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UK Income Tax Seminar Program
C. Infanger
Department of Agricultural Economics
Project Description
For 43 years the Department of Agricultural Economics has conducted a state-wide professional continuing education program for farmers, attorneys, certified public accountants, tax preparers and related persons. This is the largest and highest profile federal and state income tax education program in Kentucky. In 2007 nearly 1,700 persons attended Beginner, Ethics, and Federal-State tax workshops and were awarded professional continuing education credits (8, 2, or 16 hours, respectively) based on instruction from teaching team including UK farm management specialists, CPAs, Internal Revenue Service agents, and Kentucky Department of Revenue personnel. Particular instruction on the tobacco buyout payments, CRP payments, equipment lease/purchase was the focus of the agricultural tax issues. The workbook for these seminars is a 600+ page book prepared collaboratively by the Land Grant University Tax Education Foundation, which includes 26 universities and for which UK was a founding member.
Impact
The “Beginner Tax Preparation” seminars attracted 68 persons and will be continued into 2008. A new “Ethics Seminar,” designed to meet the needs of Enrolled Agents and other professionals was pilot-tested in 2007 and attracted 113 participants. Participant evaluations from each seminar indicate high satisfaction with the seminars and continuing high-demand confirms the vitality of program.