Author : | Danny C Santucci, JD |
Course Length : | Pages: 42 ||| Review Questions: 25 ||| Final Exam Questions: 25 |
CPE Credits : | 5.0 |
IRS Credits : | 5 |
Price : | $44.95 |
Passing Score : | 70% |
Course Type: | NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents |
Primary Subject-Field Of Study: | Taxes - Taxes for Course Id 267 |
Description : | This tax CPE course focuses on key tax provisions enacted under the $800 billion American Recovery and Reinvestment Act of 2009 by analyzing tax issues affecting individuals and businesses contained in this first installment of President Obama’s massive economic and recovery agenda. Individual provisions included a new "making work pay” tax credit, an AMT patch, a sales tax deduction, tax credits for education and first-time homebuyers and enhanced tax benefits for energy efficient improvements to homes. Business provisions included the treatment of such issues as extended bonus depreciation, a limited five-year net operating loss carryback period, small business expensing and capital gains, estimated tax payments, and COBRA coverage. In addition, the course discusses new energy incentives and changes made to former energy regulations. |
Usage Rank : | 0 |
Release : | 2016 |
Version : | 1.0 |
Prerequisites : | General understanding of federal income taxation. |
Experience Level : | Overview |
Additional Contents : | Complete, no additional material needed. |
Additional Links : |
American Recovery and Reinvestment Act of 2009 HIPAA com
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Advance Preparation : | None. |
Delivery Method : | QAS Self Study |
Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
Revision Date : | 30-May-2021 |
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 : | NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents - 267 |
Keywords : | Taxes, American, Recovery, Reinvestment, Act, 2009, Mini, Course, cpe, cpa, online course |
Learning Objectives : |
As a result of studying the assigned materials, you should be able to meet the objectives listed below. ASSIGNMENTAt the start of the materials, participants should identify the following topics for study:
* “American Opportunity” Education Tax Credit * Modified Homebuyer Credit * AMT Patch for Individuals * Extension of Bonus Depreciation * Extension of Enhanced Small Business Expensing * 5-Year Carryback of Net Operating Losses * Delayed Recognition of Certain Cancellation of Debt Income * Tax Credits for Energy-Efficient Improvements to Existing Homes * Advanced Energy Investment Credit After reading the materials, participants will able to:
b. Citing Act modifications to the 2008 Stabilization Act child tax credit provisions, the Hope credit (renamed the American Opportunity tax credit), tuition saving accounts, the homebuyer tax credit and the low-income housing tax credit; and c. Determining how to account for and compute 2009 unemployment compensation taxation, allowable qualified motor vehicle deductions, and 2009 individual AMT exemption amounts.
b. Recognizing extended §179 expensing, revised net operating loss provisions; estimated tax payments for small businesses, category additions to the work opportunity credit, and employer-provided transit and vanpool benefits under the Act; c. Determining the impact of Congress's legislative response to Notice 2008-83, the new cancellation of indebtedness income election, the §1202 small business stock percentage exclusion, the reduced holding period for §1374 assets and the new markets tax credit; and d. Recognizing the new COBRA requirements, delayed implementation 3% government contractor withholding and the expanded definition of industrial development bonds.
b. Determining when an investment tax credit can be taken in lieu of the production tax credit; and c. Locating the differences between prior law and the Act's expanded program for clean renewable energy bonds and qualified energy conservation bonds. |
Course Contents : | Chapter 1 - American Recovery & Reinvestment Act of 2009 American Recovery & Reinvestment Act of 2009 Individual Provisions “Making Work Pay” Tax Credit – New §36A Economic Recovery Payments – Act §2201 Increase in Earned Income Tax Credit - §32 Increase Eligibility for the Refundable Portion of Child Credit - §24 “American Opportunity” Education Tax Credit - §25A Computer Technology & Equipment as Education Expense - §529 Modified Homebuyer Credit - §36 Temporary Suspension of Taxation of Unemployment Benefits - §85 Sales Tax Deduction for Qualified Vehicles - §63 & §164 AMT Patch for Individuals - §26 & §56 Election to Substitute Grants for Credit Allocations - §42 Business Provisions Extension of Bonus Depreciation - §168(k) Extension of Enhanced Small Business Expensing - §179 5-Year Carryback of Net Operating Losses - §172 Estimated Tax Payments - §6654 Modification of Work Opportunity Tax Credit - §51 Transportation Fringe Benefit Parity- §132 Repeal of Treasury Notice 2008-83 & Code Modification - §382 Delayed Recognition of Certain Cancellation of Debt Income - §108 Qualified Small Business Capital Gains - §1202 Reduction of S Corporation Built-In Gain Period - §1374 New Markets Tax Credit - §45D Delay of 3% Withholding on Government Contractors - §3402(t) COBRA Coverage - §4980B Industrial Development Bonds - §144(a) Energy Provisions Tax Credits for Energy-Efficient Improvements to Existing Homes - §25C Residential Energy Efficient Property - §25D Extension of Renewable Energy Production Tax Credit - §45 Investment Tax Credit In Lieu Of the Production Tax Credit - §45 & §48 Tax Credits for Alternative Fuel Refueling Property- §30C Plug-in Electric Drive Motor Vehicle Credit - §30D Advanced Energy Investment Credit - §48C Clean Renewable Energy Bonds (“CREBs”) - §54C Qualified Energy Conservation Bonds §54D Glossary |