Howard, LLP

Howard Senior Manager Presented at 60th Annual Texas CPA Tax Institute

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Dallas, Texas, December 2013 – Duncan Campbell, a senior tax manager with leading CPA firm Howard, LLP, gave a presentation entitled, “Understanding Passive Activities” to more than 300 CPAs in both San Antonio and Dallas as part of the Texas Society of CPA’s  annual “Texas CPA Tax Institute” conference held during November 21-22, 2013.

With proven expertise in the passive activities rule, and experience in representing clients before the IRS in defense of their passive vs. non-passive status, Duncan presented from a couple different perspectives – what are the challenges CPAs have faced in the past regarding IRS challenges of clients passive activities, considerations CPAs now have to be cognizant of as the new 3.8% Medicare Surtax will be factored on a client’s passive income, as well a refresher for the attending CPAs on the rules.

“In the past, taxpayers have had challenges from the IRS regarding losses related to their activities, but now with the new Medicare Surtax, taxpayers will also have to deal with challenges from the IRS on their non-passive income,” he said.  “Now, more than ever CPAs will have to keep up to date on the rules as the IRS will be looking on both sides of the coin, where in the past they were most concerned about deductibility of the losses.”