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Course Details

2019 Annual Federal Tax Refresher (IRS AFTR) (Course Id 1384)

EA / Return Preparer
Author : Paul Winn, CLU, ChFC
Status : Production
CPE Credits : 6.0
IRS Credits : 6
Price : $53.95
Passing Score : 70%
Course Type: Text - Technical - IRS Enrolled Agents - Registered Tax Return Preparers
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 1384

Description :

Each year, various limits affecting income tax return preparation and tax planning may be affected by inflation-related changes. In addition, the Tax Cuts and Jobs Act of 2017 significantly affects taxpayers’ income tax liability. This IRS tax prep course will examine many of those changes.

The 2019 Annual Federal Tax Refresher course is designed to meet the requirements of the IRS Annual Filing Season program. This IRS tax prep course discusses new tax law and recent updates for the upcoming filing season, provides a general tax review, and examines important rules governing tax return preparer ethics, practices and procedures.

The term "domain" is used in place of the more common "chapter" to more closely follow the language of the IRS Annual Federal Tax Refresher course outline. 

Usage Rank : 0
Release : 2019
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 03-Jun-2018
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.
Approved Audience :

Text - Technical - IRS Enrolled Agents - Registered Tax Return Preparers - 1384

Keywords : Taxes, 2019, Annual, Federal, Tax, Refresher, IRS-AFTR, cpe, cpa, online course
Learning Objectives :

2019 Annual Federal Tax Refresher Course Learning Objectives

Upon completion of this course, a tax return preparer should be able to:
  • Identify the principal individual income tax changes brought about by the Tax Cuts and Jobs Act of 2017;
  • Apply the inflation-adjusted and other limits to the proper preparation of taxpayers’ income tax returns;
  • Calculate nonexempt taxpayers’ tax penalty under the Affordable Care Act for failure to maintain healthcare coverage;
  • Recognize the federal income tax filing statuses and the criteria for their use;
  • Identify the types of income that must be recognized;
  • Apply the tax rules to the various credits and adjustments to income that are available to taxpayers;
  • Recognize the penalties that may be imposed on a preparer for failing to meet ethical and practice standards in preparing tax returns; and
  • Identify the duties and restrictions imposed on tax preparers under Circular 230.

Domain 1
Provisions of Tax Cuts and Jobs Act

When you have completed the domain 1 text addressing the principal individual provisions of the Tax Cuts and Jobs Act, you should be able to:
  • Recognize the Act’s effect on the individual income and capital gains tax rates, standard deductions, filing requirements and exemptions resulting from passage of the Tax Cuts and Jobs Act;
  • Describe the Act’s impact on the tax treatment of alimony, taxpayer moving expenses and Roth recharacterization rules;
  • List the changes with respect to Schedule C provisions;
  • Identify the changes affecting the itemized deductions on Schedule A;
  • Understand the provisions of the enhanced child tax credit;
  • Describe the Kiddie Tax modifications, the changes to the AMT and the §529 plan changes;
  • Recognize the factors considered in the pass-through deduction for a qualified trade or business and the changes affecting ABLE accounts;
  • List the changes affecting the discharge of student loan indebtedness and net operating losses;
  • Describe the Act’s effect on the ACA’s requirement to maintain health coverage and its changes to employee fringe benefits; and
  • Identify the principal changes to the rules governing real property depreciation.

Domain 2
General Income Tax Review

When you have completed the domain 2 text, you should be able to:
  • Recognize the tax limits subject to annual inflation adjustments;
  • Identify those items included in a taxpayer’s taxable earnings;
  • Determine the tax treatment of foreign accounts and trusts;
  • Recognize the items included in self-employment income and expenses;
  • Distinguish between a hobby and a business for tax purposes;
  • Calculate the tax deduction for business use of a home;
  • Identify the recordkeeping requirements to substantiate Schedule C entries;
  • Understand the tax treatment of retirement income;
  • List the factors considered in determining the tax treatment of capital gains and losses;
  • Recognize the eligibility requirements for various tax credits;
  • Describe the rules governing a taxpayer’s tax withholding and estimated tax payments;
  • Recognize the options available to a taxpayer for paying any tax due or receiving a tax refund; and
  • Identify the due dates of income tax returns.

Domain 3
Practices, Procedures & Professional Responsibility

When you have completed the domain 3 text, you should be able to:
  • Identify the red flags indicating possible tax-related identity theft and suggested assistance to its victims;
  • Understand the laws and regulations requiring privacy and security of taxpayer data and the best practices tax preparers may implement to help assure it;
  • Describe the purpose of individual taxpayer identification numbers, their effect on tax credits and how to renew them;
  • Recognize the penalties applicable to a tax return preparer under Title 26;
  • Identify the due diligence requirements imposed on tax return preparers with respect to claiming head of household filing status, EITC, CTC and AOTC;
  • Understand the e-file requirements; and
  • Recognize the Annual Filing Season Program requirements.
Course Contents :

To view Table of Contents, please Click here.

CPE Taxes Course: https://www.cpethink.com/tax-cpa-courses
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