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Course Details - Go to Course Contents

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Title :

Housing & Economic Recovery Act of 2008 (HR 3221) and Emergency Economic Stabilization Act Of 2008 (HR 1424)

Author :

Danny C Santucci, JD

Status :

Production

CPE Credits :

0.0

CPE Subject-Field Of Study :

Taxes - Taxation

CFP Credits :

0

CFP Topic :

Income Tax Planning

Price :

$0.00

Passing Score :

Description :

Danny C. Santucci has put together an update to his 2008 Federal Income Tax course that looks into each of the changes these 2 Acts bring to our federal tax code.

Mr. Santucci and Cpethink.com are pleased to offer this update to any registered user on our site at no charge. This includes all past and future users with our complements. Unfortunately this course does not have review or final exam questions at this time and we are therefore unable to offer CPE credit for this course, we hope to have CPE credits for this course soon. This course is available online and downloadable as a PDF.

Usage Rank :

0

Release :

2008

Version :

1.0

Prerequisites :

None

Experience Level :

Overview

Additional Contents :

Complete, no additional material needed.

Advance Preperation :

None

Delivery Method :

Self-Study

Intended Participants :

Information Only.

Publication Date :

11/26/2008

Revision Date :

11/26/2008

NASBA Course Declaration :

Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.

Comments :

Housing Economic Recovery, Emergency Economic Stabilization, HR 1424, HR 3221, HR1424, HR3221, CPE, online, self-study, self study, CPA, CPAs, continuing professional education, continuing education, accounting, accountants, business, commerce, Federal ta

Learning Objectives :

To review the changes to the US Federal Income Tax code caused by the Housing & Economic Recovery Act of 2008 (HR 3221) and the Emergency Economic Stabilization Act Of 2008 (HR 1424)

   

Course Contents - Go to Details

Housing & Economic Recovery Act Of 2008 (HR 3221)

Non-Itemizer Real Estate Tax Deduction - §164

Low-Income Housing Credit - §42

AMT Impact

Rehabilitation Tax Credit - §47

First-Time Homebuyer Credit - §36

Reduced Home Sale Exclusion - §121

Mortgage Revenue Bonds - §146

Tax-Exempt Housing Bonds

REITs

FIRPTA Compliance

Credit Card Information Reporting

Delayed Interest Allocation

Large-Corporation Estimated Tax

AMT & Research and Development Credits

Emergency Economic Stabilization Act Of 2008 (HR 1424)

Individual Provisions

Refundable Child Credit - §24(a) & (d)

Residential Energy Efficient Property

Energy Efficient Improvements to Personal Residence - §25C

Residential Energy Efficient Property - §25D

New Plug-In Electric Drive Vehicle Credit §30D

Alternative Minimum Tax - §55

The Minimum Tax Credit

Refundable Minimum Tax Credit - §53

Allowance of Long Term Unused Credit - §53

Tax Abatement & Refund of Penalties and Interest Paid

Miscellaneous

$250 “Above the Line” Deduction For Classroom Materials - §62

Standard Deduction for State and Local Real Property Taxes §63

Income Exclusion for Discharges of Acquisition Indebtedness - §108

Uniform Definition of “Qualifying Child” Modified - §151

Deduction of State & Local Sales Taxes - §164

Casualty Losses in Federally Declared Disasters - §165

Tuition Deduction - §222

Charitable Distributions from IRAs Extended - §408

Business Provisions

Refueling Property Credit  - §30C

Research Tax Credit Extended - §41

Renewable Energy Production Tax Credit - §45

Indian Employment Tax Credit - §45A

New Markets Tax Credit Extended - §45D

Modification of Energy Investment Credit - §48

Credits for Biodiesel & Renewable Diesel - §40A, §6426; §6427

Credit for Energy New Efficient Home Extended- §45L(g)

Hurricane Katrina Work Opportunity Tax Credit - §51

Bicycle Commuters Fringe Benefit - §132(f)

$500K Compensation Limit Under Relief Act - §162(m) & §280G

5-Year MACRS for Farm Equipment in 2009 - §168

15-Year Restaurant Improvements - §168

15-Year Leasehold Improvements - §168

Cellulosic Biofuel & Bonus Depreciation for Biomass - §168(i)

Depreciation for Indian Reservation Property - §168(j)

Special Depreciation for Disaster Assistance Property - §168(n)

Enhanced Charitable Deduction for Food - §170

Enhanced Charitable Deduction for Books - §170

Corporate Donation of Scientific & Computer Equipment - §170

5-Year NOL Carryback for Federally Declared Disasters - §172

Increased Expensing for Disaster Assistance Property  - §179

Energy-efficient Commercial Property Expenditures - §179D

“Brownfield” Environmental Remediation Expensing - §198

Qualified Disaster Expensing - §198A

Deduction Limitation for Oil & Gas Income - §199

Modification of Deduction for Film Production - §199

Nonqualified Deferred Compensation - §457A

Bank’s Fannie Mae & Freddie Mac Stock - §582(c)(1)

S Corp. Stock Basis Adjustment on Contribution - §1367

IRS Practice & Procedure Provisions

Broker Reporting of Securities Basis - §6045, §6045A, §6045B

“More Likely Than Not” Standard Repealed - §6694

 

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