Federal Income Tax Changes – 2023

 

IRS Program Number:
CTEC Program Number:
CE Credits: 3 hours
Category: Tax Law Updates
Delivery Type: Online Self-Study
Exam Questions: 15
Important recommendation to all students: If you received this course as part of a Bundle, we recommend completing all other courses first, then completing this course last as this course contains the 2022 Tax updates referencing inflations numbers.

Course Syllabus

Course Description
Each year, various limits affecting income tax preparation and planning change. Some changes commonly occur each year as a result of inflation indexing, while others occur because of new legislation or the sunsetting of existing law. This course will examine those tax changes that are more significant from the perspective of an income tax preparer. Some context will be supplied, as appropriate, to assist readers in understanding the changes. This is a basic tax course with no prerequisites, and qualifies for 3 CE credits in the IRS Federal Tax Law Updates category.

Learning Objectives

Upon completion of this course, you should be able to:

  • List the changes affecting standard mileage rates, standard deductions, AMT exemption amounts, limits related to income from U.S. Savings Bonds for taxpayers paying higher education expenses, and deductions for qualified long-term care insurance premiums;
  • Identify the various tax credit changes;
  • Recognize the changes in Health Savings Account (HSA) and Archer Medical Savings Account (MSA) requirements and contribution limits, Roth IRA eligibility, and traditional IRA contribution deductibility for active participants in employer-sponsored qualified plans;
  • Explain the changes effective for the year with respect to the small employer premium tax credit and applicable large employer mandate under the ACA; and
  • Describe the principal legislative changes affecting tax advisers and tax preparers.

 

Course Assignments

  • Study each Chapter
  • Answer review questions at the end of each chapter
  • Pass the Final Exam with a score of 70 percent or better

Final Exam and Certification
The final exam consists of 15 multiple-choice questions on the information covered in the course materials. To receive credit for this course, you must click on the Exam below to initiate the exam. A passing score of 70 percent or better will receive course credit and a Certificate of Completion.

 

Course Materials

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