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| Author : | Danny C Santucci, JD |
| Course Length : | Pages: 54 ||| Review Questions: 17 ||| Final Exam Questions: 23 |
| CPE Credits : | 4.5 |
| IRS Credits : | 4 |
| Price : | $40.45 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents |
| Primary Subject-Field Of Study: | Taxes - Taxes 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 : |
Tax Relief Unemployment Insurance Reauthorization and Job
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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 - 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. ASSIGNMENTAt the start of the materials, participants should identify the following topics for study:
* 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 After reading the materials, participants will able to:
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 |
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