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Course Details

Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (HR 4853) - Mini Course (Course Id 410)

Updated / QAS / Registry / EA   Add to Cart 
Author : Danny C Santucci, JD
Status : Production
CPE Credits : 4.5
IRS Credits : 4
Price : $44.95
Passing Score : 70%
Primary Subject-Field Of Study:

Taxes - Taxation for Course Id 410

Description :

This course examines and explains the major tax provisions of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (TRUIRJCA). The focus is on individual tax rates, marriage penalty relief, family and child incentives, alternative minimum tax relief, and in particular estate planning changes imposed by TRUIRJCA. The course examines how the TRUIRJCA shapes other key tax laws as pertains to various available deductions and credits, dividends and capital gains, depreciation, expensing, and charitable contributions. Finally, the course will highlight the major impact of the TRUIRJCA on estate, gift, and generation-skipping transfer taxes. Participants will be able to help clients navigate these changes and learn how TRUIRJCA affects them in particular.

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 :
Advance Preparation : None
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE)
Revision Date : 24-Feb-2016
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 - NASBA Registry - IRS Enrolled Agents - 410

Keywords : Taxes, Tax, Relief, Unemployment, Insurance, Reauthorization, Job, Creation, Act, 2010, HR, 4853, 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.

ASSIGNMENT

At the start of the materials, participants should identify the following topics for study:

    * Extension of Individual Income Tax & Dividend Rates
    * Continuation of Educational & Energy Benefits
    * Implementation of Family & Child Incentives
    * Extension of AMT Patch for Individuals
    * Extension of Bonus Depreciation & Other Business Provisions
    * New Estate & Charitable Planning Provisions
Learning Objectives:

After reading the materials, participants will able to:
    1. Recognize the TRUIRJCA changes to individual tax rates, marriage penalty relief, alternative minimum tax relief, tax rates for dividend income and capital gain, the adoption credit, employer-provided child care credit, and tuition credit.
    2. Specify extended and enhanced credits & deductions for teachers, state and local sales taxes, educational expenses, research, and wages, showing their timing and usage.
    3. Identify the TRUIRJCA business provisions, in particular those on depreciation of leasehold improvements, bonus depreciation, payroll taxes, expensing, and environmental remediation costs.
    4. Recognize selected contributions, including conservation, inventory, charitable IRA contributions and contributions for transit and parking.
    5. Determine the impact of TRUIRJCA on estate, gift, and generation-skipping transfer taxes, and spousal portability, listing several planning consequences.
Course Contents :

Chapter 1 - Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (HR 4853)

 

Individual Tax Rates - 1

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Marriage Penalty Relief & EITC - 1, 32, & 63

Prior or Existing Law as of 2010

Marriage Penalty

Basic Standard Deduction

Fifteen Percent Rate Bracket

Earned Income Tax Credit

TRUIRJCA

Basic Standard Deduction

Fifteen Percent Rate Bracket

Earned Income Tax Credit

Effective Date

Family & Child Incentives - 21, 36C, 45F & 137

Prior or Existing Law as of 2010

Adoption Credit (old 23 137))

Employer-Provided Child Care Tax Credit (45F)

Dependent Care Tax Credit (21)

TRUIRJCA

Adoption Credit (new 36C & 137)

Employer-Provided Child Care Tax Credit (45F)

Dependent Care Tax Credit (21)

Effective Dates

Child Tax Credit - 24

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

American Opportunity Tax Credit - 25A

Prior or Existing Law as of 2010

Hope Credit

American Opportunity Tax Credit

TRUIRJCA

Effective Date

Earned Income Tax Credit - 32

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Alternative Minimum Tax Relief - 26 & 55

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Dividends & Capital Gains - 1(h)

Prior or Existing Law as of 2010

Dividends

Capital Gains

TRUIRJCA

Effective Date

Deduction for School Teachers - 62

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

State & Local Sales Tax Deduction - 164

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Deduction for Qualified Tuition - 222

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Deduction & Exemption Phase-Out - 68 & 151

Prior or Existing Law as of 2010

Overall Limitation on Itemized Deductions

Personal Exemption Phase-Out for Certain Taxpayers (PEP)

TRUIRJCA

Effective Date

Educational Incentives - 117, 127, 221, & 530

Prior or Existing Law as of 2010

Scholarships (117)

NHSC Scholarship & Armed Forces Scholarship Programs

EGTRRA Sunset

Employer-provided Educational Assistance (127)

Student Loan Interest (221)

Coverdell Education Savings Accounts (530)

TRUIRJCA

Effective Date

Energy Efficient Home Credit - 45L

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Nonbusiness Energy Property Credit - 25C

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Energy Efficient Appliance Credit - 45M

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Research Credit - 41

Prior or Existing Law as of 2010

Computation of Allowable Credit

Alternative Simplified Credit

Eligible Expenses

Relation to 174 Deduction

TRUIRJCA

Effective Date

Uniformed Services Wage Credit - 45P

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

15-Year Qualified Improvements - 168

Prior or Existing Law as of 2010

Depreciation of Leasehold Improvements

Qualified Leasehold Improvement Property - 168(e)(3)(E)(iv)

Qualified Restaurant Property - 168(e)(3)(E)(v)

Qualified Retail Improvement Property - 168(e)(3)(E)(ix)

TRUIRJCA

Effective Date

Bonus Depreciation - 168(k)

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Expensing - 179

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Special Film & TV Production Expensing - 181

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Environmental Remediation Cost Expensing - 198

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Payroll Taxes - 3111 & 3121

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Conservation Contributions - 170

Prior or Existing Law as of 2010

Qualified Conservation Contribution

Special Rule

TRUIRJCA

Effective Date

Charitable Food Inventory Contributions - 170

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Charitable Computer Inventory Contributions - 170

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Charitable Book Inventory Contributions - 170

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Charitable IRA Distributions - 408

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Employer-Provided Mass Transit & Parking - 132

Prior or Existing Law as of 2010

TRUIRJCA

Effective Date

Estate, Gift, & GST Taxes - 2001, 2010, 2502, 2505, 2511 & 2631

Prior or Existing Law as of 2010

Exemption Amounts

Repeal of Estate & GST Taxes

Scheduled 2011 Reinstatement

Basis in Property Received

Lifetime Gift

Stepped Up Basis

Modified Carryover Basis

State Death Tax Credit

Annual Gift Tax Exclusion

Surviving Spouses

Conservation Easements

Special-use Valuation

Installment Payment of Estate Tax

Generation-skipping Transfer Tax

EGTRRA Modifications to GST

Sunset of EGTRRA Modifications to GST

TRUIRJCA

2010 Election

Extension of Filing Deadlines

Spousal Portability of Unused Exemption Amount

Sunset Provision

Effective Date

 

Glossary

Taxes Course 410 Home: https://www.cpethink.com/tax-cpa-courses
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