90220 6.00

Author: Paul J. Winn

CPE Credit:  6 hours for CPAs
6 hours Annual Federal Tax Refresher for OTRPs

Each year, various limits affecting income tax return preparation and tax planning are affected by inflation-related changes. In addition, the SECURE Act and Taxpayer Certainty and Disaster Relief Act of 2019 significantly affect tax planning and may also affect taxpayers’ income tax liability. This course will examine many of those changes.

The Annual Federal Tax Refresher course is designed to meet the requirements of the IRS voluntary Annual Filing Season program. It discusses new tax law—including various tax extenders—and recent updates for the 2021 filing season, provides a general tax review, and examines important rules governing tax return preparer ethics, practices and procedures.

Enrolled Agents will not receive CPE credit for completing this course.

This course must be completed no later than December 31, 2020 in order to receive credit from the IRS. The final exam includes 100 questions and you have 3 hours to complete the final exam. You have 3 attempts to complete the final exam with a passing score of 70% or better. No copy of the final exam can be provided.

In order to your completion reported to the IRS for CE Credit, you must enter your PTIN number MY Professional Profile under My Account in CCH CPELink.

Publication Date: June 2020

Designed For
This course is designed for Tax Preparers. CPAs that take this course must check with their State Board of Accountancy if this course is acceptable CPE.

Topics Covered

  • New tax law and recent updates for the upcoming filing season
  • General Income Tax Review
  • Practices, Procedures & Professional Responsibility

 

Learning Objectives

  • Identify the principal individual income tax changes brought about by the SECURE Act and Taxpayer Certainty and Disaster Relief Act of 2019
  • Apply the inflation-adjusted and other limits to the proper preparation of taxpayers' income tax returns
  • Recognize the federal income tax filing statuses and the criteria for their use
  • Describe the current status of tax extenders
  • 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
  • Identify the duties and restrictions imposed on tax preparers under Circular 230

 

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (6 hours)

Program Prerequisites
None

Advance Preparation
None

Additional Course Details

  • Publisher: Wolters Kluwer
  • Pre-Requisites: None
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