2021 Annual Tax Season Update

  • Credits: 10
  • Format: Self-Study eBook
  • Field of Study: Federal Tax Law
  • Author/ Speaker: Paul Winn

Course ID: Advanced Preparation: Experience Level:
EWTFM-U-01644-20-S | 6233-CE-0367 None Basic
Published Date: Program Prerequisites: Other Course Formats:
© June 2020 General Understanding of Taxes eBook | Self-Study

COURSE DESCRIPTION

Each year, income tax return preparation must take into account inflation-related changes to various limits and new tax laws. This course will look at those changes and new laws. The 2021 Annual Tax Season Update course is designed to provide valuable information to persons preparing individual 1040 income tax returns reflecting clients’ 2020 income. The Annual Tax Filing Season Update course discusses new tax law 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.

The Annual Tax Filing Season Update course discusses new tax law and recent updates for the 2020 filing season, provides a general tax review and examines important rules governing tax return preparer ethics, practices and procedures.

Learning Objectives:

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

  • Identify the changes made to various requirements by the SECURE Act, including
  • Traditional IRA contribution eligibility,
  • Traditional IRA and qualified plan lifetime required minimum distributions,
  • Qualified birth and adoption distributions,
  • 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)
  • Enrolled Agents (EAs)
  • Tax Return Preparers (TRPs)

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

NASBA
IRS
CTEC