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How to Not Get Crushed by Income Tax Collection from a Partnership - Centralized Partnership IRS Audit Rules: Biggest Change in History of Partnership Taxation

Total Credits: 3 including 3 Taxes - Technical

Average Rating:
ACPEN Industry Institute |  Tax |  IRS Approved
Mario Flores
Course Levels:
3 Hours
Access for 30 day(s) after program date.

Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


Learn about Centralized Partnership IRS Audit Rules, one of the biggest changes in history of partnership taxation.  Partnerships will be taxed like C Corps if we don’t defend.


**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to


Basic Course Information

Learning Objectives
  • What is an “imputed underpayment” liability of a partnership? 
  • What is a “push out” election and how does a partnership get decimated without it?
  • May a partner do the right thing and “amend out” or “pull in”? 
  • How must partnership/LLC operating, buy-sell, contribution, dissolution and loan agreements be revised to avoid problems?
  • Who is a “partnership representative (PR)”? If we don’t choose one, IRS will for us (not even close to good)

Major Subjects
  • Not to get crushed by IRS collection of income tax from a partnership
  • How the tax preparer can decimate a partnership’s future (or save it)
  • To avoid ugly partnership level income tax at highest rate (and perhaps no basis step up for partners)
  • To protect clients by electing out of new regime - who, how, when and why
  • Congress’ Technical Corrections one month ago greatly expanded CPAR
  • To identify whether S corporations may look better than partnerships now
  • To lead your client to prepare in earnest today   

Course Materials


Mario Flores Related seminars and products: 18

Mario Flores is the founder and President of Top Notch Coaching, LLC, an executive and professional business coaching company specializing in Leadership Coaching for the Financial Executive and Financial Professional. Prior to his retirement, he worked for over 36 years with Verizon/GTE with over 18 years at the Executive Leadership Level in Finance and Operations.  Mario has excellent business acumen developed through a career that systematically evolved from professional discipline to business leader.  His professional evolution is rooted in strong financial fundamentals in Accounting, Regulatory, Financial Planning as well as business fundamentals in Business Analysis, Supply Chain Management, Retail Markets and Operations.  He has served in major, nationwide executive leadership roles and has acquired a broad range of financial and nonfinancial experiences over this four-decade period in the dynamic telecommunications industry.

As a Professional Certified Coach (PCC) from the International Coach Federation (ICF), he is an experienced Executive and Professional coach in both “for-profit” and “non-profit” environments.  Mario’s core competencies include coaching, leadership, behavioral self-awareness,  business acumen, strategic thinking for results-driven execution, accountability models, multi-functional and end-to-end process viewpoints, and an understanding of the development of the “Professional to Business Partner to Business Leader” evolution.

Mario has a BBA in Accounting and an MBA in Management from Angelo State University, is a licensed CPA in the State of Texas, a Certified Winslow Research Institute Coach and a Certified Conflict Dynamics Profile Consultant.

Mario also serves on the faculty as an executive coach in the University of Texas at Dallas (UTD) Executive MBA Program and Global Leadership Executive MBA Program and as an external executive coach in the UTD Masters in Management and Administrative Sciences/UT Southwestern/THR/Parkland Healthcare Organization Leadership Program.  Mario is a member of the Faculty and Moderator for the national broadcasting Business Professionals’ Network, Inc. /Accounting CPE Network (ACPEN).  He has been published in the April 2012 issue of Financial Executive Magazine, a publication of the Financial Executives International (FEI) organization.

Mario is committed to giving back to the community. He has served on various boards including the Corporate Advisory Board for the National Society of Hispanic MBAs, the Christian Community Action (CCA) Board of Directors and Parenting Alone.  He has engaged in public speaking in various forums including Angelo State University, University of North Texas, University of Texas at Dallas, Nanjing University in China, The United Nations, The Financial Executives International Dallas Chapter and other not for profit organizations. 


Mon, Mar 02, 2020 - 10:00a to 01:00p CST
Thu, Mar 12, 2020 - 02:00p to 05:00p CDT
Sat, Apr 11, 2020 - 10:00a to 01:00p CDT
Thu, Apr 23, 2020 - 02:00p to 05:00p CDT
Mon, May 04, 2020 - 10:00a to 01:00p CDT
Tue, May 12, 2020 - 02:00p to 05:00p CDT
Tue, Jun 02, 2020 - 10:00a to 01:00p CDT
Sat, Jun 20, 2020 - 02:00p to 05:00p CDT
Fri, Jul 03, 2020 - 10:00a to 01:00p CDT
Thu, Jul 23, 2020 - 02:00p to 05:00p CDT
Thu, Aug 06, 2020 - 10:00a to 01:00p CDT
Thu, Aug 13, 2020 - 02:00p to 05:00p CDT
Fri, Sep 04, 2020 - 10:00a to 01:00p CDT
Thu, Sep 17, 2020 - 02:00p to 05:00p CDT
Wed, Oct 14, 2020 - 10:00a to 01:00p CDT
Thu, Oct 22, 2020 - 02:00p to 05:00p CDT
Thu, Nov 05, 2020 - 10:00a to 01:00p CST
Tue, Nov 17, 2020 - 02:00p to 05:00p CST
Mon, Dec 07, 2020 - 10:00a to 01:00p CST
Tue, Dec 22, 2020 - 02:00p to 05:00p CST

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For All CPAs
Original Recording Date 07/19/2018
Yellow Book No
Course Developer Bradley Burnett Tax Seminars, Ltd.
Date Added to Catalog 07/18/2018

Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints., (972-377-8199).
Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) 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 for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

Instructional Delivery Method Group Internet Based
Course Registration Requirements

Online Registration

Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 

Promo Video



Overall:      4.5

Total Reviews: 19

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