Qualified Business Income sessions highlight 2019 Nationwide Tax Forum; 199A popular topic for tax pros attending

IR-2019-130, July 22, 2019

WASHINGTON – The Internal Revenue Service reminded tax professionals that this year’s Nationwide Tax Forums offer several different sessions focusing on the new tax law’s provisions involving Qualified Business Income.

The upcoming Tax Forums in Chicago, New Orleans, Orlando and San Diego will feature five different sessions looking at different aspects of the major new provision, part of the Tax Cuts and Jobs Act. Qualified Business Income, commonly referred to as QBI or its Internal Revenue Code Section number of 199A, impacts many different businesses and self-employed.

During the first of this year’s Tax Forums, held earlier this month at National Harbor outside Washington, D.C., the QBI sessions were among the most popular among tax professionals, with many of the sessions filled to capacity with hundreds of attendees gathering to hear experts from inside and outside government.

These sessions will occur in all four upcoming Tax Forum cities and include expert speakers from the IRS and national tax associations. The sessions include:

  • Properly Substantiating the Section 199A Qualified Business Income -- with speakers from the National Society of Tax Professionals (NSTP).
  • Tax Cuts and Jobs Act Update: QBI Deduction and Opportunity Zones -- with speakers from IRS’ Small Business and Self-Employed division.
  • 199A Qualified Business Income: Review and Planning to Maximize the Benefits of QBI on the Form 1040 -- with speakers from the National Association of Tax Professionals (NATP).
  • When Does a Rental Generate Qualified Business Income 00 with speakers from the National Association of Enrolled Agents (NAEA).

The 2019 Nationwide Tax Forums continue around the country. Other remaining events are:

  • Chicago, July 23-25;
  • New Orleans, Aug. 6-8;
  • Orlando, Aug. 13-15; and
  • San Diego, Sept. 17-19 (sold out).

Visit the IRS Nationwide Tax Forum website to register.