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Virginia Cooperative Extension -
 Knowledge for the CommonWealth

1999 Income Tax Conference - Ten Virginia Locations

Farm Business Management Update, August 1999

By L. Leon Geyer of the Department of Agricultural and Applied Economics, Virginia Tech

The Virginia Tech Income Tax Conferences (formerly known as the Farm and Small Business Income Tax Conference) are scheduled at ten Virginia locations this year. The conferences will occur in November and December 1999. They feature an intensive study of tax law and regulations governing individual, farm, and small business taxes. They are designed for persons with income tax experience who assist taxpayers in preparing and filing income tax returns. Preparation of both federal and state taxes will be covered. The table that follows gives the schedule for general sessions and special sessions on farm taxation.

This year is the thirty-ninth year that Virginia Cooperative Extension, Virginia Tech's Department of Agricultural and Applied Economics, the Virginia Department of Taxation, and the US Internal Revenue Service (IRS) have cooperated in bringing this program to the people who assist taxpayers in preparing and filing federal and state income tax returns. This conference is Virginia's largest workshop for tax practitioners.

Faculty from Virginia Tech, staff from the IRS, private tax practitioners, and the Virginia Department of Taxation will examine new tax laws and their implications and will examine case studies to interpret new regulations. Topics for the major program will include Troublesome Areas of Recent Legislation; Individual and Small Business Problems; What's New: Rulings and Cases; Schedule C; C Corporations; S Corporations; LLCs and Partnerships; Trusts and Estates; Form 1040 Reporting from Schedules K-1; Tax Elections; Alternative Minimum Tax; Education Provisions; Form 990; Retirement; Form 4797; 1999 Tax Legislation; and much more.

Brochures for the conferences have been mailed to tax practitioners, CPAs, lawyers, Commissioners of the Revenue, and other past attendees. Brochures are also available in Extension Unit and District Offices. Registration forms can be duplicated, or you may contact Brenda Chandler by phone: (540) 231-7936, fax: (540) 231-7417, or email: bnchan@vt.edu for further information. Our web site (http://www.aaec.vt.edu/tax/index.html) includes a complete brochure, an online registration form that can also be printed to mail or fax, as well as additional information about the conferences.

Special farm tax workshops are available to registered participants. Farm sessions take place from 5:00 7:00 p.m. at selected locations (see schedule). Virginia Tech agricultural lawyer, Leon Geyer, teaches the farm tax workshops. He will address: Income Averaging; Farm NOLs; Earned Income Tax Credit; Getting Out of a Farm Business; Ledger Contracts for Hog Producers; Tax Basis for Timber Sales; Payments for Easements and Damage to Crops; Sale of Development Rights; CCC Loans; Contract Farming; and more.

The tax conference general sessions will run each day from 8:30 a.m. until 4:45 p.m. Pre-registration and pre-payment are required. The registration fee includes a text, reference material, refreshment breaks, two luncheons, and the farm workshops and the What's New tax update that is mailed in January. Lodging is not included.

The 600+ page Income Tax textbook is a comprehensive study manual used in more than 45 states. It is written and reviewed by CPAs, tax attorneys, IRS agents, and tax practitioners.

Please contact the Income Tax Conference Registrar, at the Continuing Education Center, phone (540) 231-2008 or fax (540) 231-3306 for registration information.

1999 Virginia Tech Income Tax Conference Dates and Locations

1999 Virginia
November 8-9 Richmond I
November 10-11 Harrisonburg
November 15-16 Lynchburg
November 17-18 Roanoke
November 22-23 Bristol
November 29-30 Dulles
December 1-2 Fredericksburg
December 7-8 Williamsburg
December 8-9 Virginia Beach
December 13-14 Richmond II
1999 Farm Dates and Locations
November 8 Richmond I
November 10 Harrisonburg
November 15 Lynchburg
November 17 Roanoke
November 22 Bristol
November 29 Dulles
December 1 Fredericksburg
December 7 Williamsburg
December 8 Virginia Beach

Contact the author at geyer@vt.edu .

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