2021 Annual Federal Tax Refresher

***Special Note: NO Credit will be given to “Enrolled Agents” as this is a "REFRESHER" and considered below your knowledge level.***


  • Credits: 6
  • Format: Self-Study eBook
  • Field of Study: Annual Federal Tax Update
  • Author/ Speaker: Paul J. Winn CLU, ChFC

Course ID: Advanced Preparation: Experience Level:
EWTFM-A-01639-20-S | 6233-CE-0364 None Overview
Published Date: Program Prerequisites: Other Course Formats:
© May 2020 Basic Understanding of the IRS Annual Filing Season eBook | Self-Study

COURSE DESCRIPTION

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 (AFTR) 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.

In organizing this course, the term "domain" is used in place of the more common "chapter" to more closely follow the language of the IRS Annual Federal Tax Refresher course outline.

Topics include:

  • Domain 1 – New Tax Law/Recent Updates
  • Domain 2 – General Income Tax Review
  • Domain 3 – Practices, Procedures, and Professional Responsibility

Learning Objectives:

After reading the course material, you will be able to:

  • Identify the principal individual income tax changes brought about by new tax legislation;
  • 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;
  • 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; and
  • Identify the duties and restrictions imposed on tax preparers under Circular 230.

Who Should Attend:

  • All Certified Public Accountants (CPAs)
  • Tax Return Preparers (TRPs)

Qualifies and approved with all state boards of accountancy and the following sponsorships:

NASBA
IRS
CTEC