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Tax Cuts and Jobs Act - Exempt Organizations - For the 2020 Tax Year (Course Id 1727)

QAS / Registry / EA
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Author : Andrew Clark, EA
Course Length : Pages: 10 ||| Review Questions: 3 ||| Final Exam Questions: 5
CPE Credits : 1.0
IRS Credits : 1
Price : $14.95
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 1727

Description :

The Tax Cuts and Jobs Act of 2018 was a significant change to the US tax code. The Tax Cuts and Jobs Act is organized into four primary sections of: Individual Tax Reform, Business Tax Reform, Exempt Organizations and International provisions. This is an updated course for 2020 that will provide a thorough review of the Exempt Organizations portion of the Tax Cuts and Jobs Act Bill (H.R.1.) and it also includes the provisions that have changed for 2020 for exempt organizations. Part 1 of this course will provide a summary description of all provisions referenced in the Tax Cuts and Jobs Act for the Exempt Organizations section. It will identify which sections changed for 2018 and which were updated for 2020. Each provision will reference a more detailed description of the provision in Part 2 of this course.  The detailed description will review the pre-2018 law, provide a detailed description of the changes for 2018, and identify the effective date that the provision became effective.

Usage Rank : 0
Release : 2020
Version : 1.0
Prerequisites : Basic understanding of federal tax code.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 16-Oct-2020
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 - 1727

Keywords : Taxes, Tax, Cuts, Jobs, Act, Exempt, Organizations, For, 2020, Tax, Year, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

At the end of this course, students will be able to:
  • Review the Exempt Organizations provisions to identify which sections changed for 2018 and which were updated for 2020;
  • Identify where to find more information about each provision; and
  • Identify the effective date for all individual tax provisions in the Tax Cuts and Jobs Act.
Course Contents :

Chapter 1 - Tax Cuts and Jobs Act - Exempt Organizations

Course Learning Objectives



A. Unrelated Business Income Tax

1. Clarification of unrelated business income tax treatment of entities exempt from tax under section 501(a)

2. Exclusion of research income from unrelated business taxable income limited to publicly available research

3. Unrelated business taxable income separately computed for each trade or business activity

B. Excise Taxes

1. Simplification of excise tax on private foundation investment income

2. Private operating foundation requirements relating to operation of an art museum

3. Excise tax based on investment income of private colleges and universities

4. Provide an exception to the private foundation excess business holdings rules for philanthropic business holdings

C. Requirements for Organizations Exempt From Tax

1. Section 501(c)(3) organizations permitted to make statements relating to political campaign in ordinary course of activities in carrying out exempt purpose

2. Additional reporting requirements for donor advised fund sponsoring organizations

Review Questions


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