the conference on the Magazine and/or Website.
  • Dedicated email blast to all subscribers of Media Partner.
  • Article on the Magazine and/or Website after the conference.

Sponsors

If you wish to sponsor this event please contact Ben Hobbs: benhobbs@grcseminars.com or call us: (650) 620-2941

Local Attractions:

Statue of Liberty
A short boat trip brings you from Manhattan to the Statue of Liberty, a gift from France for the centennial of America's Independence which now symbolizes the USA and New York in particular.

Brooklyn Bridge
The Brooklyn Bridge, built between 1869 and 1883, connects Brooklyn with Manhattan. The bridge is one of the most magnificent landmarks in all of New York City.

Bryant Park
Bryant Park is a small but pleasant park located next to the NY Public Library and surrounded by interesting architecture such as the historic Bryant Park Hotel and the modern Bank of America Building.


Central Park
Central Park was the first large city park in the United States. The design by Olmsted and Vaux has been copied all over the world. Originally situated in a sparsely populated area, the park is now surrounded by highrises.

Coney Island
Coney Island is a seaside resort in Brooklyn famous for its historic Ferris Wheel and roller coaster, the Cyclone. Long past its heyday, it is still a popular tourist attraction.