This self-study explains how to figure your tax and how to figure the tax of certain children who have unearned income. Also discussed are various tax credits that, unlike deductions, are subtracted directly from your tax and reduce your tax, dollar for dollar, earned income credit, and a wide variety of other credits. Though this basic tax course does not require any prerequisites, its recommended target audience is for existing Enrolled Agents, however anyone may take this course. This course provides 3 CE credits in the IRS Federal Tax Law category.
- Recognize various alternative minimum tax adjustments and preference items.
- Recall the rules related to the tax on unearned income of certain children.
- Recall how to figure the child and dependent care credit.
- Identify who qualifies to take the credit for the elderly or disabled.
- Recall the limits of the child tax credit.
- Identify the requirements for and benefits of the American opportunity credit and the lifetime learning credit.
- Recall the limit of investment income to qualify for the earned income credit.
- Recognize who is eligible to claim the premium tax credit.
- Identify various nonrefundable and refundable credits available for income tax purposes.
- 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.
- Download Course Materials <–To Download this file to your computer, Right-click the link and chose “Save File As”